Clients of GETSMSF are permitted to deposit in Online Investment Accounts with GET for the purpose of investing in Financial Markets.

Online Investment Account must not be used as a Transaction Account
If your SMSF invests in an Online Investment Account, the account must be an “Interest Only” paying account and not used for Fund Transactions (eg to accept Fund contributions, rollovers and income and to pay fees and taxes). Fund Transactions must be made through the Funds’ compulsory NAB Plus Account.

Must link the Online Investment Account to the NAB Plus Account
It is a requirement for an Online Investment Account to be “linked” to a Transaction Bank Account to enable the Fund to deposit and withdraw monies to and from that Account. The “linked account” in this instance must be the Funds’ compulsory NAB Plus Account.

Tracking the Online Investment Account
To track the Online Investment Account deposits made by SMSF Clients, GETSMSF requires that cash is first deposited into the Funds’ NAB Plus Account and in turn transferred to the Online Investment Account. For example, if you make a Contribution or Rollover to your SMSF and wish to invest it in an Online Investment Account, it is required that the Contribution or Rollover is first made to the NAB Plus Account and in turn to transferred and invested into the Online Investment Account, rather than directly depositing the amount into the Online Investment Account.

NAB Fees and Commissions
To have an idea of NAB’s Fees and Commissions, click here.
General Information regarding NAB’s business products can be found here.

Record Keeping
In relation to record keeping for an Online Investment Account, GETSMSF will send you a Checklist each year guiding you on what documentation we require to prepare your SMSF’s annual compliance requirements. In particular GETSMSF will require clients to maintain and provide Bank Statements for the NAB Plus Account for the relevant Financial year. GETSMSF will provide all relevant reports for the Online Investment Account.