Safeguard your future with Australia’s most popular Crypto self managed super fund. Safeguarding your future with smart investing techniques is always a smart idea. New Venture Wealth allows you to invest your retirement savings through your Australian Self-Managed Super Fund in cryptocurrency. We offer free one-on-one consultation to arm you with all the information you need to commence the SMSF cryptocurrency application process. Once you complete your online application, the assigned consultant will assist you in every step to ensure your fund is completed promptly and meets all the ATO regulation requirements.
And once your fund is established, you can commence your crypto journey by investing in bitcoin, Ethereum or any class asset of your choice. It’s time to take advantage of Dollar Cost Averaging into cryptocurrency using your SMSF by timing your investments. It is always a good idea to get exposure to digital assets via Self-Managed Superfund. Many providers like New Venture Wealth will help you set up your SMSFs funds easily. With them, you can access various advanced features such as portfolio tracking, tax reports, personalised live support and earn yields on certain crypto assets. If you are still confused about Self-Managed Superfund, please look at the following benefits of investing in one.
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Current Tax Rate for Cryptocurrency SMSFs
With a record high rate of taxation, the Self-Managed Super Funds may be eligible for a 15% concessional tax rate. For SMSFs to benefit from investing in cryptocurrencies, crypto investments must get permission from the fund’s deeds. To qualify for all the tax benefits, the assets must also conform to the fund’s investment strategy and comply with regulatory requirements for investment restrictions. It is always advisable that you consult your financial advisor or accountant for more information.
Types of Assets included in an SMSF
An SMSF gives you a certain amount of autonomy regarding investable asset classes. SMSF allows individuals more independence over asset choice and insurance; it can also include collectable assets such as art, wine, or antiques, and cryptocurrencies and other assets like gold, diamonds, and collectables such as wine and art. All these inclusion of assets gives trustees the flexibility than would be available through a retail super fund.
The legality of Cryptocurrency SMSFs in Australia
SMSFs are completely legal in Australia. The ATOs consider SMSFs as capital gains tax (CGT) assets. The trustee must keep a full record whenever you buy, sell or trade cryptocurrency so that it can be reviewed and taxed accordingly. You must record every trade you make and ensure that the transaction follows the deeds and the current tax laws governing Australia.
Associated Regulations
To fund to get all the tax and other benefits the fund must be compliant to the Superannuation Industry (Supervision) Act by the ATO. You also must ensure that all the trustees are fully aware of all the governing laws of the trustees. Fund trustees are also required to maintain compliance since all fund trustees are responsible for ensuring compliance themselves to ensure that they follow every rule.
Wrapping UP
There are many benefits of using the SMSFs, you can consider it a great investment option, but you must make sure that you follow all the rules and regulations put forward by the ATO to make the most out of that.
Book in a free consultation and chat with one of our SMSF experts. Contact us here https://www.newventurewealth.com.au/
Disclaimer- This content should not be considered financial advice and is for educational or informational purposes only.
