Frequently Asked Questions

Betashares Direct is the new investing platform designed to help you build wealth, your way. You can learn more about Betashares, Betashares Direct, the Early Access period, and more in our frequently asked questions below.

General
Accounts
Cash Wallet
Investing
Portfolios
Distributions
Fees
Tax
Portfolio Transfers
SMSF and Trust accounts
Auto-invest
Do platform fees apply to your individual ETF holdings on Betashares Direct?

No platform fees apply to individual ETFs held in your Betashares Direct account (i.e. the ETFs held outside a Managed Portfolio).

Interest income received on the cash balance in your Cash Wallet is currently retained by Betashares. This amount is not directly deducted from your Betashares Direct account. No minimum cash balance applies to your Cash Wallet.

For more information on the above fees and costs, please refer to the Product Disclosure Statement.

Why does Betashares Direct need my TFN?

Providing your Tax File Number (TFN) is not mandatory.  

However, if you do not provide your TFN, tax may be deducted from your distributions at the highest marginal tax rate (plus the Medicare Levy), unless you are eligible to claim an exemption. 

You can provide any applicable tax exemption information to our Customer Support team. 

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision. 

Who is Betashares?

Betashares is a leading Australian fund manager, with a focus on exchange traded funds (ETFs). Established in 2009 with the vision of enabling every Australian to financially progress, we serve over 1 million investors and thousands of financial advisers, managing more than $40 billion in assets.

Learn more about Betashares here.

How do I open a Betashares Direct account?

It takes just a few minutes to open an account with Betashares Direct.

Simply sign-up via Web or download the Betashares Direct app for your iOS device via the App Store or for Android via Google Play. You can then sign-up and register for an account by providing:

  • Your email address
  • Your name, date of birth, and address (as they appear on your ID)

We may also ask you for additional information as part of this process, including details of your current Australian driver’s licence or a passport with at least three years remaining until expiry.

What if I don’t have a passport or driver’s licence?

If you don’t have a current Australian driver’s licence or a valid passport, our Customer Support team can assist you through live chat or via email ([email protected]). You may be requested to provide additional details to complete verification, e.g. your Medicare card, bank statement or utility bill information.

To comply with Australian AML/CTF laws and AUSTRAC guidelines, Betashares is required to collect certain personal details to open a Betashares Direct account for you. This includes your legal name, date of birth, address, and source(s) of wealth.

What are the investment options on Betashares Direct?

Betashares Direct currently offers access to the following investment options:

  • ETFs traded on the ASX or Cboe Australia
  • Auto-invest – set recurring orders into up to 5 Betashares ETFs
  • Managed Portfolios – invest in a range of professionally constructed portfolios to suit different risk/return profiles and investment strategies
  • Custom Portfolios – build your own custom ETF portfolio (up to a maximum of 10 ETFs) to suit your own goals and financial circumstances.

What are Managed Portfolios?

Managed Portfolios allow you to access professionally constructed pre-built portfolios, or build your own custom portfolio in a few simple steps. The benefits of Managed Portfolios include:

  • Make recurring or one-off investments from your bank account directly into your Managed Portfolio
  • Choose from diversified pre-built portfolios, or customise your own investment strategy
  • Instantly top up your Managed Portfolio direct from your Cash Wallet
  • Your investments into Managed Portfolios are made automatically according to your chosen portfolio’s strategy
  • Automatic monitoring and rebalancing of your portfolio
  • Automatic reinvestment of your distributions
  • Low monthly portfolio fees with zero brokerage
What are the fees and costs for using Betashares Direct?

Betashares Direct aims to keep your costs low, to help you maximise your investment returns over the long-term.

No brokerage fees apply to buying or selling ETFs using Betashares Direct.

Low monthly portfolio fees apply for Managed and Custom Portfolios.  

Interest income received by Betashares in respect of the cash balance held in Betashares Direct account is retained by Betashares. This amount is not directly deducted from your Betashares Direct account.

Consistent with Betashares’ philosophy and focus on helping clients build long term wealth, Betashares Direct is subject to a fair use policy to ensure the platform is not used in an excessive or unreasonable manner.

What do I need before I transfer my ETF holdings from another account to Betashares Direct?

It can take less than five minutes to submit your portfolio transfer if you have the required information at hand. The process is initiated online.

Before you start, make sure you have:

  • Details of the other account that you’ll be transferring your holdings from, including your HIN or SRN
  • Details of the ETF holdings to be transferred, including ASX code, the quantity you want to transfer and (if available) the cost price and purchase date of the relevant holdings
  • A photo ID for each account holder.
How do I open an SMSF or Trust account with Betashares Direct?

You can set up a Betashares Direct account in the name of your SMSF or trust in two ways:

  1. Users with an existing account (e.g. an individual account): Log into your account, press on the Profile Icon, select ‘Add a new account type’, and follow the prompts.
  2. Users without an existing account: When creating a new account, select ‘SMSF’ or ‘Trust’ when asked the account type to open and follow the prompts.
What ETFs can I use Auto-invest for?

You can set up recurring orders via Auto-invest for all Betashares ETFs, excluding short funds or other funds as determined by Betashares.

Auto-invest does not support ETFs issued by other providers.  If you would like to set up recurring investments into ETFs issued by other managers, you can do so by setting up a Custom Portfolio (portfolio fees will apply).

How do I make a deposit into my Cash Wallet?

Once your account has been opened, you can transfer money from your nominated Australian bank account into your Cash Wallet.

  1. Your Cash Wallet has a unique BSB and account number, which can be found by tapping or clicking on the Cash Wallet icon found on the home screen.
  2. You will need to ensure that you enter the correct BSB and account number when transferring money from your nominated bank account.
  3. The account number for your Cash Wallet is unique to your Betashares Direct account, so there is no need to include a description or reference when making the transfer from your bank account.

Your transfer will usually appear in your Cash Wallet within 1 hour, but may take up to 3 business days, as processing times may vary by bank.

Some banks may place a one-day hold on your first transfer via Osko. Subsequent Osko transfers will typically be processed instantaneously.

What are Managed and Custom Portfolios?

Portfolios let you easily and efficiently automate your investing strategy. Portfolios allow you to:

  • Make recurring or one-off investments from your bank account directly into your Portfolio
  • Choose from a range of diversified professionally constructed portfolios, or customise your own investment strategy
  • Instantly top up your Portfolio direct from your Cash Wallet
  • Investments into a Portfolio are made according to the applicable investment strategy
  • Automatic rebalancing of your portfolio
  • Automatic reinvestment of distributions
  • Low monthly fees with zero brokerage

How do I receive distributions?

Distributions paid on ETFs you hold outside a Managed Portfolio will by default be reinvested into the same ETF. However, you can opt out of automatic reinvestment, and choose to receive your distributions in cash, which will be paid into your Cash Wallet. To select cash distributions, navigate to ‘Reinvestments’ under ‘Settings’.

Distributions you receive from ETFs held in your Managed Portfolio will automatically be reinvested. You cannot opt out of automatic reinvestment for your Managed Portfolio.

Distributions form part of your taxable income, regardless of whether they are reinvested or taken in cash. Please refer to Section 6 of the Product Disclosure Statement for more information and speak to your tax adviser.

Why does Betashares Direct need my TFN or ABN?

Providing your Tax File Number (TFN) or Australian Business Number (ABN) is not mandatory. However, if you do not provide your TFN or ABN, withholding tax may be deducted from your distributions at the highest marginal tax rate (plus the Medicare Levy), unless you are eligible to claim an exemption.

You can provide any applicable tax exemption information to our Customer Support team.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

What is Betashares Direct?

Betashares Direct is a new investing platform designed to help you build wealth, your way.

With Betashares Direct you can invest in ETFs traded on the ASX with zero brokerage. You can set up recurring investments and cost-effectively automate your investing strategy by accessing professionally constructed pre-built portfolios or build-your-own custom portfolios, all with streamlined, personalised performance and tax reporting to make your investments simple to administer and manage.

*Refer to the Product Disclosure Statement for more information on interest retained by Betashares on cash balances and Managed and Custom Portfolio fees.

I’m a financial adviser, how can I make use of Betashares Direct?

