Riding the crypto wave

  • Presentations, Technical Resource
  • Investment standards

Technical Summit 2022

SMSFs are not immune to the appeal of cryptocurrency as an investment opportunity, and ATO statistics to December 31 show this asset comprised $227m of SMSF assets. However, before being swept away in the excitement of crypto and the promising waves of high returns, it is important to also understand the risks.
 
This session will cover:
 
• The basics of blockchain, cryptocurrency and digital assets
• Cryptocurrency and digital assets – what can be held in an SMSF?
• The sole purpose test – Non Fungible Tokens and crypto wallets and other considerations
• The current state of play – relevant statutory and regulatory considerations
• Taxation of cryptocurrency and digital assets
• Jurisdiction of cryptocurrency trading platforms and international tax risk
• Substantiation and SMSF audit considerations

Riding the crypto wave

Technical Paper
Download the Technical Paper

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association