DISCLAIMERS

Important information about the services provided by Stake SMSF Pty Ltd.

SMSF Establishment Disclaimer

No Advice Provided or Implied

Stake SMSF Pty Ltd (Stake Super) is not licensed to provide financial product advice under the Corporations Act. Therefore, we will only set up an self-managed super fund under a ‘no advice model’ where you have already decided to establish an self-managed super fund and give us instructions. Before deciding to establish a self-managed super fund or deciding on any financial product, you should seek advice from an Australian Financial Services Licence holder or one of their authorised representatives. Engaging a financial adviser is not mandatory, and it is your decision whether or not to seek personalised advice.

This means that Stake Super is not providing financial advice to you, including whether a self-managed super fund suits your personal objectives, circumstances or financial needs.  Any information provided is for the sole purpose of, and only to the extent reasonably necessary for ensuring compliance with superannuation legislation.

Any information on our websites, email marketing correspondence, and social media channels is general and does not consider any individual’s objectives, circumstances, or financial needs. 

Specifically, by completing an self-managed super fund establishment application with Stake Super, you acknowledge and agree that you are not being provided with advice in regards to:

Whether an self-managed super fund is suitable for you;

Whether it is appropriate for you to transfer your existing super to an self-managed super fund;

Whether you should take out a life and disability insurance policy owned by your self-managed super fund;

SMSF Risks, Obligations and Costs

Self-managed super funds come with certain risks, and when you set up a self-managed super fund, you take on certain obligations as a trustee. There are also unavoidable costs relating to a self-managed super fund. These risks, obligations and costs include (but are not limited to):

+ Investment risk;

+ Insurance risk;

+ Lack of Government compensation in the event of theft or fraudulent conduct;

+ Trustee skill and time required to manage an self-managed super fund;

+ Fees and costs associated with the establishment, operation and closure of an self-managed super fund;

Trustees are legally responsible for operating a self-managed super fund and all investment decisions. For a more detailed explanation of the above, please refer to the following: Risks Associated with an self-managed super fund.

You acknowledge and accept these risks and obligations by completing a self-managed super fund establishment application with Stake Super.

No Requirement to use Financial Products

As part of the Stake Super application, you are also providing us authority to give Stakeshop Pty Ltd instruction to establish in the name of your self-managed super fund an Airwallex Stake Super AUD Wallet and Stake DriveWealth account. 

Stakeshop Pty Ltd ACN 610105505 (“Stake”) is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) and may provide general financial product advice in respect of trading available via Stake AUS and Stake Wall St. At Stake, we are focused on giving you a better investing experience, but we don’t take into account your personal objectives, circumstances or financial needs. Therefore, any advice is of a general nature only.

There is no requirement to use these financial products for your self-managed super fund; however, additional fees may apply as per the Stake Super Fee Structure if you elect to establish or acquire different financial products. By completing an self-managed super fund establishment application with Stake Super, you acknowledge and accept that the accounts, investments and financial products you use will impact your ongoing fees.

Fees

Fees apply to establishing, operating, and closure of a self-managed super fund. Our fees are found in the Stake Super Fee Structure.

Also, each self-managed super fund is liable to pay an annual ATO Supervisory Levy. The levy amount is $259 per year and is paid to the ATO. This amount is unavoidable and is paid when the self-managed super fund lodges its annual income tax return. However, the amount is doubled when the first self-managed super fund tax return is lodged as the ATO requires the levy paid in advance.

When a self-managed super fund has a special purpose company as a trustee, an Annual Review fee is payable to ASIC each year on the anniversary of the company’s registration. This amount is currently $56 through to 30 June 2021 and is indexed every 1 July. Refer to the ASIC website for the current annual review fees.

By completing an self-managed super fund establishment application with Stake Super, you acknowledge that your self-managed super fund will incur the above fees.

Appoint of Agents and Auditor

As part of the Stake Super establishment application, you also agree to appoint our nominated Tax Agent (Grow SMSF Pty Ltd), ASIC Registered Agent (Grow SMSF Pty Ltd) and independent SMSF auditor (ASF Audits Pty Ltd) to your fund and its trustee company.

You also agree and authorise Stake Super Pty Ltd to replace Grow SMSF Pty Ltd as Tax Agent when the company is registered as a tax agent with the Tax Practitioners Board and ASIC Registered Agent when the company is registered as an Agent with ASIC.