In this episode of SMSF Insider, host Troy discusses the ins and outs of purchasing cryptocurrency using a Self-Managed Super Fund (SMSF). He explains that while you can invest in crypto, it must adhere to the sole purpose test under the Superannuation Act, ensuring that the SMSF is solely for providing retirement benefits. Key points include the tax treatment of crypto, which mirrors other asset classes, and the necessity of keeping SMSF assets separate from personal assets. Troy emphasizes the importance of setting up crypto accounts in the name of the SMSF rather than personal names and clarifies the borrowing limitations associated with SMSFs. Tune in for essential insights to navigate the complexities of investing in crypto through your SMSF.

Ready to finally take control of your take control of your retirement savings and stop leaving your future in someone else’s hands? Book your free call with our team today to find out more: https://www.bcsmsf.com.au/contact-us/

Follow us:

Instagram – https://www.instagram.com/bluechipsmsf/

Website – https://www.bcsmsf.com.au

Please note: The information provided in this recording is for coaching and educational purposes only. It should not be considered personal financial advice. Everyone’s situation is different, so before acting on any of the content discussed, please seek independent financial advice tailored to your specific circumstances.

Timestamps:

00:00:00 - 00:00:00: Introduction

00:01:03 - Purchasing crypto with SMSF

00:06:04 - Tax benefits of long-term holding

00:08:23 - Purchasing crypto with SMSF

00:11:48 - Crypto storage and compliance

00:18:04 - Crypto impact on retirement planning

00:21:00 - Crypto as growth booster