Easy Super Summary: SMSF Specialist

SMSF and Crypto

Aussies can legally include cryptocurrency in their SMSF, but there are strict rules and regulations that make crypto activities more restricted than investing in one’s own name. Digital asset holdings in Australian self-managed super funds have increased by 400% since 2019. At their peak, well over $1 billion worth of crypto assets were held in SMSFs. 

SMSFs are already a regulatory minefield. But tack on cryptocurrency – a new market with a constantly evolving set of rules. SMSF compliance is becoming more challenging, and auditor’s contraventions reported to ATO are on the rise as well. Easy Super provides services to assist SMSF trustees in navigating tax and superannuation laws, which is crucial for compliance and avoiding ATO penalties associated with inadvertent errors in tax reporting and not knowing the superannuation rules. The team can also guide crypto investors on how to set up an SMSF exchange account and ensure that the crypto account complies with superannuation laws.

What Services Does Easy Super Offer?

SMSF Establishment

One of the biggest barriers to setting up an SMSF is precisely that – getting it set up. The process is regulated, and financial advice is required to set up SMSF. Easy Super can walk you through this journey, starting with a simple phone call and guiding you through the SMSF establishment, educating you on what you can and can not do in SMSF. We make sure we don’t only set your SMSF for you but also make sure you understand how to manage your SMSF. 

 

SMSF Administration, Tax and Compliance

Keeping your SMSF compliant is a big deal—a breach of superannuation legislation can result in hefty ATO penalties. Easy Super offers 20 years of SMSF-specific experience to help you navigate all the requirements to keep your retirement fund afloat. The team can guide you on the taxation of crypto assets, including capital gains, airdrops, staking rewards, allowable deductions and expenses, while assisting with preparing annual financial statements and dealing with SMSF auditor.  

SMSF Audit and Technical Support

SMSF must be audited by an independent auditor every year. Easy Super offers SMSF audit service with an average turnaround time of two to five business days. If you already have an accountant and looking for an SMSF auditor who understands crypto transactions, Easy Super will be your perfect match.  

With nearly two decades of industry experience, the Easy Super team offers support in addressing tax and technical questions related to SMSFs. If you have any specific technical questions about SMSF compliance, tax regulations or auditing, Easy Super is available via phone call during Australian business hours. Additionally, support can be reached 24/7 by email.

SMSF Advice

SMSFs offer individuals more control over their retirement savings and investment decisions. However, they also come with a range of legal and financial responsibilities. Seeking SMSF advice is crucial to ensure compliance with regulations, maximise investment returns, and minimise risks. SMSF advice is required for the following: fund establishment, advice on contributions, rollovers and pension establishment, as well as investment strategy and retirement planning. By seeking SMSF advice, you can make informed decisions and navigate the complexities of managing your superannuation fund and your retirement savings for a secure financial future.

Presented by SMSF