Want to Invest in Cryptocurrency through your SMSF?

Key considerations before investing in Digital currency/cryptocurrency

Check your trust deed allows investment in digital currency (Cryptocurrency).
Ensure the cryptocurrency is purchased in the name of the SMSF and not the name of the member – correct allocation in the wallet/storage system.
Complete a review of your SMSF’s investment strategy to reflect the change of asset classes held by the fund.
An increased importance on Record keeping. This includes all transactions including acquisition and disposal. Additionally, a market value at the end of every year is required, which may be accessible via your wallet/storage system
SMSF must not acquire cryptocurrency from members or related parties.

Should you require further information regarding this, please do not hesitate in contacting our office:

(08) 8431 1644

hl@hensonandco.com.au

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