For the purposes of preparing an SMSF, Trust or Company account’s financial statements and annual return, you may need information on the value of investment(s) held on Betashares Direct.
Betashares will provide an end of year report showing the market value of your investment(s). The report is included in the end of year reporting package. This can also be used for other purposes, such as valuation of assets for tax or compliance requirements (e.g. transfer balance cap calculations).
Transferring between individual and non-individual accounts may trigger a change of ownership and CGT event. Please reach out to our Support team via live chat or by calling 1300 487 577 for further information on how to transfer holdings between accounts.
Yes. You can transfer your investments held in the name of an SMSF, Trust or Company from another account provider or platform to the Betashares Direct account held in the name of the same SMSF, Trust or Company, provided the account names match exactly and there is no change in beneficial ownership. If you have a financial or tax adviser, please discuss with them before initiating a transfer.
A portfolio transfer can be initiated on mobile or web while you are logged into the Betashares Direct account for your SMSF, Trust or Company:
Enter the details of your other account, account designation and the holdings to transfer, upload photo ID (e.g. driver's licence or passport), review, sign, and submit.
Yes. Betashares Direct is now integrated with both Class and BGL. These integrations support data from the inception of the account, providing seamless reporting for accountants and SMSF administrators.For investors and accountants who prefer manual record-keeping or other software solutions, CSV exports of account activity are also available.
These statements are prepared based on certain assumptions, so it is recommended that you seek your own tax advice.
At the end of each income year, Betashares will issue the following statements and reports to assist with tax return preparation for your SMSF, Trust or Company account:
An account designation is a specific title given to an account to identify its purpose or ownership. For example:
• ABC Pty Ltd as trustee for the John Dory Family Trust may be identified as: <John Dory Family A/C>
• ABC Pty Ltd as trustee for the John Dory Superannuation Fund may be identified as: <John Dory Super Fund A/C>
Review your account statements or any documents you received when opening the account. These often include the account designation.
An annual tax statement and tax report will be provided at the end of each year to assist with the fund’s tax return preparation.
Information relating to investments held in your SMSF, Trust or Company account on Betashares Direct is detailed in the annual investor statement and the end of year reporting package made available to investors.
If your SMSF currently pays retirement phase income streams to its members, the income from investment assets supporting the retirement phase (or pension) income streams will generally be subject to an exemption from income tax.
Betashares cannot identify these assets on behalf of a trustee of an SMSF. The identification of investment assets supporting the retirement phase income streams will need to be performed by the SMSF trustee(s). We recommend you seek tax advice from a registered tax agent.
You can set up a Betashares Direct account in the name of your SMSF, Trust or Company in two ways:
SMSF
Only applications by SMSFs that are Australian complying super funds will be accepted.
Trust
Only applications by Australian trusts will be accepted.
Company
Only applications by Australian private companies will be accepted.
No, Betashares cannot set up an SMSF for you. The trustee(s) of an existing SMSF can set up a Betashares Direct account to make investments through the platform on behalf of the SMSF.
There is comprehensive information about setting up an SMSF on the Australian Taxation Office’s website. You can access by clicking this link: https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/setting-up-an-smsf.
Only the individual trustee(s), or the director(s) of a corporate trustee, for an SMSF or Trust — or the director(s) of a company — who has set up the account, can access and provide instructions in relation to the Betashares Direct account.
No – provided the accounts are linked to the same email address. You will log in using the email address registered to your account(s). You can then switch between your Individual, SMSF, Trust or Private Company accounts from the Profile tab.
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