Cryptocurrency, such as bitcoin, is an allowable SMSF asset by iCare Super.
When you trade any crypto assets, please follow the steps as below:
We recommend reading the following ATO guidelines before you starting investing in cryptocurrencies.
Trustees should meet the guidelines in the above link and detail in minutes how they meet the guidelines.
Trustees should only use exchanges and products which will allow them to meet the guidelines set.
Trustees also need to detail in their investment strategy how they intend to manage associated risks.
If you are not familiar with cryptocurrencies, you should read the investment warnings on ASIC website to understand what they are and the risks involved.
You can click the link as below:
Trustees are reminded that breaches may lead to the ATO deeming an SMSF non compliant which may enable them to tax the super fund 49% of its asset holding and deny the 15% concessional tax.