Betashares Direct is currently for self-directed investors. Financial advisers continue to be a core focus of our business and we are actively exploring functionality that will enable financial professionals to work with their clients on the platform, as well as a financial adviser referral program for investors with more complex needs. If you would like to provide feedback into what adviser specific features would be of most value, we encourage you to contact us. Financial advisers are also able to register for Betashares Direct accounts as individual investors.

How do I transfer ETF holdings from another account to Betashares Direct?

It’s a simple process to transfer your holdings from another account to Betashares Direct.

  • Log in to Betashares Direct, click on 'Profile' and then 'Transfer request'
  • Enter the details of your other account
  • Enter details of the holdings you want to transfer including the quantity you want to transfer and (if available) the cost price and purchase date of the relevant holdings
  • Upload photo ID e.g. driver’s licence or passport
  • Review, digitally sign and submit.

We take care of the rest and will let you know when your holdings have been transferred to your Betashares Direct account.

What do I need to open an SMSF or Trust account with Betashares Direct?

SMSF

  • ABN for the SMSF  
  • ACN for the SMSF trustee (if a corporate trustee)
  • Driver’s licence/passport details (for each individual trustee or, for a corporate trustee, for each company officer)

Only applications by SMSFs that are Australian complying super funds will be accepted.

Trust

  • ABN for the trust
  • ACN for the trustee (if a corporate trustee)
  • Driver’s licence/passport details (for each individual trustee, or for a corporate trustee, for each company officer, as well as any ultimate beneficial owners)
  • Digital copy of the trust deed

Only applications by Australian trusts will be accepted.

How many ETFs can I set up Auto-invest for?

You can set up recurring orders for a maximum of 5 Betashares ETFs. You have the flexibility to set these orders to have different frequencies, amounts (subject to a minimum of $100 per recurring order) and start dates.

If you would like a recurring investment strategy that includes more than 5 Betashares ETFs or includes non- Betashares ETFs, you may wish to consider setting up a Custom Portfolio (portfolio fees apply).

Who can open an account?

Betashares Direct is currently available to individuals, SMSFs and Trusts but will be available soon to other types of investors, including Corporate and joint accounts.

To get started, individual investors will need to:

  1. be at least 18 years old
  2. be an Australian resident for tax purposes
  3. have an Australian bank account
  4. have an Australian residential address
  5. have a valid email address.
What is the minimum deposit amount?

There is no minimum deposit amount when transferring from your nominated bank account into your Betashares Direct Cash Wallet. The minimum order value for an ETF buy order on Betashares Direct is $10. There is no minimum order value for a sell order.

The minimum deposit amount for a Managed or Custom Portfolio depends on the payment method:

  1. Kickstart deposit from your Cash Wallet - no minimum
  2. Recurring deposit by direct debit from your nominated bank account - $100
  3. Top-up any time from your Cash Wallet - no minimum
  4. Top-up or schedule recurring payments any time via bank transfer from your nominated bank account - no minimum
Do I need to deposit money into my Cash Wallet before I can invest?

Yes, before you can submit a buy order for ETF units you will need to make a deposit into your Cash Wallet. The minimum amount for a buy order is $10.

How do I create a Managed Portfolio?

You can create a Managed Portfolio in a few simple steps:

  1. Navigate to Home and select ‘Portfolios’
  2. Select from one of our professionally constructed Managed Portfolios, or build your own Custom Portfolio
  3. Set up recurring deposits into your Portfolio
  4. Link a bank account for direct debit
  5. Create your Portfolio

When are my distributions received in my Cash Wallet or reinvested?

Distributions are usually received in your Cash Wallet or reinvested on the day they are paid by the issuer of the relevant ETF but, in some circumstances, distributions may be received/reinvested up to two business days following the payment date.

Are there any account fees associated with Betashares Direct?

There are low monthly fees if you use the Managed or Custom Portfolio features (see below for more information). Interest income received by Betashares in respect of the cash balance held in your Betashares Direct account is retained by Betashares. This amount is not deducted directly from your account. Refer to the PDS for more information.

For Managed and Custom Portfolios, the following portfolio fees apply:

Managed Portfolios: For portfolio balances between $0 and $10,000, the Portfolio Fee is $3 per month. For portfolio balances greater than $10,000, the Portfolio Fee is 0.20% per annum (p.a.) of the portfolio balance.

Custom Portfolios: For portfolio balances between $0 and $10,000, the Portfolio Fee is $4 per month. For portfolio balances greater than $10,000 the Portfolio Fee is 0.25% p.a of the portfolio balance.

What tax reporting will I receive at year end?

You will receive a single tax statement that provides a summary of the taxable income from ETPs you held during the year.

In addition to this, you will receive a CGT statement with capital gain and loss information on any investments you sold during the year.

When preparing your tax return, you will need to combine the information from the annual tax statement and the CGT statement to determine your taxable income and net capital gain or loss position for the investments in your Betashares Direct account.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

How does Betashares protect my account and personal data?

The security of your Betashares Direct account is very important to us. We have implemented robust measures to safeguard your account and your personal information:

  • You are verified by email when your account is created and each time you login.
  • We will notify you when a new login is detected, highlighting the time of login and device used.
  • For mobile, access to your account is secured with a unique passcode. If supported by your device, you can use Face ID for quick and secure access.
  • Data, including any personal information, is encrypted to prevent external attackers accessing unencrypted data and to help protect against data breaches.
  • Protections are in place if your Betashares Direct account is shared on screen sharing tools typically used in phishing attempts.

Who handles the portfolio transfer?

Once you have submitted the transfer request to us, we will handle the administrative side of the portfolio transfer.

Where do I find my annual tax statement and CGT statement?

Your annual tax statement and CGT statement are available within the Betashares Direct App after the end of 30 June each year. We will notify you by email once your statements are ready to access.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Can Betashares set up an SMSF for me?

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.

How do I set up Auto-invest?

It’s simple to set up a recurring order with Auto-invest. There are two ways to set up a recurring order.

  1. Navigate to a Betashares ETF, and click on Buy: select the order type dropdown and select Auto-invest recurring order.
  2. Through the Auto-invest settings section under your Account profile. From here you can select one or more ETFs for recurring order(s).

For each recurring order you have the flexibility to set:

  1. The frequency: weekly, fortnightly, or monthly
  2. The amount: a minimum amount of $100 applies per recurring order
  3. The date for the first order to be executed
Is Betashares Direct CHESS sponsored?

Betashares Direct is a new investing platform designed to help you build long-term wealth. Investors benefit from zero brokerage, fractional investing, and personalised portfolio performance and tax reporting.

To deliver all these benefits to Australian investors, Betashares Direct does not act as a broker and is not CHESS-sponsored. Rather, your investments are held on a pooled basis by the custodian of Betashares Direct (Citigroup Pty Ltd). You are the beneficial owner of the investments held in your Betashares Direct account, and as the beneficial owner, you retain the rights to distributions paid on your investments.

How do I make a withdrawal?

You can request a withdrawal of cash from your Cash Wallet to your nominated bank account at any time. There is no minimum withdrawal amount. You will need to ensure the nominated bank account is held in the same name as your Betashares Direct account.

Withdrawal requests are usually processed within 2 business days after the later of (a) receipt of the request (where no investments are required to be sold to fund the request) or (b) settlement of any outstanding sell orders required to fund the request. Betashares may suspend or delay withdrawals from your Cash Wallet in certain circumstances (see the PDS for more information).

What types of orders are available on Betashares Direct?

There are two types of order available on Betashares Direct.

Limit Orders

A limit order is an instruction to buy or sell a security at a price specified by you (or better).

A ‘Buy’ limit order will only be executed if the market price reaches your specified price (or lower). A ‘Sell’ limit order will only be executed if the market price reaches your specified price (or higher).

When placing a limit order, you will need to set an expiry date on the order. You can choose one of the following:

  • End of the current trading day
  • 7 days
  • 30 days
  • 60 days

The execution of a limit order is not always certain. Limit orders are executed based on the quantity or dollar amount you wish to buy or sell. The order will remain outstanding until the total quantity or dollar amount you have specified has been bought or sold (as applicable), the order expires, or it is cancelled by you.

