Bitcoin SMSF Investing

[vc_row fullwidth=”true”][vc_column][mk_page_title_box page_title=”Bitcoin SMSF Investing” section_height=”300″ bg_image=”https://www.mysmsfproperty.com.au/wp-content/uploads/2017/09/about-1.jpg” bg_position=”center center” bg_stretch=”true” overlay=”rgba(10,10,10,0.2)” bg_effects=”parallax” font_size=”42″ font_color=”#ffffff” font_weight=”400″ underline=”false” padding=”10″ sub_font_size=”24″ sub_font_color=”rgba(255,255,255,0.51)” el_class=”title”][/vc_column][/vc_row][vc_row equal_columns=”true” css=”.vc_custom_1505211795677{margin-top: 25px !important;margin-bottom: 25px !important;padding-top: 45px !important;padding-bottom: 15px !important;}”][vc_column][mk_fancy_title color=”#0a0a0a” size=”26″ font_weight=”400″ letter_spacing=”1″ font_family=”none” align=”center”]Bitcoin, Ethereum and Ripple are some of the most famous digital or crypto currencies in the world. This emerging asset class is generating a lot of interest due to the following beneficial characteristics[/mk_fancy_title][vc_row_inner][vc_column_inner width=”1/4″ css=”.vc_custom_1518749658530{margin-right: 10px !important;}”][mk_image src=”https://www.mysmsfproperty.com.au/wp-content/uploads/2017/09/rsz_bitcoin.png” image_size=”full” align=”center” margin_bottom=”0″][/vc_column_inner][vc_column_inner width=”1/2″][mk_custom_list]

  • Its uncorrelated to other markets and assets
  • It is the hottest investment now, with nearly 10 years of market history
  • It is a hedge against market uncertainty and a store of value and exchange

[/mk_custom_list][mk_padding_divider size=”15″][/vc_column_inner][vc_column_inner width=”1/4″ css=”.vc_custom_1518749671810{margin-left: 10px !important;}”][mk_image src=”https://www.mysmsfproperty.com.au/wp-content/uploads/2017/09/ethereum-1.png” image_size=”full” align=”center” margin_bottom=”0″][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][mk_padding_divider size=”70″][/vc_column_inner][vc_column_inner width=”1/2″][mk_image src=”https://www.mysmsfproperty.com.au/wp-content/uploads/2017/09/g2-1.jpg” image_size=”full”][/vc_column_inner][vc_column_inner width=”1/2″][mk_padding_divider][vc_column_text]BITCOIN HISTORICAL PERFORMANCE[/vc_column_text][vc_column_text]

“Bitcoin has the potential to be comparable to the value of gold…It is a fantastic hedge and store of value against autocratic regimes and banking infrastructure that is corrosive to how the world needs to work properly”

Chamath Palihapitiya

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HOW DO I INVEST IN BITCOINS AND CRYPTO CURRENCIES WITH A SUPER FUND
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WHEN INVESTING IN BITCOIN, OR CRYPTO OR DIGITAL CURRENCIES VIA YOUR SMSF, YOU WILL NEED TO CHECK THE FOLLOWING

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  • Are your Bitcoin and Crypto assets purchased in the name of your SMSF?
  • Does your SMSF deed place restrictions on investing in crypto investments?
  • Does your investment strategy identify your crypto and bitcoin investments?
  • Are your Crypto, bitcoin assets stored in a secure wallet and in an insured independent vault ?
  • Are you ‘shaping’ moving from one coin to another ?

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WHAT ARE THE BEST SMSF BITCOIN EXCHANGES

These are two exchanges that recognise an SMSF account and are easy to deal with[/vc_column_text][mk_custom_list icon_color=”#ffffff” el_class=”text-white”]

  • Cointree – offers 25 coins with 0% commission( limited time)
  • Independent Reserve – offers 4 coins

[/mk_custom_list][vc_column_text el_class=”text-white”]Whilst there is a greater choice of crypto exchanges available to individuals, the options for an SMSF are limited.Trading Fees: range from 0.50% – 1%[/vc_column_text][/vc_column_inner][vc_column_inner][vc_separator color=”white”][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=”1/4″][vc_single_image image=”12847″ alignment=”center”][/vc_column_inner][vc_column_inner width=”3/4″][vc_column_text el_class=”text-white heading-color”]

SUITABLE SMSF CRYPTO WALLETS

There are two types of crypto or bitcoin wallets[/vc_column_text][mk_custom_list icon_color=”#ffffff” el_class=”text-white”]

