SMSF Cryptocurrency

Don’t pay New Brighton Capital $1800 OR MORE per year to enable you to invest your superannuation in cryptocurrency!

Cryptocurrency SMSF

A self-managed super fund solution that allows
your to invest your super in cryptocurrency.

Invest your super in crypto and we will take care of the rest.

Cryptocurrency SMSF

A self-managed super fund solution that enables you to invest your super in crypto.
Invest your super in crypto and we will take care of the rest.
SMSF crypto exchanges
Choose from our vetted list of Australian-based crypto exchanges.
Professional support
Access professional support from qualified Chartered Accountants and SMSF Specialists.
Cost effective fees
Cheapest SMSF fees from $110/m puts cryptocurrency investment within reach.

Grow your super with our
cryptocurrency SMSF solution

New SMSF setup
If you’ve made the decision that an SMSF is right for you, we can help you get set up the right way.
Easy SMSF transfer
We can transfer an existing SMSF from your current accountant or provider to our cryptocurrency solution at no cost.
We handle the paperwork
We handle all the SMSF paperwork including tax returns, accounts, audit, trustee minutes and cost-base tracking.

Cryptocurrency SMSF
fixed fee annual SMSF accounting packages

$110/m
Base
Entry level value
  • $1320 annual cost*
  • Crypto portfolio & bank account
  • ASX & US shares & ETFs included! (+$0 p.a.)
  • External wallets (+$180 p.a. each)
  • Super accumulation accounts (no pensions)
  • Annual SMSF accounts & tax return
  • Includes independent audit
  • Dedicated account manager
  • Phone & email support
  • Paperless online & e-signatures
$135/m
Flexi
Greater choice
  • $1,620 annual cost*
  • Crypto portfolio
  • Access to 200+ banks, broker & wrap accounts
  • Super accumulation accounts
  • Pension accounts accepted (+$30/m)
  • Annual SMSF accounts & tax return
  • Includes independent audit
  • Priority lodgement (July-November)
  • Dedicated account manager
  • Phone & email support
  • Paperless online & e-signatures
$POA
Bespoke
Customised solution
  • Crypto portfolios
  • All banks, brokers & wrap accounts
  • Property investment supported
  • Precious metals supported
  • All other asset types supported
  • Super accumulation accounts
  • Pension accounts supported
  • Annual SMSF accounts & tax return
  • Includes independent audit
  • Dedicated account manager
  • Phone & email support
  • Paperless online & e-signatures

*Annual cost for the SMSF administration service including audit conducted by an independent third-party auditor.

Does not include the ATO self-managed super fund supervisory levy ($259) or ASIC annual review fee for trustee companies ($56 where applicable).

How our cryptocurrency solution works

SMSF crypto exchanges
We support popular Australian based crypto exchanges that provide investors maximum security.
Holdings connected to SMSF
Crypto wallets and exchange accounts must be in the name of your SMSF to comply with strict rules.
Run your SMSF online
Our solution is 100% digital. No paperwork or tedious admin required. We take care of all the annual compliance and tax lodgements and organise the independent audit.
Tax reporting
We takes care of the all tax reporting and cost-base tracking of your investment portfolio (incl. crypto, ASX and US investments).
Diversification essential
You are required to consider diversification as part of your SMSF investment strategy. Our solution enables you to combine crypto with other investment types to meet this requirement.
HODL
Our solution best suits people who want to buy and hold crypto as part of their SMSF portfolio.

Frequently Asked Questions

What SMSF crypto exchanges are supported?

It’s important to understand that for an SMSF to invest in cryptocurrency, the wallet address associated with the holdings must be in the name of the SMSF.

Non-Australian crypto exchanges such as Binance, Coinbase, Kraken etc DO NOT SUPPORT SMSF ACCOUNTS which makes it impossible to register an SMSF account with these exchanges and still meet the strict compliance rules self-managed super fund must comply with.

Therefore, Grow supports the following popular Australian-based exchanges that support SMSF accounts and have adequate reporting that will satisfy our independent auditors and the ATO:

This list may expand overtime. If you have an enquiry about a different crypto exchange, please contact us.

Please note some links may include affiliate codes that pay a small commission to Grow SMSF or a related party.

How is Grow SMSF different to cheap online providers like esuperfund?

There are a number of differences if you were to compare Grow SMSF to many of the low cost online only service providers available.  We recommend anyone comparing SMSF service providers look at the following as part of their research:

  1. Service: We provide personalised phone and email support.  You are not forced to make all communication via an online portal. Our phone number (1300 651 263) is readily available during business hours (AEST). Check to see whether other providers have a phone number you can call to speak to a human.
  2. Transparency: Grow receives revenue from the fees you pay. Where we receive referral commissions from account providers we will disclose it – but we do not use the revenue to to subsidise our business model. Some other SMSF service providers receive commissions which increase the ongoing costs of using their preferred suppliers.  Check the Product Disclosure Statement (PDS) of those providers to see how much they receive in commissions.
  3. Work Required from you: Some providers are not ‘full service’ SMSF administration providers – they could better be described as an online accounting system with an SMSF audit and lodgement function attached.  Grow SMSF does not require you to categorise or code any of your SMSF transactions yourself.

The above is not a comprehensive list. Take a look at our blog to find more specific information on comparing Grow SMSF to other service providers.