Limit orders for ETF units will be executed on a trading day between 9.30am and 4.10pm AEST if the market price reaches your specified price (or better) on the relevant trading day, i.e. in addition to normal market hours, a limit order can also be executed during the opening auction or closing auction.

Market Orders

A market order is an instruction to buy or sell a security at the prevailing market price (which will not be determined until the order is executed and may be different to the indicative price displayed at the time you place the order).

Market orders for ETF units that are placed outside of market hours will generally be executed after the market opens on the next trading day (at or after 10.15am AEST, after the opening auction).

What is a Managed Portfolio?

Managed Portfolios are diversified portfolios that are constructed and managed by Betashares’ investing experts.

There are currently three managed portfolios you can choose from:

  1. Balanced: This portfolio has a balanced weighting across Australian Shares, Global Shares, Fixed Income and Cash. It may suit an investor with a medium risk profile, who is willing to accept some volatility in their portfolio.
  2. Growth: This portfolio has a higher weighting to Australian Shares and Global Shares. It may suit an investor with a medium to high risk profile, who is willing to accept higher volatility.
  3. High Growth: This portfolio has a high portfolio weighting in Australian Shares and Global Shares. It may suit an investor with a high risk profile who is willing to accept high volatility.

The benefits of Managed Portfolios include:

  • Choose from a range of diversified portfolios based on your risk profile
  • Low monthly fees with zero brokerage
  • Deposits are automatically invested according to your chosen portfolio’s target asset allocation and investment strategy
  • Automatic monitoring and rebalancing of your portfolio
  • Automatic reinvestment of distributions
  • Instantly top-up your direct from your Cash Wallet
  • Make recurring or one-off deposits direct from your bank account.

If your investment objective or risk profile changes, you can easily switch from one Managed Portfolio to another by clicking on the ‘Manage’ button within your Managed Portfolio account. Bear in mind that changing your portfolio may affect your returns and have tax implications.

At what price are my distributions reinvested?

Distribution payments from the investments you hold (outside of a Managed Portfolio) will be received in cash into your Cash Wallet and then used to automatically acquire additional units at the applicable market price at the time the order is executed, generally within 1-2 business days after the cash distribution is received.

You may elect (via the Betashares Direct App) to not have such distribution payments reinvested, in which case the relevant amounts will be retained in your Cash Wallet.

Do I need to contact the other account provider or broker I am transferring my holdings from?

No, we will arrange with your other account provider to process the transfer after you submit the transfer request. If there are any missing details, we will contact you directly.

Do I own my investments held on Betashares Direct?

You are the beneficial owner of the investments held in your Betashares Direct account. As the beneficial owner, you retain the rights to distributions paid on your investments. You have the sole right to dispose of (sell) your investments.

All investments are held on a pooled basis by the custodian of Betashares Direct. Betashares has appointed Citigroup Pty Ltd as the custodian to hold investments on Betashares’ behalf.

When you open a Betashares Direct account, a Cash Wallet will be opened for you. The cash in your Cash Wallet will be pooled with the cash balance of other investors and held in one or more Australian bank accounts operated by the custodian.

How much does it cost to transfer ETF holdings to Betashares Direct?

We do not charge a fee to transfer holdings into your Betashares Direct account from another account. Your other account provider may charge fees - be sure to check before you submit the transfer request. A fee will apply for a transfer of your holdings from your Betashares Direct account to another provider. Refer to the Product Disclosure Statement for more information.

Why are there capital gains reported in both the annual tax statement and CGT statement?

The annual tax statement provides information on capitals gains realised within the ETFs you hold through your Betashares Direct account, which are passed through to you and reported under the individual tax return labels 18H and 18A. These capital gains components are referred to as ‘indirect capital gains’. These amounts will automatically prefill in your individual tax return.

The CGT statement sets out the capital gains and losses realised on any investments you sold via Betashares Direct during the relevant tax year. These capital gains and losses are referred to as ‘direct capital gains/losses’.

You will need to combine your direct and indirect capital gains/losses to arrive at your complete position (in relation to the holdings in your Betashares Direct account), before applying the CGT discount.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Who can access my SMSF or Trust account on Betashares Direct?

Only the SMSF trustee, or the director of the SMSF trustee, where the trustee is a company, who has set up the account can access and provide instructions in relation to the Betashares Direct account.

How is my recurring order funded?

All recurring orders are executed brokerage-free using available cash from the Cash Wallet in your Betashares Direct account. For your orders to be executed, you must have sufficient available cash in your Wallet the day before the order is scheduled. We recommend setting up a recurring transfer from your bank account into your Wallet, so that the entire process – from funding your wallet through to your recurring investment – is automated.

Please note: if you have multiple recurring orders scheduled for the same day, you will need to make sure you have sufficient available cash in your Wallet to cover all the orders. We will not place partial orders, or select a fund to invest in - if there is insufficient available cash in your Wallet, none of your scheduled orders will be executed. Your recurring order instructions will remain in place and will be executed on the next scheduled date (assuming you have sufficient available cash in your Cash Wallet).

What is fractional investing?

All ETF units held through your Betashares Direct account are fractionalised.

Fractional investing allows you to invest any amount above $10 (being the minimum investment amount to buy a fraction of an ETF unit), giving you the flexibility to invest without having to invest in whole units. This means you can invest the full amount of your choice, with no residual cash left sitting uninvested.

Another benefit of fractional investing is the ability to reinvest the entire distribution you receive from your ETF holdings. Every dollar of the distribution is reinvested, with no residual cash left sitting uninvested.

Can I change my nominated bank account?

Yes, you can change your nominated bank account by following these steps:

  1. Navigate to Settings in Betashares Direct.
  2. Go to Linked Bank Accounts.
  3. Add your new bank account details.

Why are market orders for ETP units executed or after 10:15am and not 10.00am?

In the first 15 minutes of trading, there can be a lot more volatility in ETP prices. In this situation, a market maker’s spreads may tend to be wider and the iNAV will be based on a price that can significantly move in a short period of time. To avoid being exposed to such risk, market orders will only be executed 10:15am on the relevant trading day.

What is a Custom Portfolio?

A Custom Portfolio allows you to control your investing strategy by building your own portfolio of up to 10 ETPs.

Custom Portfolios are generally only suitable for investors who have sufficient financial knowledge and skills to create a portfolio that meets their risk tolerance and investment objectives.

The benefits of Custom Portfolios include:

  • Set your own portfolio weights for up to 10 ETPs
  • Ability to elect to turn rebalancing on or off, as well as set rebalancing frequency from the available options
  • Low monthly fees with zero brokerage
  • Deposits are automatically invested according to your instructed investment allocation
  • Automatic rebalancing of your portfolio (if you haven’t elected to turn off rebalancing)
  • Automatic reinvestment of distributions
  • Instantly top-up direct from your Cash Wallet
  • Make recurring or one-off deposits direct from your bank account

Can I transfer shares?

No. Betashares currently only supports the transfer of exchange traded products traded on Australian exchanges that are accessible via Betashares Direct.

Do I need separate log-in details for my different account types?

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 accounts from the Profile tab.

What time of day will my recurring order be executed?

Recurring orders are placed as a market order at 11.00am on the scheduled date (assuming it is a trading day, otherwise it will be placed on the next trading day after the scheduled date).

Why don’t I have a holder identification number (HIN)?

Betashares Direct is not a broker and is not CHESS-sponsored, so you will not be issued with a HIN by the ASX in relation to your holdings. Rather, your investments are held on a pooled basis by the custodian of Betashares Direct (Citigroup Pty Ltd). You are the beneficial owner of the investments held in your Betashares Direct account and as the beneficial owner, you retain the rights to distributions paid on your investments.

Additionally, Betashares handles all the admin and registry work for investments held within Betashares Direct, so you don’t need to register with a separate unit registry to manage your holdings. You can add and update your nominated bank account details in Betashares Direct, update your DRP preferences, provide your TFN, and access your tax statements.

Can I edit or delete a pending order?

You can edit or delete an order if it has not yet been executed. To edit or cancel a pending order:

  • Navigate to Activity
  • Select the pending order
  • Edit or delete the order.

How do I deposit into my Portfolio?

