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If your self-managed superannuation fund (SMSF) invests in cryptocurrency, it’s important to make sure everything stacks up come audit time.
The Australian Taxation Office (ATO) requires auditors to confirm that any crypto assets your SMSF holds comply with superannuation laws.
That means the investment must be allowed under your fund’s trust deed, align with your investment strategy and be clearly owned by the fund – not by you personally.
The crypto should also be stored in a digital wallet registered in the fund’s name and reported at its market value as at 30 June each year.
If you and your auditor can’t verify that the crypto exists or belongs to the fund, it could trigger compliance issues and penalties. It’s a good idea to keep detailed records and work with an accountant familiar with SMSFs and digital assets.
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