Australian super funds gorge on cryptocurrency

HomeInsights


Australian Super Funds Gorge On Cryptocurrency.

The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics.

While cryptocurrency is a relatively small asset class at only 0.16% of the $837bn held in SMSFs, it is a growing asset class, larger than collectibles and personal use assets, and overseas property.

Smaller funds, with an asset value below $200,000, are more likely to have a larger proportion of their value in cryptocurrency.



GET IN TOUCH GET IN TOUCH

Related News

29 Nov

Unraveling Payroll Tax: Common Blunders and Grouping Dilemmas for Small Business Owners

We'll dive into some of the everyday mistakes and tricky grouping issues that small businesses often encounter when dealing with payroll tax.


READ MORE READ MORE
24 Nov

Effective strategies for managing cash flow in trades businesses

Maintaining control over cash flow is undeniably a complex balancing act. It's a challenge that lacks a quick and universal solution.


READ MORE READ MORE
24 Nov

10 reasons why it’s time to change accountant

This article aims to shed light on red-flag indicators that may suggest it's time to consider changing accountants, providing insights into the reasons behind such a decision.


READ MORE READ MORE