Bitcoin Crypto and Australia Superannuation including Cryptocurrency SMSF

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http://youtube.com/watch?v=jOhzC-aQv9g

From Our Website: https://www.munros.com.au/solutions-f... • Key Points: • Self-Managed Super Funds (SMSF) can offer tax-free super earnings in retirement phase, dependent on super laws at the time of withdrawal, with conditions such as having less than $1.6 million supporting the retirement stream, allowing potentially massive tax-free growth, e.g., in cryptocurrency investments. • A major disadvantage of SMSF is the restricted access to super funds until reaching retirement age, posing a disincentive for those wishing to use their investments prior to retirement. • Contributing to superannuation can significantly reduce personal taxable income through tax deductions, with contributions taxed at a lower rate within the super, providing a tax saving compared to individual tax rates. • There are caps on the amount that can be contributed to super, including considerations for employer contributions and the potential for catch-up contributions if previous years’ caps were not fully utilised, alongside unique strategies like “Reserving Strategy” for further tax savings. • SMSFs are highly regulated, with audits required, suggesting a minimum of $200,000 in super to be cost-effective. Professional advice is recommended for setting up or considering SMSFs, with Munro’s offering support in this process. • -IMPORTANT NOTE: To be eligible to make catch-up contributions, your total superannuation balance at the prior 30 June must be below $500,000. (Last updated: 20/05/2021) • Presented by: Drew Pflaum (https://www.munros.com.au/our-team/dr...) • Disclaimer: Please be aware that this video was recorded in 2021 and changes to the tax system since then mean that some of the information may be out-of-date. The information presented is general in nature and is not tax or financial advice. You may need to seek professional advice applicable to your circumstances from an appropriately licenced professional.

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