{"id":2538,"date":"2023-11-19T22:46:02","date_gmt":"2023-11-19T12:46:02","guid":{"rendered":"https:\/\/wiselinkaccountants.com.au\/?p=2538"},"modified":"2024-05-14T13:58:29","modified_gmt":"2024-05-14T03:58:29","slug":"tax-agent-melbourne","status":"publish","type":"post","link":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/tax-agent-melbourne\/","title":{"rendered":"Losses in crypto investments for SMSFs"},"content":{"rendered":"
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\"tax<\/a><\/figure>\n<\/div>\n\n\n

Over the last few income years, the ATO has seen some instances of SMSF trustees losing their crypto asset investments.<\/p>\n\n\n\n

These losses have been caused by:<\/p>\n\n\n\n

1.    crypto scams, where trustees were conned into investing their superannuation benefits in a fake crypto exchange;<\/p>\n\n\n\n

2.   theft, where fraudsters would hack into trustees’ crypto accounts and steal all their crypto;<\/p>\n\n\n\n

3.    collapsed crypto trading platforms, many of which were based overseas; and<\/p>\n\n\n\n

4.    lost passwords, resulting in trustees being locked out of their crypto account and being unable to access their crypto.<\/p>\n\n\n\n

Trustees thinking of investing in crypto need to be aware of the ways that crypto can be lost, including through scams, and how these scams can be avoided.<\/p>\n\n\n\n

Many crypto assets are not commonly considered to be financial products, which means the platform where crypto is bought and sold may not be regulated by ASIC. <\/p>\n\n\n\n

Therefore, trustees may not be protected if the platform fails or is hacked.  When a crypto platform fails they will most likely lose all of their crypto.<\/p>\n\n\n\n

Investing in crypto can be complex and risky, and so the ATO recommends that trustees seek financial advice before investing.<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

tax agent melbourne<\/h2>\n","protected":false},"excerpt":{"rendered":"

Over the last few income years, the ATO has seen some instances of SMSF trustees losing their crypto asset investments. […]<\/p>\n","protected":false},"author":3,"featured_media":2539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,17,98,61,18,19,20,97,1,21],"tags":[66,63,89,85,84,102,83,70,62,73,64,93,90,88],"class_list":["post-2538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-topics","category-business-solutions","category-digital-game","category-english-post","category-business","category-market-research","category-professional-planning","category-registreration","category-uncategorised","category-world-of-business","tag-accountants","tag-ato","tag-australian-tax-office","tag-business-gst","tag-business-tax","tag-crypto-investment","tag-reimbursements","tag-small-business","tag-smsf","tag-superannuation","tag-tax","tag-tax-accountant","tag-taxable-payments","tag-taxpayer"],"_links":{"self":[{"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/posts\/2538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/comments?post=2538"}],"version-history":[{"count":2,"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/posts\/2538\/revisions"}],"predecessor-version":[{"id":2613,"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/posts\/2538\/revisions\/2613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/media\/2539"}],"wp:attachment":[{"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/media?parent=2538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/categories?post=2538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wiselinkaccountants.com.au\/zh-hans\/wp-json\/wp\/v2\/tags?post=2538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}