There are several ways to make a deposit into your Portfolio:

  1. From your Cash Wallet
  2. By bank transfer (each Portfolio you create has its own unique BSB and account number)
  3. Top up any time via direct debit
  4. Set up a recurring deposit from your nominated bank account via direct debit


How long it takes for your deposit to be received in your Portfolio will depend on the method you use:

  • Transfer from your Cash Wallet: instant
  • Bank transfer: generally within seconds if your bank transfers via Osko, although your first bank transfer may take longer as some banks may place a one-day hold on the payment.
  • Direct debits initiated within Betashares Direct can take up to 4 business days.

Once the deposit is available in your Portfolio ,the amount will be invested in accordance with the applicable investment allocation (as described in the PDS). Units will be acquired at the applicable market prices when the order is executed (generally within 2 business days after the deposit is received).

How does Betashares Direct help me with tax reporting?

Betashares Direct has been built to simplify tax time for you.

At the end of each financial year, Betashares will provide you with a single annual tax statement relating to all your investments in Betashares Direct. This includes gains and losses from ETFs sold over the last financial year, income received from ETF distributions, and a consolidated report of all the tax attributes associated with your ETF holdings on Betashares Direct. You or your tax agent will be able to use this document for the preparation of your tax return.

In addition, information from your Betashares Direct annual tax statement will be provided to the ATO, which will be used to pre-fill your tax return.

The Betashares Direct Tax Guide is also available to assist you or your tax agent with the preparation of your tax return.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Is transferring ETF holdings from another account to my Betashares Direct account a CGT event?

As long as there is no change in beneficial ownership, the transfer of holdings from your other account to your Betashares Direct account should not trigger a capital gains tax (CGT) event. We recommend you obtain independent professional taxation advice to confirm the taxation implications of transferring your holdings.

When you request to transfer your ETF holdings to Betashares Direct, you can provide us with information regarding the cost price of each holding to ensure your capital gains tax (CGT) and performance reporting is accurate.

If you don’t provide this information, the cost price of the holdings you transfer will be taken to be the prevailing market price at the time the relevant holdings are transferred into your Betashares Direct account, and the purchase date will be the date on which the relevant holdings are transferred.

How long does it take to transfer holdings from another platform/broker?

Holdings will generally be transferred to your Betashares Direct account within 7 business days of submitting your transfer request.

Transfers may sometimes be delayed due to circumstances outside our control e.g. issues or delays with the account provider you are transferring your holdings from.

Can I transfer my investments from individual to non-individual accounts?

No, you cannot transfer investments from individual to non-individual accounts on Betashares Direct.

What is the minimum amount of a recurring order?

For each recurring order, the minimum amount per order is $100.

Where can I find my Betashares Direct account number or ID?

Your account number can be found at the top of your quarterly statement.

Why is my order not being filled?

Several factors can contribute to your order not being filled. These include:

  • Limit price not reached: For both buy and sell orders, if the market price does not reach the limit price specified in your order, the order will not be filled.
  • Liquidity: The liquidity of a security, which refers to how easily it can be bought or sold without significantly affecting the price, can impact order execution. For example, if the security has low liquidity, there may not be enough buyers or sellers to fill a limit order at the specified price.
  • Market volatility: Rapid and unpredictable price movements can affect whether your order is filled.
  • Partial filling: In some cases, a limit order may be only partially filled (e.g. due to limited volume being available at the relevant limit price). The remaining portion of your order may remain unfilled or will be filled at a later time (assuming the limit order does not expire) if the market price subsequently reaches your limit price (or better).
  • Market hours: Market orders and limit orders scheduled outside of market hours won’t be filled until the market opens (after 10.15am AEST on a trading day for a market order for ETF units and after 9.30am AEST on a trading day for a limit order for ETF units).
  • Exchange or system outages: In rare cases, exchange outages or system issues can disrupt investing and prevent your order being filled.
How do I set-up a recurring deposit into my Portfolio?

Set-up a recurring deposit following these steps:

  1. Navigate to the Portfolio
  2. Tap “Manage”
  3. Tap “Recurring investments”
  4. Enter the frequency, amount you wish to invest, and the date to initiate your first direct debit
  5. Select or add the bank account to set up direct debits
  6. Confirm

Do I need to be an Australian tax resident to invest on Betashares Direct?

Yes, currently Betashares Direct is only available to Australian tax residents. This means you must be able to provide an Australian residential address as a part of the onboarding requirements.

When you make your first deposit into your Betashares Direct account, you will also be asked if you are a tax resident of any other country. If so, you will be asked to provide your Tax Identification Number (TIN) for that country.

If you are also a tax resident of the United States, the field to enter your TIN will be mandatory because we are required to collect this under the US Foreign Account Tax Compliance Act (FATCA).

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Will my performance and CGT reporting be affected when I transfer my ETF holdings to my Betashares Direct account?

When you request to transfer your ETF holdings to Betashares Direct, you can record the individual cost price of each holding to ensure your capital gains tax (CGT) and performance reporting is accurate.
If you don’t provide this information, the cost price of the holdings you transfer will be taken to be the prevailing market price at the time the relevant holdings are transferred into your Betashares Direct account, and the purchase date will be the date on which the relevant holdings are transferred.

Can I transfer my investments held in the name of my SMSF or trust to Betashares Direct?

Yes. You can transfer your investments held in the name of an SMSF or trust from another account provider or platform to the Betashares Direct account held in the name of the same SMSF or trust, provided the account names match exactly, and there is no change in beneficial ownership. If you have an adviser please discuss with them before initiating a transfer.

This can be initiated on Mobile or Web from your SMSF or Trusts logged-in state:

For mobile: Log in to Betashares Direct, go to Profile, and then Transfer request.

For web: Log in to Betashares Direct, go to Manage Account, and then Transfers.

Enter your other account details, account designation and the holdings to transfer, upload photo ID (e.g., driver's licence or passport), review, sign, and submit.

Can I skip a recurring order?

Yes. You can skip an order by going to the Manage section under Auto-invest in Profile settings. Click on the ETF that you would like to skip the next order for. Your next scheduled order will not be executed, and your recurring order will resume on the next scheduled date after that. This allows you to retain your preferences but maintain flexibility. This instruction must be provided prior to the scheduled date of the relevant order.

Is Betashares Direct available on both mobile and web?

Yes, you can access Betashares Direct on iOS and Android Mobile devices, as well as Web.

To access Betashares Direct using the web go to direct.betashares.com.au.

How do I sell ETFs?

To sell ETFs on Betashares Direct:

  • Log into your Betashares Direct account
  • Select the ETF you wish to sell from your list of holdings
  • Select ‘Sell’
  • Select the order type - market order or limit order
  • Enter either the dollar value, or the number of units, you want to sell
  • If you have selected a limit order, specify the limit price
  • Review your order and confirm.

Market orders for ETFs will be executed between 10.15am and 4.00pm AEST on a trading day.

Limit orders for ETFs will be executed between 9.30am and 4.10pm AEST on a trading day (assuming the market price reaches the specified limit price (or better) on the trading day).

What is automated rebalancing and how does Betashares Direct rebalance my Portfolio?

Rebalancing refers to the buying or selling of ETF units in order to  bring your Portfolio weightings in line with the specified investment allocation relating to the Managed Portfolio or Custom Portfolio.

Pre-built portfolios

When you invest in a Managed Portfolio, your money is invested in units in the ETFs the portfolio comprises, in accordance with the portfolio’s target weighting. The portfolio is then rebalanced as follows:

  • Annually (after February) – Managed Portfolio holdings are rebalanced back to the target weighting (or allocation) on an annual basis.
  • Quarterly (after May, August and November) – a quarterly rebalance may occur if market movements or other circumstances cause the allocation to an asset class (by reference to the allocation to defensive and growth assets, or allocation to Australian and global equities) to deviate from the target weighting by more than 2% at the end of the relevant quarter.

Custom Portfolios

  • When you invest in a Custom Portfolio, your money is invested in units in the ETFs you have chosen for your portfolio, in accordance with the target weightings you specify.
  • Unless you elect otherwise, Custom Portfolios are rebalanced after the end of each quarter. This generally occurs after February, May, August and November.
  • If you have elected to change your rebalance frequency to annual, a rebalance will occur once per year after February.
  • Rebalancing will only occur if your portfolio deviates from your instructed investment allocation by more than 2% as at the end of the relevant rebalance period.
  • You can elect for rebalancing to be turned off.
  • Elections can be changed at any time.

