Bitcoin SMSF Investing

Bitcoin, Ethereum, Dash 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

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  • Its uncorrelated to other markets and assets
  • It is the hottest investment at the moment, with nearly 9 years of market history
  • It is a hedge against market uncertainty and a store of value and exchange

How do i invest in Bitcoins and Crypto currencies using my SMSF ?

When Investing in these Crypto or Virtual Currencies via your SMSF, you will need to make sure you check the following

  1. The bitcoin assets must be purchased in the name of your SMSF
  2. Check your SMSF Deed to make sure you can invest in bitcoins
  3. Make sure you store your bitcoins in a secure, safe and insured independent location
  4. Make sure you funds auditor is comfortable with auditing your bitcoin and crypto currency assets

It is also important to be aware of the risks and benefits of crypto currency investing.

The money smart site has a great section dedicated to crypto currency

CLICK HERE –  https://www.moneysmart.gov.au/investing/investment-warnings/virtual-currencies

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Tax Treatment of Bitcoins and Cryptocurrency

  • If you sell you bitcoins, this may become a capital gains tax event
  • 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.

For More Details

CLICK HERE – https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia—specifically-bitcoin/

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

  • We are a Certified Bitcoin Professional
  • We have data feeds showing the pricing movements and values of Bitcoin, Ethereum, Dash, Ripple and Bitcoin Cash
  • 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 purchasing options and cheap, secure and compliant storage solutions

Our Friends at Ainslie Bullion provide a Trusted Bitcoin and Gold purchase and storage solution.Buy Bitcoins, by placing a trade order and have it stored in a third party vault Or via Ainslie Bullion’s paper or hardware wallet services. Most importantly it’s a face to face transaction when purchasing bitcoins, which a lot of SMSF members appreciate.

More Detailshttps://www.ainsliebullion.com.au/SMSF.aspx

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Our Fees

  • SMSF Setup $799 with a company trustee
  • SMSF Annual Administration $1,100
  • SMSF Bitcoin trades from 2% to 5% with a minimum order size of $2,000 – $10,000*

*Before fees

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

 

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