SMSF Crypto
Accounting
SMSF Cryptocurrency Administration
Bitcoin, Ethereum And Ripple
- Over 9000% increase in value
- Its ‘generally’ a hedge or uncorrelated asset to traditional markets
- Its an emerging sector and Bitcoin is ‘Digital Gold’
SMSF Crypto Coins
Some of the coins our clients invest in their SMSF
Bitcoin Historical Performance
“Bitcoin is a form of ‘Digital’ money. It is, cheap, fast to buy or transfer, private, secure and it is borderless, making it a worldwide currency.”
“Bitcoin is the most important invention in the history of the world since the Internet.”
“I think the fact that within the bitcoin universe an algorithm replaces the function of the government …[that] is actually pretty cool.”
AL GORE, 45th Vice President of the United States
“We will never hear about people’s Bitcoin accounts being frozen or seized by a bank”
Buying Bitcoin In A Self Managed Super Fund (SMSF)
- Does your SMSF deed place restrictions on investing in crypto investments?
- Are your Bitcoin and Crypto assets purchased in the name of your SMSF?
- Does your investment strategy identify your crypto and bitcoin investments?
- Are your Crypto, bitcoin assets stored in a secure wallet and held separate to your personal crypto assets?
What Are The Best SMSF Bitcoin Exchanges
- Bitcoin.com.au – offers 50 coins and fees from 0.75% - 1%
- Kraken – offers 229 coins with fees ranging from 0.90% - 1.5%
- Cointree – offers 200 coins at 0.70% average fee
- Independent Reserve – offers 27 coins for a 0.50% fee
- Easycrypto – offers 210 coins for a 0.90% fee
What Are The Best SMSF Bitcoin Exchanges
- Bitcoin.com.au – offers 50 coins and fees from 0.75% - 1%
- Kraken – offers 229 coins with fees ranging from 0.90% - 1.5%
- Cointree – offers 200 coins at 0.70% average fee
- Independent Reserve – offers 27 coins for a 0.50% fee
- Easycrypto – offers 210 coins for a 0.90% fee
| # | Easycrypto | Cointree | Kraken | Independent Reserve |
|---|---|---|---|---|
|
Coins |
Offer 210 coins |
Offer 200 coins |
Offer 260 coins |
Offer 27 coins |
|
Fees |
0.50% – 0.90% |
0.70% |
0.60% |
0.50% |
|
Verification |
5 Hrs |
1-2 Days |
1 Day |
1-3 Days |
|
Demo |
Yes |
Yes |
Yes |
Yes |
|
Live Chat |
Yes |
Yes |
Yes |
Yes |
|
Mobile App |
Yes |
No |
Yes |
No |
Suitable SMSF Crypto Wallets
There Are Two Types Of Smsf Crypto Or Bitcoin Smsf Wallets
- Software wallets like – Copay & Exodus ( X)
- Hardware wallets like the Ledger & Trezor
Are you a SMSF Crypto Investor, Trader or other
- Are you investing – Hodling? buying and holding
- Are you trading – frequently 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
SMSF Documents for Tax
- Provide a valuation statement of all holdings – most exchanges provide this.
- Provide buy/sell receipts or contract notes – provided by the exchange
- Provider receipts for your storage vault and wallet purchase.
How Are Bitcoins And Crypto Currency Taxed?
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 tax exemptions available for pension members under the current super laws.
Why Use My SMSF For Your Crypto Or Bitcoin SMSF Administration ?
If you sell your bitcoins or Altcoins and convert to Australian dollars, you may be subject to capital gains tax,
t capital gains tax, based on the tax exemptions available for pension members under the current super laws.
If an SMSF member is in pension phase and they sell their crypto assets, they would not attract capital gains tax, based on the tax exemptions available for pension members under the current super laws.
Warning: Seek Financial, Legal and Tax advice before investing in crypto currencies
Our Fees
SMSF Setup $880
With a company trustee SMSF Annual
Administration $1,100
(Accounting +Auditing ) SMSF and Bitcoin Education
Kraken
Cointree
Easy Crypto
Ainslie Wealth
Crypto Currency
Market Capitalizations
Crypto Portfolio
My Holidays
| Symbol | Name | Price | Quantity | Cost Basis | Current Price | Market Value | Total Returns ($) | Gain % | Portfolio % |
|---|---|---|---|---|---|---|---|---|---|
|
|
Bitcoin |
$14631.22 |
11.6827 |
$477575.0842995 |
$24887 |
$290747.35490000003 |
$-186974.04939949996 |
-39.14 % |
196.17 % |
|
|
Litecoin |
$171.32 |
262 |
$46795.680000001 |
$85.83 |
$22487.46 |
$-24618.12000000001 |
-52.26 % |
15.17 % |
|
|
Ethereum |
$2720.96 |
5 |
$13609.5000000002 |
$1865.66 |
$92328.3000000000001 |
$-4308.41 |
-31.59 % |
6.29 % |
|
|
Cardano |
$1.59 |
1 |
$1.59 |
$0.499228 |
$0.499228 |
$-1.100772 |
-68.80 % |
0.00 % |
RM Super Fund
| Security Code | Description | Quantity | Price Per Unit | Cost Basis | Total Valuation |
|---|---|---|---|---|---|
|
|
Bitcoin |
11.6827 |
$90,822.90 |
$353,332.26 |
$353,685.56 |
|
|
Litecoin |
262.0 |
$499.09 |
$32,369.00 |
$32,690.50 |
|
|
Ethereum |
5.0 |
$11,152.83 |
$11,044.37 |
$11,152.83 |
|
|
Cardano |
1.0 |
$0.50 |
$0.49 |
$0.50 |
|
Total |
|
|
|
|
$397,529.39 |
My SMSF supports the following Crypto Tax Software