Can I transfer ETFs out of Betashares Direct to another platform or broker?

Yes, you can request a transfer of some or all of the investments in your Betashares Direct account to another account held in your name. Such a request will need to be initiated with the provider of your other account. A fee of up to $9.50 per ETF may apply. Your transfer may not be processed if you do not have sufficient available cash in your Cash Wallet to cover the total fees.

What information does Betashares provide to assist with tax return preparation?

At the end of each income year, Betashares will issue the following statements and reports to assist with tax return preparation:

  • An annual tax statement outlining all income derived from investments held in the Betashares Direct account;
  • A gains or losses statement showing a summary of capital gains and losses for securities held in the Betashares Direct account and sold during the financial year;
  • A report showing transactions executed through the Betashares Direct account; and
  • An annual investor statement showing the fees charged by Betashares.  

These statements and reports will be accompanied by a Tax Guide to assist you and your tax agent with the preparation of your tax return.  

These statements are prepared based on certain assumptions, so it is recommended that you seek your own tax advice.  

Why did my recurring investment fail?

The most likely reason your recurring order may have failed is that you had insufficient funds in your Cash Wallet to cover the full amount of the order.

Can I open a minor (child) account on Betashares Direct?

We are working on making this feature available. Contact Customer Support to be notified when the child (minor) account feature is available on Betashares Direct.

What is T+2 settlement?

T+2 is short for Transaction Date plus Two Business Days Settlement. This means the exchange of cash for securities takes place two business days after the transaction date.

For example, if your sell order is completed on Monday (the transaction date), the cash proceeds of the sale will become available for withdrawal after T+2 settlement on Wednesday. You will be able to submit a withdrawal request after the sell order is completed. However, it will take 2 business days for the cash proceeds to be available for the withdrawal.

How do I withdraw from my Portfolio?

To withdraw funds from your Portfolio you need to initiate a transfer of money to your Cash Wallet by following these steps:

  1. Navigate to the Portfolio you would like to withdraw from
  2. Select “Manage”
  3. Select “Transfer out”
  4. Enter the amount you wish to transfer to your Cash Wallet and confirm.

Once you have confirmed the amount to transfer, Betashares will sell the investments in your Portfolio and transfer the proceeds to your Cash Wallet within two business days.

 

You can then withdraw the funds from your Cash Wallet back to your nominated bank account, by following the bellow steps:

  1. Navigate to your Cash Wallet from home
  2. Enter the amount of cash you want to withdraw
  3. Add your bank account details and confirm.
I have a Managed Portfolio or Custom Portfolio. Are the Portfolio fees tax deductible?

Portfolio fees will typically be tax deductible as a cost of investing. These fees are not included in the tax statement but will be set out in your annual investor statement.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

What tax information does Betashares provide for an SMSF?

An annual tax statement and tax report will be provided at the end of year to assist with the fund tax return preparation.

How do I make changes to my Auto-invest?

There are two ways to manage/edit your Auto-invest recurring order.

  1. Go into the individual security page and under Your Investment, you will see ‘Recurring Order’ which displays the recurring order you have set up. The Manage button allows you to change the frequency, amount or next order date, or to delete the recurring order.
  2. Alternatively, go into the Auto-invest section under the Profile settings and see all the recurring orders you have set up in one place. From there you can edit, skip or delete your recurring orders.
Is Betashares Direct available for joint accounts?

We are actively working on making this feature available. Contact Customer Support to be notified when joint accounts become available on Betashares Direct.

How do I close a Portfolio?

To close a Portfolio, you will first need to withdraw the entire portfolio balance to your Cash Wallet by navigating to ‘Manage’ in your Portfolio, and selecting ‘Transfer out’. Once this is completed, you can close your Portfolio by navigating to the menu button on the top right of the ‘Manage’ screen. Any additional distributions or other payments relating to the investments in your Portfolio received after you close your portfolio will be paid into your Cash Account.

Will the tax information relating to my Betashares Direct account be prefilled in my tax return?

When we make your annual tax statement available on Betashares Direct, we will also send tax statement data electronically to the ATO so it can be prefilled in your tax return.

While CGT statement data will also be sent electronically to the ATO, this information will not be prefilled.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

When will the tax reporting be available?

You will generally be able to access your tax reporting by the end of August each year. The tax reporting timeline is as follows: 

July 

ETF issuers undertake tax calculations in relation to their ETFs.

Early August 

ETF issuers begin to provide tax information to investors (including to Betashares Direct). Note: any delays in issuers providing this information may affect the timing of the availability of your Betashares Direct tax statements.

Mid-August  

Betashares Direct prepares your annual tax statement and CGT statement.  

End of August 

Your tax statement and CGT statement will be ready in Betashares Direct. We’ll notify you by email when they become available. 

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Will Betashares assist with identifying any assets held in a Betashares Direct account that may be subject to tax exemptions?

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.

How do I close my account?

You can request to close your Betashares Direct account at any time by contacting us.

Before closing your account, you will need to:

  • Sell or transfer out all your investments
  • Close any Managed Portfolios
  • Turn off distribution reinvestments
  • Withdraw all cash from your Cash Wallet to your nominated bank account.

Once all your investments have been sold and you have no cash balance remaining in your Cash Wallet, please reach out to Customer Support via in-app chat and request to begin the account closure process.

Will I pay tax on distributions?

Distributions form part of your taxable income, regardless of whether they are reinvested or received and retained in your Cash Wallet. Please refer to Section 6 of the Product Disclosure Statement for more information and consider seeking advice from a registered tax agent.

You can also find more information in the Betashares Direct Tax Guide, as well as referring to guidance from the ATO.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Can Betashares provide an end of year valuation for my investments?

For the purposes of preparing an SMSF’s accounts, statements and annual return, you may need information on the value of investment(s) held on Betashares Direct by your SMSF. 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 transfer balance cap calculations.

Can I claim franking credits on Betashares Direct investments?

When you invest in an ETF that holds shares in Australian companies, there will be franked dividends and franking credits attached to those dividends. The ETF will pass on the franking credits (subject to certain eligibility requirements) to investors.

You may be able to use these franking credits to offset your income tax liability.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Where can I find information for investments held on Betashares Direct (e.g. for the end of year compliance check)?

Information relating to investments held in your Betashares Direct account is detailed in the annual investor statement and the end of year reporting package made available to investors.

What methodology do you apply for calculating the capital gains and losses on the CGT statement?

We adopt a first-in-first-out (FIFO) methodology. This means that Betashares Direct will identify the earliest purchased parcel of units and determine the cost base of those units. The cost base will be matched against the capital proceeds (received from the sale or disposal) for the purposes of calculating a capital gain or loss.

We currently don’t support other methodologies, such as minimum gains or maximum gains. If you wish to adopt a methodology other than FIFO, you will need to make your own calculations of gains/losses.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Is Betashares Direct integrated with Class and BGL accounting software?

At this stage, Betashares Direct is not integrated with Class and BGL accounting software. However, it is anticipated that integration will be in place in mid-2025, and will include the ability to access data from the opening of the account.

CSV exports will also be available soon for investors who may need to provide trade information to their accountant or to software applications such as Sharesight.

Will you incorporate cost base adjustments in the CGT statement?

Yes, we will adjust the cost base of the investments held in your Betashares Direct account by the cost base adjustments disclosed in the relevant ETF’s tax statement.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.  

What is an account designation?

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.

If I sell ETF investments I hold outside of Betashares Direct, will these be included in the CGT statement received from Betashares Direct?

No, these holdings will not be included in your Betashares Direct statements. As we do not have visibility of these holdings or any trades you make outside of Betashares Direct, we cannot include them in the capital gain/loss calculations provided in your CGT statement. You should consult with your tax adviser to determine your capital gains or losses for investments held outside your Betashares Direct account.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.  

I transferred holdings into my Betashares Direct account during the financial year from another broker. How is this information treated on my tax statement and CGT statement?

