Cryptocurrency Investment in SMSF (Coursework Sample)
Write about taxing crypto currencies.
source..Taxing crypto currencies wrk
Taxing crypto currencies: Cryptocurrency investment in SMSF
The recent dramatic rise in value of bitcoin and other cryptocurrencies has made a lot of SMSF trustees to seriously consider its potential as an investment. In other words, Crypto-assets have been included in their Self-Managed Super Fund (SMSF) investment portfolio especially where there is low-interest rates marketplace, an easing in property and erratic share markets.
Debate about the regulatory legislation of Cryptocurrency is still going on since the area is still in its infancy stage. Therefore, when transacting in cryptocurrencies, SMSF Trustees need to be aware of the tax consequences and be extremely careful not to breach the Superannuation Supervision (SIS) Act.
Things that a trustee needs to consider when settling on crypto
Does the smsf deed permit cryptocurrency investment?
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