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Can you stake your Crypto in a SMSF?

Newbie

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Former Community Support

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Hi @JSB

 

Please have a read of our information on SMSF investing in cryptocurrencies.

 

All the best!

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Most helpful response

Former Community Support

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Hi @JSB

 

Please have a read of our information on SMSF investing in cryptocurrencies.

 

All the best!

Enthusiast Registered Tax Practitioner

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Yes, its possible for an SMSF to purchase cryptocurrency.

 

Key factors to be aware of:

  • The Trust deed of the SMSF specifically has to allow cryptocurrency assets;
  • It must form part of a documented Investment Strategy for the SMSF;
  • The SMSF must be able to prove the ownership and existence of the crypto for the independent audit of the fund - i.e. account MUST be in the name of the SMSF - some exchanges don't enable SMSF accounts to be registered (but more reputable Australian ones like CoinSpot, Independent Reserve etc do)
  • Consider how the crypto investments are to be administered and audited.  If you make it challenging for the accountant and auditor it will increase your fees.

The above only scractes the surface.  In addition to the excellent information on the ATO site here, there are also some common questions answered in this article.

 

Hope this assists.