The information will be presented in two separate statements:

  1. The Annual Tax Statement issued by Betashares will include any income attribution from the date the relevant holdings were transferred to your Betashares Direct account. Any income attributed to you prior to this date will be reported to you directly by your previous account or registry service provider(s). You may receive multiple tax statements for the same investments for a financial year.
  2. After the completion of the transfer, Betashares records the cost base for each of your transferred holdings (as provided by you to Betashares) and the price at which your investments are sold through Betashares Direct, so the capital gains and losses on any transactions can be calculated and reported in your CGT statement.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

General
Who is Betashares?

Betashares is a leading Australian fund manager, with a focus on exchange traded funds (ETFs). Established in 2009 with the vision of enabling every Australian to financially progress, we serve over 1 million investors and thousands of financial advisers, managing more than $40 billion in assets.

Learn more about Betashares here.

What is Betashares Direct?

Betashares Direct is a new investing platform designed to help you build wealth, your way.

With Betashares Direct you can invest in ETFs traded on the ASX with zero brokerage. You can set up recurring investments and cost-effectively automate your investing strategy by accessing professionally constructed pre-built portfolios or build-your-own custom portfolios, all with streamlined, personalised performance and tax reporting to make your investments simple to administer and manage.

*Refer to the Product Disclosure Statement for more information on interest retained by Betashares on cash balances and Managed and Custom Portfolio fees.

Is Betashares Direct CHESS sponsored?

Betashares Direct is a new investing platform designed to help you build long-term wealth. Investors benefit from zero brokerage, fractional investing, and personalised portfolio performance and tax reporting.

To deliver all these benefits to Australian investors, Betashares Direct does not act as a broker and is not CHESS-sponsored. Rather, your investments are held on a pooled basis by the custodian of Betashares Direct (Citigroup Pty Ltd). You are the beneficial owner of the investments held in your Betashares Direct account, and as the beneficial owner, you retain the rights to distributions paid on your investments.

What is fractional investing?

All ETF units held through your Betashares Direct account are fractionalised.

Fractional investing allows you to invest any amount above $10 (being the minimum investment amount to buy a fraction of an ETF unit), giving you the flexibility to invest without having to invest in whole units. This means you can invest the full amount of your choice, with no residual cash left sitting uninvested.

Another benefit of fractional investing is the ability to reinvest the entire distribution you receive from your ETF holdings. Every dollar of the distribution is reinvested, with no residual cash left sitting uninvested.

Accounts
How do I open a Betashares Direct account?

It takes just a few minutes to open an account with Betashares Direct.

Simply sign-up via Web or download the Betashares Direct app for your iOS device via the App Store or for Android via Google Play. You can then sign-up and register for an account by providing:

  • Your email address
  • Your name, date of birth, and address (as they appear on your ID)

We may also ask you for additional information as part of this process, including details of your current Australian driver’s licence or a passport with at least three years remaining until expiry.

What if I don’t have a passport or driver’s licence?

If you don’t have a current Australian driver’s licence or a valid passport, our Customer Support team can assist you through live chat or via email ([email protected]). You may be requested to provide additional details to complete verification, e.g. your Medicare card, bank statement or utility bill information.

To comply with Australian AML/CTF laws and AUSTRAC guidelines, Betashares is required to collect certain personal details to open a Betashares Direct account for you. This includes your legal name, date of birth, address, and source(s) of wealth.

Who can open an account?

Betashares Direct is currently available to individuals, SMSFs and Trusts but will be available soon to other types of investors, including Corporate and joint accounts.

To get started, individual investors will need to:

  1. be at least 18 years old
  2. be an Australian resident for tax purposes
  3. have an Australian bank account
  4. have an Australian residential address
  5. have a valid email address.
How does Betashares protect my account and personal data?

The security of your Betashares Direct account is very important to us. We have implemented robust measures to safeguard your account and your personal information:

  • You are verified by email when your account is created and each time you login.
  • We will notify you when a new login is detected, highlighting the time of login and device used.
  • For mobile, access to your account is secured with a unique passcode. If supported by your device, you can use Face ID for quick and secure access.
  • Data, including any personal information, is encrypted to prevent external attackers accessing unencrypted data and to help protect against data breaches.
  • Protections are in place if your Betashares Direct account is shared on screen sharing tools typically used in phishing attempts.

Do I own my investments held on Betashares Direct?

You are the beneficial owner of the investments held in your Betashares Direct account. As the beneficial owner, you retain the rights to distributions paid on your investments. You have the sole right to dispose of (sell) your investments.

All investments are held on a pooled basis by the custodian of Betashares Direct. Betashares has appointed Citigroup Pty Ltd as the custodian to hold investments on Betashares’ behalf.

When you open a Betashares Direct account, a Cash Wallet will be opened for you. The cash in your Cash Wallet will be pooled with the cash balance of other investors and held in one or more Australian bank accounts operated by the custodian.

Why don’t I have a holder identification number (HIN)?

Betashares Direct is not a broker and is not CHESS-sponsored, so you will not be issued with a HIN by the ASX in relation to your holdings. Rather, your investments are held on a pooled basis by the custodian of Betashares Direct (Citigroup Pty Ltd). You are the beneficial owner of the investments held in your Betashares Direct account and as the beneficial owner, you retain the rights to distributions paid on your investments.

Additionally, Betashares handles all the admin and registry work for investments held within Betashares Direct, so you don’t need to register with a separate unit registry to manage your holdings. You can add and update your nominated bank account details in Betashares Direct, update your DRP preferences, provide your TFN, and access your tax statements.

Cash Wallet
How do I make a deposit into my Cash Wallet?

Once your account has been opened, you can transfer money from your nominated Australian bank account into your Cash Wallet.

  1. Your Cash Wallet has a unique BSB and account number, which can be found by tapping or clicking on the Cash Wallet icon found on the home screen.
  2. You will need to ensure that you enter the correct BSB and account number when transferring money from your nominated bank account.
  3. The account number for your Cash Wallet is unique to your Betashares Direct account, so there is no need to include a description or reference when making the transfer from your bank account.

Your transfer will usually appear in your Cash Wallet within 1 hour, but may take up to 3 business days, as processing times may vary by bank.

Some banks may place a one-day hold on your first transfer via Osko. Subsequent Osko transfers will typically be processed instantaneously.

What is the minimum deposit amount?

There is no minimum deposit amount when transferring from your nominated bank account into your Betashares Direct Cash Wallet. The minimum order value for an ETF buy order on Betashares Direct is $10. There is no minimum order value for a sell order.

The minimum deposit amount for a Managed or Custom Portfolio depends on the payment method:

  1. Kickstart deposit from your Cash Wallet - no minimum
  2. Recurring deposit by direct debit from your nominated bank account - $100
  3. Top-up any time from your Cash Wallet - no minimum
  4. Top-up or schedule recurring payments any time via bank transfer from your nominated bank account - no minimum
How do I make a withdrawal?

You can request a withdrawal of cash from your Cash Wallet to your nominated bank account at any time. There is no minimum withdrawal amount. You will need to ensure the nominated bank account is held in the same name as your Betashares Direct account.

Withdrawal requests are usually processed within 2 business days after the later of (a) receipt of the request (where no investments are required to be sold to fund the request) or (b) settlement of any outstanding sell orders required to fund the request. Betashares may suspend or delay withdrawals from your Cash Wallet in certain circumstances (see the PDS for more information).

Can I change my nominated bank account?

Yes, you can change your nominated bank account by following these steps:

  1. Navigate to Settings in Betashares Direct.
  2. Go to Linked Bank Accounts.
  3. Add your new bank account details.

Investing
What are the investment options on Betashares Direct?

Betashares Direct currently offers access to the following investment options:

  • ETFs traded on the ASX or Cboe Australia
  • Auto-invest – set recurring orders into up to 5 Betashares ETFs
  • Managed Portfolios – invest in a range of professionally constructed portfolios to suit different risk/return profiles and investment strategies
  • Custom Portfolios – build your own custom ETF portfolio (up to a maximum of 10 ETFs) to suit your own goals and financial circumstances.

Do I need to deposit money into my Cash Wallet before I can invest?

Yes, before you can submit a buy order for ETF units you will need to make a deposit into your Cash Wallet. The minimum amount for a buy order is $10.

What types of orders are available on Betashares Direct?