I already have a crypto exchange account in my name. Do I need a DIFFERENT account for my SMSF?

Yes.

One of the most fundamental principles of a self-managed super fund is separation of assets. A separate cryptocurrency exchange account is needed in the name of the SMSF.

Separation of assets means that assets, accounts and investments of an SMSF must be in the name of the trustee of the fund on behalf of the SMSF and cannot be mixed or intertwined with assets and investments of the members / trustees of the fund. If a trustee fails to keep assets of an SMSF separate the breach of the regulations must be reported to the ATO by the independent auditor of the fund.  The trustee(s) could be personally fined or in extreme cases the ATO may deem the fund non-complying.

Can my SMSF only invest in cryptocurrency, or do I need to be diversified?

The following is direct form the ATO who regulate SMSFs and enforce the rules when it comes to diversification:

“While a trustee can choose to invest all their retirement savings in one asset or asset class, certain risks such as return, volatility and liquidity risks can be minimised if a trustee chooses to invest in a variety of assets. This is called a diversified portfolio which helps to spread investment risk.”

Regardless of what you think about cryptocurrency as an investment, it is a very new and emerging asset class that has high level of volatility.

With Grow, we support not just crypto investments, but also ASX shares and ETFs as well as US stocks and ETFs.  This enables SMSF trustees to put together a well-diversified investment portfolio and ensure they meet the diversification requirements.

Can an SMSF be invested 100% in cryptocurrency assets? No one can stop an SMSF trustee from investing a large portion of the funds portfolio into crypto, however the onus is on them to validate why the lack of diversification (and the high level of risk) is appropriate for their fund.

How much does it cost to set up an SMSF?

The set up fees for a new SMSF are as follows:

  • $495 with individual trustees;
  • $990 with a company trustee

Grow SMSF intentionally DOES NOT offer ‘FREE’ SMSF establishment to ensure we provide you with the best possible upfront support and service you deserve.

Does Grow SMSF track transactions for CGT reporting? Or do I need to use a third-party tool?

There is no need to use any 3rd-party tools to separately track your SMSF portfolio or crypto investments held by your SMSF. Incorporated into our SMSF solution is detailed investment and capital gains tax (CGT) reporting.

You just need to download the relevant reports at the end of each financial year and provide them to us.

Does Grow SMSF provide financial advice?

No.

Grow SMSF does not hold an Australian Financial Services Licence (AFSL) or is not an authorised representative of an AFSL holder.

The advice and support we provide to our clients is limited to either taxation or the compliance of your self-managed super fund under the relevant laws and regulations.

Grow SMSF is not a financial adviser. We do not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of investments or superannuation interests.

Any information contained within this website is provided as an information service only and, therefore, does not constitute, and should not be relied upon as, financial product advice. None of the information provided takes into account your personal objectives, financial situation or needs, and you will need to make your own decision about how to proceed.

Alternatively, for financial product advice that takes account of your particular objectives, financial situation or needs, you should consider seeking financial advice from an Australian Financial Services licensee before making a financial decision.

Where can I learn more about SMSF cryptocurrency investment?

Great question.  There is a lot to learn before setting up an SMSF to invest in cryptocurrency.

We recommend reading the following article: Cryptocurrency SMSF investments and Bitcoin

More information?

Simply drop your email in below and click submit and we will send you further information regarding our cryptocurrency SMSF solution.

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    Contact

    Suite 247 / 10 Albert Avenue

    BROADBEACH QLD 4218

    1300 651 263

    07 5665 9979

    contact@growsmsf.com.au

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    Copyright © 2020 by Grow SMSF Pty Ltd. All rights reserved.

    General Information Warning & Disclaimer

    All information contained on this website is provided as an information service only and, therefore, does not constitute, and should not be relied upon as, financial product advice. None of the information provided takes into account your personal objectives, financial situation or needs, and you will need to make your own decision about how to proceed. Alternatively, for financial product advice that takes account of your particular objectives, financial situation or needs, you should consider seeking financial advice from an Australian Financial Services licensee before making a financial decision.

    Grow SMSF does not hold an Australian Financial Services Licence (AFSL) and we are not authorised representatives of a AFSL. We do not provide financial product advice or recommend any financial products either expressly or implied.

    From time to time Grow SMSF may produce information or content about specific financial products or services that enable access to specific financial products however we do not recommend, endorse or confirm as suitable any financial product or service featured on the Grow SMSF website or social media assets. This condition specifically applies to any financial product where Grow SMSF provides services at a discounted or preferential fee due to the use of those products, services or accounts. It’s not compulsory to utilise a specific account or service provider to be a client of Grow SMSF however the types of accounts, investments and service providers you use for your SMSF will determine the fees your SMSF is charged.

    Where Grow SMSF provides information in relation to a financial product or service supported by or integrated with Grow SMSF the information is factual information only about the operation of the account or service and how data or reporting information is made available to us. Before making a decision on any financial product for your SMSF you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision. As financial product and solution providers are frequently making changes to their products and services Grow SMSF cannot accept any responsibility for any outdated or inaccurate information provided on this website or via social media assets.

    Grow SMSF Gold Coast based accountants looking after SMSF trustees from around Australia.

    Liability limited by a Scheme approved under Professional Standards Legislation.