In Australia right now, the only way to buy crypto currencies with your superannuation is through a self managed superannuation fund (SMSF). New Brighton Capital offers an end to end service from setting up a regulated SMSF all the way to video instructions on opening your dedicated SMSF account at your preferred crypto exchange . You can still be invested in the traditional stock market and also hold other assets like gold, silver, art or real estate.
No. If you like your fund and its performance / benefits you can just withdraw a portion of the funds to allocate to crypto through a SMSF.
Not necessarily. All costs are paid by your super (upfront fees are paid back to you when you receive your rollover). Also, through economies of scale and our network we can set up a fully compliant and regulated SMSF from $1600 upfront and can perform all required compliance, audit and tax returns on your SMSF for $140 a month. You can also have up to 4 members in the one SMSF so sharing the costs makes it even cheaper. Check out our pricing schedule here. Those thinking about starting an SMSF should come to their own decision in deciding if the costs to set up run an SMSF make sense for their situation and objectives. You should understand that you currently pay fees in retail superannuation funds.
No. New Brighton Capital has no control over your funds. You are not tied to us in any way. After establishment fees are paid from your super there are no lock in contracts.
While we can establish your SMSF within 24 hours, it can take some time to get ATO approval, open a bank account and receive your rollover. On average, you can expect to have funds in your SMSF bank account ready to invest within 2 weeks. However, hold ups can occur. See here for more information on the ATO delays.
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More money is held in SMSFs than any other form of superannuation in Australia. The reasons are simple.
Cost - The costs to run a SMSF are fixed where as retail funds charge you more the more money you have with them. Also you can have up to 4 members and split the fees making it even cheaper to run.
Choice - You can own investments like precious metals, art, property, crypto and many other investments that a retail super fund cannot buy for you.
Control - If you own physical precious metals or the private keys to your crypto no government can use legislation to take it away from you (like what has happened in Greece, Cyprus, Argentina, Venezuela, Russia and many African countries.) Legislation was passed in Australia in 2010 that allows the government to take your assets in the event of another financial crisis. This is not good. Protect yourself and own assets in your super that no one can access but you.
A self managed super fund is similar to your normal retail super fund, however, you are the fund manager and the member of the fund. New Brighton Capital looks after the tax reporting and compliance side of things and you are free to focus on building your portfolio.
Yes, you can transfer your coins from the exchange to store on a hardware wallet that only you control. You just have to make sure that the device has not been used before and is only ever used for the SMSF funds. The hardware wallet can also be paid for by the SMSF. At tax time simply share the public address with us so we can confirm the holdings by looking it up on the blockchain.
In a SMSF, the trustees are the people (or company) who controls the money in the fund on behalf of the members.
In an SMSF the members are the people whose money is being managed. You can have up to 4 people as members in a self managed super fund.
A corporate trustee is the company that is responsible for your SMSF. All our SMSFs have corporate trustee set ups. All members of the fund are also directors of the company.
There are many benefits of having a corporate trustee and some of these benefits include:
Each SMSF has directors who control the company.
Each director is also a member of the fund.
The company is entrusted to make the investment decisions for the benefit of the members of the SMSF.
The SMSF is the entity that holds all the assets and the accounts relating to the members' investments.