There are two types of order available on Betashares Direct.

Limit Orders

A limit order is an instruction to buy or sell a security at a price specified by you (or better).

A ‘Buy’ limit order will only be executed if the market price reaches your specified price (or lower). A ‘Sell’ limit order will only be executed if the market price reaches your specified price (or higher).

When placing a limit order, you will need to set an expiry date on the order. You can choose one of the following:

  • End of the current trading day
  • 7 days
  • 30 days
  • 60 days

The execution of a limit order is not always certain. Limit orders are executed based on the quantity or dollar amount you wish to buy or sell. The order will remain outstanding until the total quantity or dollar amount you have specified has been bought or sold (as applicable), the order expires, or it is cancelled by you.

Limit orders for ETF units will be executed on a trading day between 9.30am and 4.10pm AEST if the market price reaches your specified price (or better) on the relevant trading day, i.e. in addition to normal market hours, a limit order can also be executed during the opening auction or closing auction.

Market Orders

A market order is an instruction to buy or sell a security at the prevailing market price (which will not be determined until the order is executed and may be different to the indicative price displayed at the time you place the order).

Market orders for ETF units that are placed outside of market hours will generally be executed after the market opens on the next trading day (at or after 10.15am AEST, after the opening auction).

Why are market orders for ETP units executed or after 10:15am and not 10.00am?

In the first 15 minutes of trading, there can be a lot more volatility in ETP prices. In this situation, a market maker’s spreads may tend to be wider and the iNAV will be based on a price that can significantly move in a short period of time. To avoid being exposed to such risk, market orders will only be executed 10:15am on the relevant trading day.

Can I edit or delete a pending order?

You can edit or delete an order if it has not yet been executed. To edit or cancel a pending order:

  • Navigate to Activity
  • Select the pending order
  • Edit or delete the order.

Portfolios
What are Managed and Custom Portfolios?

Portfolios let you easily and efficiently automate your investing strategy. Portfolios allow you to:

  • Make recurring or one-off investments from your bank account directly into your Portfolio
  • Choose from a range of diversified professionally constructed portfolios, or customise your own investment strategy
  • Instantly top up your Portfolio direct from your Cash Wallet
  • Investments into a Portfolio are made according to the applicable investment strategy
  • Automatic rebalancing of your portfolio
  • Automatic reinvestment of distributions
  • Low monthly fees with zero brokerage

How do I create a Managed Portfolio?

You can create a Managed Portfolio in a few simple steps:

  1. Navigate to Home and select ‘Portfolios’
  2. Select from one of our professionally constructed Managed Portfolios, or build your own Custom Portfolio
  3. Set up recurring deposits into your Portfolio
  4. Link a bank account for direct debit
  5. Create your Portfolio

What is a Managed Portfolio?

Managed Portfolios are diversified portfolios that are constructed and managed by Betashares’ investing experts.

There are currently three managed portfolios you can choose from:

  1. Balanced: This portfolio has a balanced weighting across Australian Shares, Global Shares, Fixed Income and Cash. It may suit an investor with a medium risk profile, who is willing to accept some volatility in their portfolio.
  2. Growth: This portfolio has a higher weighting to Australian Shares and Global Shares. It may suit an investor with a medium to high risk profile, who is willing to accept higher volatility.
  3. High Growth: This portfolio has a high portfolio weighting in Australian Shares and Global Shares. It may suit an investor with a high risk profile who is willing to accept high volatility.

The benefits of Managed Portfolios include:

  • Choose from a range of diversified portfolios based on your risk profile
  • Low monthly fees with zero brokerage
  • Deposits are automatically invested according to your chosen portfolio’s target asset allocation and investment strategy
  • Automatic monitoring and rebalancing of your portfolio
  • Automatic reinvestment of distributions
  • Instantly top-up your direct from your Cash Wallet
  • Make recurring or one-off deposits direct from your bank account.

If your investment objective or risk profile changes, you can easily switch from one Managed Portfolio to another by clicking on the ‘Manage’ button within your Managed Portfolio account. Bear in mind that changing your portfolio may affect your returns and have tax implications.

What is a Custom Portfolio?

A Custom Portfolio allows you to control your investing strategy by building your own portfolio of up to 10 ETPs.

Custom Portfolios are generally only suitable for investors who have sufficient financial knowledge and skills to create a portfolio that meets their risk tolerance and investment objectives.

The benefits of Custom Portfolios include:

  • Set your own portfolio weights for up to 10 ETPs
  • Ability to elect to turn rebalancing on or off, as well as set rebalancing frequency from the available options
  • Low monthly fees with zero brokerage
  • Deposits are automatically invested according to your instructed investment allocation
  • Automatic rebalancing of your portfolio (if you haven’t elected to turn off rebalancing)
  • Automatic reinvestment of distributions
  • Instantly top-up direct from your Cash Wallet
  • Make recurring or one-off deposits direct from your bank account

How do I deposit into my Portfolio?

There are several ways to make a deposit into your Portfolio:

  1. From your Cash Wallet
  2. By bank transfer (each Portfolio you create has its own unique BSB and account number)
  3. Top up any time via direct debit
  4. Set up a recurring deposit from your nominated bank account via direct debit


How long it takes for your deposit to be received in your Portfolio will depend on the method you use:

  • Transfer from your Cash Wallet: instant
  • Bank transfer: generally within seconds if your bank transfers via Osko, although your first bank transfer may take longer as some banks may place a one-day hold on the payment.
  • Direct debits initiated within Betashares Direct can take up to 4 business days.

Once the deposit is available in your Portfolio ,the amount will be invested in accordance with the applicable investment allocation (as described in the PDS). Units will be acquired at the applicable market prices when the order is executed (generally within 2 business days after the deposit is received).

Distributions
How do I receive distributions?

Distributions paid on ETFs you hold outside a Managed Portfolio will by default be reinvested into the same ETF. However, you can opt out of automatic reinvestment, and choose to receive your distributions in cash, which will be paid into your Cash Wallet. To select cash distributions, navigate to ‘Reinvestments’ under ‘Settings’.

Distributions you receive from ETFs held in your Managed Portfolio will automatically be reinvested. You cannot opt out of automatic reinvestment for your Managed Portfolio.

Distributions form part of your taxable income, regardless of whether they are reinvested or taken in cash. Please refer to Section 6 of the Product Disclosure Statement for more information and speak to your tax adviser.

When are my distributions received in my Cash Wallet or reinvested?

Distributions are usually received in your Cash Wallet or reinvested on the day they are paid by the issuer of the relevant ETF but, in some circumstances, distributions may be received/reinvested up to two business days following the payment date.

At what price are my distributions reinvested?

Distribution payments from the investments you hold (outside of a Managed Portfolio) will be received in cash into your Cash Wallet and then used to automatically acquire additional units at the applicable market price at the time the order is executed, generally within 1-2 business days after the cash distribution is received.

You may elect (via the Betashares Direct App) to not have such distribution payments reinvested, in which case the relevant amounts will be retained in your Cash Wallet.

Fees
What are the fees and costs for using Betashares Direct?

Betashares Direct aims to keep your costs low, to help you maximise your investment returns over the long-term.

No brokerage fees apply to buying or selling ETFs using Betashares Direct.

Low monthly portfolio fees apply for Managed and Custom Portfolios.  

Interest income received by Betashares in respect of the cash balance held in Betashares Direct account is retained by Betashares. This amount is not directly deducted from your Betashares Direct account.

Consistent with Betashares’ philosophy and focus on helping clients build long term wealth, Betashares Direct is subject to a fair use policy to ensure the platform is not used in an excessive or unreasonable manner.

Are there any account fees associated with Betashares Direct?

There are low monthly fees if you use the Managed or Custom Portfolio features (see below for more information). Interest income received by Betashares in respect of the cash balance held in your Betashares Direct account is retained by Betashares. This amount is not deducted directly from your account. Refer to the PDS for more information.

For Managed and Custom Portfolios, the following portfolio fees apply:

Managed Portfolios: For portfolio balances between $0 and $10,000, the Portfolio Fee is $3 per month. For portfolio balances greater than $10,000, the Portfolio Fee is 0.20% per annum (p.a.) of the portfolio balance.

