Bitcoin tax treatment

Crypto or digital currencies transactions in a SMSF are subject to capital gain and income tax.

1.  If trustees sell bitcoins or other digital currencies, the capital gain tax will be 10% if the fund is accumulation phase.
2. If a member sells bitcoins or other digital currencies, the captial gain tax will be exempt if his/her account in pension phase and his/her member balance is less than $1.6 million dollars.

ATO has detailed information on how to treat crypto-currencies transactions for tax purpose, please click here.

For any technical support in regards to the tax treatment of crypto-currencies, in particular bitcoin, please contact us on 03 9557 3138 or email: info@icaresuper.com.au