Want to make your future after retirement bright? Then get Crypto super fund into your pension pot and reap the tax benefit. You may think that we are joking; we are not. You can make many fold benefits through Self-Managed Super Fund by following all the ATO rules around managing SMSFs.
What is a crypto SMSF?
Self-Managed Super Fund (SMSF) is a way by which Australians can include a variety of cryptocurrencies in their retirement portfolio. The big difference between an SMSF and other superannuation funds is that the members are the trustees. They are solely responsible for choosing the investments and complying with the various ATO laws. The next big question is why you would select the SMSF over other funds. The answer lies below. Please read SMSFs benefits:
Control Over Investment Decisions
The most obvious benefit of choosing your self-managed super fund is that you (and your trustees) have full control and can decide where to invest. Most existing super funds do not have options for you to invest in crypto, but the SMSF has. When you run a crypto self-managed super fund, you can choose which coins you want to invest in and in what quantity.
Reduced Taxes
We are overburdened with the taxes, everywhere we must pay taxes, but with the crypto self-managed super fund, you must pay around 15%. If you realise crypto gains in your account, you might have to pay as high as 32-37% tax and as high as 45% if you are a high-income earner. The 15% is half the amount of tax that you must pay, and that will save you a lot of money in the long run.
Pay Lower Fees than Super Fund
Many people assume that the running cost of an SMSF is too high, and compliance is quite tough to get with. The price has been drastically reduced due to the competition between service providers. One thing to note here is that you need to have a large super balance because your fees are fixed and not charged as a percentage of your total balance. If you have a lower super balance, you might end up paying huge fees.
Control Over Your Funds
The other big benefit of having a trustee is having bigger control over your funds. The trustee can decide where they want to invest their money, which is impossible with a regular super fund. If the crypto market changes, you can instantly switch to a better-performing currency and make a profit.
Protection from creditors
Another big benefit when investing in an SMSF is getting protection from creditors if you owe money to a bank or other financial institution. The cryptocurrency you have in your SMSF cannot be taken from you. Under many conditions, creditors cannot touch your super. You can also sell your crypto to pay your debt in special situations.
Book in a free consultation and chat with one of our SMSF experts? Contact us here (https://www.newventurewealth.com.au/)
Disclaimer- This content should not be considered financial advice and is for educational or informational purposes only.