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.
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.
Betashares is a leadingAustralian financial services company dedicated to helping customers buildlong-term wealth.
We currently manageover $44 billion in assets, and serve more than one million investors and thousands of financial advisers who are helping Australians achieve their financial goals.
Betashares has a rangeof investment solutions to help customers meet their financial aspirations including the broadest range of ETFs on the Australian market, investingplatform Betashares Direct, and a superannuation offering.
Learn more about Betashares here.
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:
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.
Betashares Direct currently offers access to the following investment options:
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:
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.
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:
You can set up a Betashares Direct account in the name of your SMSF or trust in two ways:
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).
Once your account has been opened, you can transfer money from your nominated Australian bank account into your Cash Wallet.
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.
Portfolios let you easily and efficiently automate your investing strategy. Portfolios allow you to:
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.
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.
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.
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.
It’s a simple process to transfer your holdings from another account to Betashares Direct.
We take care of the rest and will let you know when your holdings have been transferred to your Betashares Direct account.
SMSF
Only applications by SMSFs that are Australian complying super funds will be accepted.
Trust
Only applications by Australian trusts will be accepted.
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).
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:
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:
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.
You can create a Managed Portfolio in a few simple steps:
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.
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.
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.
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:
Once you have submitted the transfer request to us, we will handle the administrative side of the portfolio transfer.
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.
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.
It’s simple to set up a recurring order with Auto-invest. There are two ways to set up a recurring order.
For each recurring order you have the flexibility to set:
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.
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).
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:
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).
Managed Portfolios are diversified portfolios that are constructed and managed by Betashares’ investing experts.
There are currently three managed portfolios you can choose from:
The benefits of Managed Portfolios include:
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.
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.
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.
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.
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.
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.
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.
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).
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.
Yes, you can change your nominated bank account by following these steps:
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.
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:
No. Betashares currently only supports the transfer of exchange traded products traded on Australian exchanges that are accessible via Betashares Direct.
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.
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).
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.
You can edit or delete an order if it has not yet been executed. To edit or cancel a pending order:
There are several ways to make a deposit into your Portfolio:
How long it takes for your deposit to be received in your Portfolio will depend on the method you use:
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).
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.
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.
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.
No, you cannot transfer investments from individual to non-individual accounts on Betashares Direct.
For each recurring order, the minimum amount per order is $100.
Your account number can be found at the top of your quarterly statement.
Several factors can contribute to your order not being filled. These include:
Set-up a recurring deposit following these steps:
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.
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.
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.
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.
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.
To sell ETFs on Betashares Direct:
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).
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:
Custom Portfolios
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.
At the end of each income year, Betashares will issue the following statements and reports to assist with tax return preparation:
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.
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.
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.
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.
To withdraw funds from your Portfolio you need to initiate a transfer of money to your Cash Wallet by following these steps:
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:
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.
An annual tax statement and tax report will be provided at the end of year to assist with the fund tax return preparation.
There are two ways to manage/edit your Auto-invest recurring order.
We are actively working on making this feature available. Contact Customer Support to be notified when joint accounts become available on Betashares Direct.
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.
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.
No, Betashares Direct does not engage in payment for order flow. Note that PFOF is prohibited under Australian law to ensure that investment platforms and brokers prioritise client outcomes over third-party incentives.
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.
If your SMSF currently pays retirement phase income streams to its members, the income from investment assets supporting the retirement phase (or pension) income streams will generally be subject to an exemption from income tax.
Betashares cannot identify these assets on behalf of a trustee of an SMSF. The identification of investment assets supporting the retirement phase income streams will need to be performed by the SMSF trustee(s). We recommend you seek tax advice from a registered tax agent.
You can request to close your Betashares Direct account at any time by contacting us.
Before closing your account, you will need to:
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.
In the first 15 minutes of trading, there can be a lot more volatility in ETF 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.
Shares
Sharetrading will be available when the symbol opens but market orders cannot beplaced while the market is closed.
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.
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.
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.
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.
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.
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.
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.
An account designation is a specific title given to an account to identify its purpose or ownership. For example:
Review your account statements or any documents you received when opening the account. These often include the account designation.
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.
The information will be presented in two separate statements:
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.
Betashares is a leadingAustralian financial services company dedicated to helping customers buildlong-term wealth.
We currently manageover $44 billion in assets, and serve more than one million investors and thousands of financial advisers who are helping Australians achieve their financial goals.
Betashares has a rangeof investment solutions to help customers meet their financial aspirations including the broadest range of ETFs on the Australian market, investingplatform Betashares Direct, and a superannuation offering.
Learn more about Betashares here.
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.
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.
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.
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:
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.
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:
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 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.
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.
Once your account has been opened, you can transfer money from your nominated Australian bank account into your Cash Wallet.
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.
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:
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).
Yes, you can change your nominated bank account by following these steps:
Betashares Direct currently offers access to the following investment options:
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.
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:
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).
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.
You can edit or delete an order if it has not yet been executed. To edit or cancel a pending order:
Portfolios let you easily and efficiently automate your investing strategy. Portfolios allow you to:
You can create a Managed Portfolio in a few simple steps:
Managed Portfolios are diversified portfolios that are constructed and managed by Betashares’ investing experts.
There are currently three managed portfolios you can choose from:
The benefits of Managed Portfolios include:
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.
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:
There are several ways to make a deposit into your Portfolio:
How long it takes for your deposit to be received in your Portfolio will depend on the method you use:
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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:
It’s a simple process to transfer your holdings from another account to Betashares Direct.
We take care of the rest and will let you know when your holdings have been transferred to your Betashares Direct account.
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.
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.
No. Betashares currently only supports the transfer of exchange traded products traded on Australian exchanges that are accessible via Betashares Direct.
You can set up a Betashares Direct account in the name of your SMSF or trust in two ways:
SMSF
Only applications by SMSFs that are Australian complying super funds will be accepted.
Trust
Only applications by Australian trusts will be accepted.
No, Betashares cannot set up an SMSF for you. The trustee(s) of an existing SMSF can set up a Betashares Direct account to make investments through the platform on behalf of the SMSF.
There is comprehensive information about setting up an SMSF on the Australian Taxation Office’s website. You can access by clicking this link: https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/setting-up-an-smsf.
Only the 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.
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.
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).
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).
It’s simple to set up a recurring order with Auto-invest. There are two ways to set up a recurring order.
For each recurring order you have the flexibility to set:
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).
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).
Access support your way: whether it be live chat, email, or phone, our expert Australian-based support team is here to help.
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