Custom Portfolios: For portfolio balances between $0 and $10,000, the Portfolio Fee is $4 per month. For portfolio balances greater than $10,000 the Portfolio Fee is 0.25% p.a of the portfolio balance.

Tax
Why does Betashares Direct need my TFN or ABN?

Providing your Tax File Number (TFN) or Australian Business Number (ABN) is not mandatory. However, if you do not provide your TFN or ABN, withholding tax may be deducted from your distributions at the highest marginal tax rate (plus the Medicare Levy), unless you are eligible to claim an exemption.

You can provide any applicable tax exemption information to our Customer Support team.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

What tax reporting will I receive at year end?

You will receive a single tax statement that provides a summary of the taxable income from ETPs you held during the year.

In addition to this, you will receive a CGT statement with capital gain and loss information on any investments you sold during the year.

When preparing your tax return, you will need to combine the information from the annual tax statement and the CGT statement to determine your taxable income and net capital gain or loss position for the investments in your Betashares Direct account.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Where do I find my annual tax statement and CGT statement?

Your annual tax statement and CGT statement are available within the Betashares Direct App after the end of 30 June each year. We will notify you by email once your statements are ready to access.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Why are there capital gains reported in both the annual tax statement and CGT statement?

The annual tax statement provides information on capitals gains realised within the ETFs you hold through your Betashares Direct account, which are passed through to you and reported under the individual tax return labels 18H and 18A. These capital gains components are referred to as ‘indirect capital gains’. These amounts will automatically prefill in your individual tax return.

The CGT statement sets out the capital gains and losses realised on any investments you sold via Betashares Direct during the relevant tax year. These capital gains and losses are referred to as ‘direct capital gains/losses’.

You will need to combine your direct and indirect capital gains/losses to arrive at your complete position (in relation to the holdings in your Betashares Direct account), before applying the CGT discount.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

How does Betashares Direct help me with tax reporting?

Betashares Direct has been built to simplify tax time for you.

At the end of each financial year, Betashares will provide you with a single annual tax statement relating to all your investments in Betashares Direct. This includes gains and losses from ETFs sold over the last financial year, income received from ETF distributions, and a consolidated report of all the tax attributes associated with your ETF holdings on Betashares Direct. You or your tax agent will be able to use this document for the preparation of your tax return.

In addition, information from your Betashares Direct annual tax statement will be provided to the ATO, which will be used to pre-fill your tax return.

The Betashares Direct Tax Guide is also available to assist you or your tax agent with the preparation of your tax return.

Disclaimer

The information provided is of general nature only and should not be construed as tax advice. It is recommended that you seek tax advice specific to your personal circumstances from a registered tax agent before making an investment decision.

Portfolio Transfers
What do I need before I transfer my ETF holdings from another account to Betashares Direct?

It can take less than five minutes to submit your portfolio transfer if you have the required information at hand. The process is initiated online.

Before you start, make sure you have:

  • Details of the other account that you’ll be transferring your holdings from, including your HIN or SRN
  • Details of the ETF holdings to be transferred, including ASX code, the quantity you want to transfer and (if available) the cost price and purchase date of the relevant holdings
  • A photo ID for each account holder.
How do I transfer ETF holdings from another account to Betashares Direct?

It’s a simple process to transfer your holdings from another account to Betashares Direct.

  • Log in to Betashares Direct, click on 'Profile' and then 'Transfer request'
  • Enter the details of your other account
  • Enter details of the holdings you want to transfer including the quantity you want to transfer and (if available) the cost price and purchase date of the relevant holdings
  • Upload photo ID e.g. driver’s licence or passport
  • Review, digitally sign and submit.

We take care of the rest and will let you know when your holdings have been transferred to your Betashares Direct account.

Do I need to contact the other account provider or broker I am transferring my holdings from?

No, we will arrange with your other account provider to process the transfer after you submit the transfer request. If there are any missing details, we will contact you directly.

How much does it cost to transfer ETF holdings to Betashares Direct?

We do not charge a fee to transfer holdings into your Betashares Direct account from another account. Your other account provider may charge fees - be sure to check before you submit the transfer request. A fee will apply for a transfer of your holdings from your Betashares Direct account to another provider. Refer to the Product Disclosure Statement for more information.

Can I transfer shares?

No. Betashares currently only supports the transfer of exchange traded products traded on Australian exchanges that are accessible via Betashares Direct.

SMSF and Trust accounts
How do I open an SMSF or Trust account with Betashares Direct?

You can set up a Betashares Direct account in the name of your SMSF or trust in two ways:

  1. Users with an existing account (e.g. an individual account): Log into your account, press on the Profile Icon, select ‘Add a new account type’, and follow the prompts.
  2. Users without an existing account: When creating a new account, select ‘SMSF’ or ‘Trust’ when asked the account type to open and follow the prompts.
What do I need to open an SMSF or Trust account with Betashares Direct?

SMSF

  • ABN for the SMSF  
  • ACN for the SMSF trustee (if a corporate trustee)
  • Driver’s licence/passport details (for each individual trustee or, for a corporate trustee, for each company officer)

Only applications by SMSFs that are Australian complying super funds will be accepted.

Trust

  • ABN for the trust
  • ACN for the trustee (if a corporate trustee)
  • Driver’s licence/passport details (for each individual trustee, or for a corporate trustee, for each company officer, as well as any ultimate beneficial owners)
  • Digital copy of the trust deed

Only applications by Australian trusts will be accepted.

Can Betashares set up an SMSF for me?

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.

Who can access my SMSF or Trust account on Betashares Direct?

Only the SMSF trustee, or the director of the SMSF trustee, where the trustee is a company, who has set up the account can access and provide instructions in relation to the Betashares Direct account.

Do I need separate log-in details for my different account types?

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 accounts from the Profile tab.

Auto-invest
What ETFs can I use Auto-invest for?

You can set up recurring orders via Auto-invest for all Betashares ETFs, excluding short funds or other funds as determined by Betashares.

Auto-invest does not support ETFs issued by other providers.  If you would like to set up recurring investments into ETFs issued by other managers, you can do so by setting up a Custom Portfolio (portfolio fees will apply).

How many ETFs can I set up Auto-invest for?

You can set up recurring orders for a maximum of 5 Betashares ETFs. You have the flexibility to set these orders to have different frequencies, amounts (subject to a minimum of $100 per recurring order) and start dates.

If you would like a recurring investment strategy that includes more than 5 Betashares ETFs or includes non- Betashares ETFs, you may wish to consider setting up a Custom Portfolio (portfolio fees apply).

How do I set up Auto-invest?

It’s simple to set up a recurring order with Auto-invest. There are two ways to set up a recurring order.

  1. Navigate to a Betashares ETF, and click on Buy: select the order type dropdown and select Auto-invest recurring order.
  2. Through the Auto-invest settings section under your Account profile. From here you can select one or more ETFs for recurring order(s).

For each recurring order you have the flexibility to set:

  1. The frequency: weekly, fortnightly, or monthly
  2. The amount: a minimum amount of $100 applies per recurring order
  3. The date for the first order to be executed
How is my recurring order funded?

All recurring orders are executed brokerage-free using available cash from the Cash Wallet in your Betashares Direct account. For your orders to be executed, you must have sufficient available cash in your Wallet the day before the order is scheduled. We recommend setting up a recurring transfer from your bank account into your Wallet, so that the entire process – from funding your wallet through to your recurring investment – is automated.

Please note: if you have multiple recurring orders scheduled for the same day, you will need to make sure you have sufficient available cash in your Wallet to cover all the orders. We will not place partial orders, or select a fund to invest in - if there is insufficient available cash in your Wallet, none of your scheduled orders will be executed. Your recurring order instructions will remain in place and will be executed on the next scheduled date (assuming you have sufficient available cash in your Cash Wallet).

What time of day will my recurring order be executed?

Recurring orders are placed as a market order at 11.00am on the scheduled date (assuming it is a trading day, otherwise it will be placed on the next trading day after the scheduled date).

Still have questions?

Access support your way: whether it be live chat, email, or phone, our expert Australian-based support team is here to help.

Contact Support
Address
Level 46, 180 George Street, Sydney NSW 2000
Contact
1300 487 577
[email protected]