  • Software wallets like – Copay &  Exodus
  • Hardware wallets like the Keepkey & Trezor

[/mk_custom_list][vc_column_text el_class=”text-white”]For SMSF holdings, only a hardware wallet will be compliant with super laws as these wallets can be purchased by the SMSF directly where as software wallets don’t recognise companies and trusts as owners. [/vc_column_text][/vc_column_inner][vc_column_inner][vc_separator color=”white”][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=”1/4″][vc_single_image image=”12848″ alignment=”center”][/vc_column_inner][vc_column_inner width=”3/4″][vc_column_text el_class=”text-white heading-color”]

WHAT TYPES OF CRYPTO ACTIVITIES ARE YOU UNDERTAKING IN YOUR SMSF

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  • Are you investing – Holding ? buying and holding
  • Are you trading – frequent trading into different coins
  • Are you mining in your SMSF ?
  • You should check the tax implications for all of these types of crypto activities in an SMSF

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END OF YEAR COMPLIANCE REQUIREMENTS

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  • Provide a valuation statement of all holdings
  • Provide buy/sell receipts or contract notes
  • Provider receipts for your storage vault and wallet purchase

[/mk_custom_list][/vc_column_inner][vc_column_inner][vc_separator color=”white”][/vc_column_inner][/vc_row_inner][mk_padding_divider size=”30″][vc_column_text]It is also important to be aware of the risks and benefits of cryptocurrency investing as price fluctuations can be between 10% -30% daily. It is not suitable for many retirement investors.[/vc_column_text][/vc_column][vc_column][vc_row_inner attached=”true”][vc_column_inner width=”2/3″][vc_column_text]The money smart site has a great section dedicated to cryptocurrency [/vc_column_text][/vc_column_inner][vc_column_inner width=”1/3″][mk_image src=”https://www.mysmsfproperty.com.au/wp-content/uploads/2017/09/money_smart.png” image_size=”full” link=”https://www.moneysmart.gov.au/investing/investment-warnings/virtual-currencies” target=”_blank”][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_empty_space height=”30px”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column border_color=”#d6d6d6″ width=”1/2″][vc_row_inner][vc_column_inner][vc_empty_space height=”30px”][mk_fancy_title color=”#0a0a0a” size=”26″ font_weight=”400″ letter_spacing=”1″ font_family=”none” align=”center”]

Tax Treatment of Bitcoins and Crypto Currency

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  • If you sell your bitcoins or Altcoins and convert to Australian dollars, you may be subject to capital gains tax,
  • If an SMSF member is in pension phase and they sell their crypto assets, they would not attract capital gains tax, based on the exemptions prevailing for pension members under the current super laws.

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Why Choose My SMSF for your Bitcoin investments  in a SMSF?

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  • Certified Bitcoin Professional
  • Our auditors are conversant with Bitcoin investing in a SMSF
  • We offer one of the cheapest SMSF Bitcoin Administration services in the country
  • We offer cheap Bitcoin trading options and cheap, secure and compliant storage solutions

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Warning: Seek Financial, Legal and Tax advice before investing in crypto currencies

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Our Fees

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  • SMSF Setup $799 with a company trustee
  • SMSF Annual Administration $1,100 ( Accounting +Auditing )
  • SMSF and Bitcoin Education

Please Note: Our Service is an ‘Execution Only Service’ we do not provide advice on crypto investments[/mk_custom_list][/vc_column_inner][vc_column_inner width=”1/2″][mk_fancy_title color=”#0a0a0a” size=”20″ font_weight=”400″ letter_spacing=”1″ margin_bottom=”10″ font_family=”none” align=”center”]

Ainslie Bullion’s Bitcoin & Gold Services

[/mk_fancy_title][vc_column_text]Our friends at Ainslie Bullion, provide bitcoin, Ethereum and Gold purchase and storage solution. Buy bitcoins, by placing an online order or by going into the showroom to transact and have it stored in a third-party vault Or via Ainslie Bullion’s paper or hardware wallet services.
Read more[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][mk_image src=”https://www.mysmsfproperty.com.au/wp-content/uploads/2017/09/cryptocurrency-community.jpg”][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row][vc_column][vc_column_text disable_pattern=”false”]

Warning:  Always seek advice, both financial and tax related advice, before investing in Crypto Currency. Crypto Currency is very volatile and it is a high risk asset class.

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