How can we help?

How much time does an SMSF take to manage?

The amount of time it takes is dependent on the investment approach and knowledge / skills of the trustees. Investment research and regularly reviewing the SMSF investment strategy are the key activities required.

Administration time includes paying SMSF related fees and taxes when required, reviewing and signing financial statements and the SMSF annual tax return and providing the SMSF administrator any required records or documentation they need. Administration time is relative to the complexity of the SMSF investment strategy and investment holdings. For most SMSFs with simple listed investments, the administration time commitment each financial year would be minimal.

 

How do I add a member to my existing SMSF?

Yes, we can add an additional member to your SMSF. To get started, please have them complete the form below:

Add an additional member

Please note, a $199 fee applies when adding or removing a member from your fund.

What happens next

Once we receive the new member’s details, we’ll:

• Send the required documentation to all SMSF members for signing
• Submit the member update to ASIC and the ATO
  • These updates can take up to 28 days to be reflected once lodged

Important timing note

The new member must be officially registered with the ATO before they can transfer their existing super into the SMSF.
However, employer contributions can be made immediately once the process is underway.

If you have any questions or need a hand at any stage, feel free to reach out.

How do I make a binding death benefit nomination for my SMSF?

You can request a Binding Death Benefit Nomination (BDBN) by completing the form below:
Complete the form

Once we’ve received the completed form, we’ll update our records and let you know.

Reach out if you have any questions in the meantime.

What is the process to close / shut down my SMSF?

Generally, winding up an SMSF involves liquidating all investment assets to cash, rolling out member balances to a chosen complying super fund, preparing final accounts, tax return and audit. If there is a corporate trustee, the trustee company may also be deregistered with ASIC.

Any fees and taxes must be paid in advance.

Your final member balances are calculated and rolled out via super stream to your chosen complying superannuation fund.

Please email us at smsf@hellostake.com if you wish to close down your SMSF.

What happens to my SMSF if I move overseas?

If you permanently move overseas or move overseas for an extended period (typically 2 or more years) you may no longer be eligible to be a trustee of an SMSF.

You may appoint an Enduring Power of Attorney to take over your role as trustee (or director of the the trustee company of the fund) while you remain a member, however the person(s) appointed as trustees are in control of the fund - NOT you as the member.

We recommend you seek specialist advice specific to your personal situation.

How do I transfer my SMSF to another accountant or SMSF provider?

If you decide to engage a different provider to assist you in managing your SMSF you need to notify us in writing that you are cancelling our SMSF Administration service. Email us at smsf@hellostake.com.
 

We will provide any relevant records and documents to either you or your new nominated provider (electronically). Certain internally generated files, file notes and working papers will remain our property. We also have certain legal and compliance requirements to keep records relating to your SMSF after your relationship with us has ceased.

Does Stake Super accommodate for running a pension within my SMSF?

Absolutely, Stake Super accommodates SMSFs running pension accounts. Although we don’t charge any additional fees for the ongoing administration of SMSFs holding pension accounts, depending what package you are on, there may be additional one-off fees payable to prepare the legal documents that are required as part of the pension commencement. Please read our full fee schedule here or book a call to speak directly to a specialist.