Please ensure you understand your responsibilities and penalties for non-compliance and understand if you are eligible to run an SMSF and satisfy the residency rules before proceeding. Learn more from the ATO website here.
At no stage can you use these funds for personal use. All funds are only accessible at retirement age. (Check out the ATO website to see when you can access your super) Additionally, All SMSF bank accounts MUST be kept separate from your personal bank accounts. Any mixing of funds may result in government fines. Don’t worry, we will guide you through the process to set up your own SMSF bank accounts, trading accounts etc… we got you!
Only bank and trade with our approved providers. Banks: NAB, Commonwealth Bank, Westpac & ANZ Crypto: Coinspot* To make it easy at tax time we just require a ”read only” access to SMSF accounts via API or data feed where available.
SMSF funds DO NOT permit you to borrow, leverage or short any assets within the fund. This can result in a government fine. However, you can borrow funds to purchase property in an SMSF
You can purchase privacy coins on approved exchanges, but they need to always remain on the exchange. This is due to auditors not being able to verify the location of the coins come tax time.
Good news! You CAN stake coins with your SMSF. Additional staking fee $50 per destination address of each coin Staking rewards on the relevant blockchain must be visible
Our accounting fee allow for a set number of transactions within the fund per financial year. This varies depending on the asset class mix. The fee also covers your tax returns, auditing and compliance. Contact us to find out more.
Any contributions to your SMSF made by you or your employer are taxed at 15% and added to your tax bill when you complete your tax return.
Life insurance, income protection and TPD (total and permanent disability) can all be held in your new SMSF. However, if you would like to retain your insurances held in your retail superannuation fund, please ensure you keep a minimum balance (up to $5000) to keep these policies active.
We provide a FREE 30 minute online SMSF consultation to help you discover how to own crypto through a self managed super fund.
SMSF specialists – Making SMSF set up, accounting an auditing easy
