The ATO has called on SMSF trustees to be mindful of the potential risks in relation to crypto-assets and to be careful when investing in this asset class in their funds.
“We’ve seen instances of SMSF trustees losing their crypto-investments due to theft, lost passwords and impersonation schemes,” the regulator said in an update on its website.
According to the latest sector statistics for the March quarter 2025, SMSFs had a total of $1.675 billion in crypto-assets, down on the $1.683 billion in the previous quarter, representing less than 1 per cent of all assets in the self-managed super sector.
The ATO issued some guidelines for SMSFs wishing to invest in crypto, many of which apply to any asset class, such as keeping personal crypto-assets separate from SMSF assets as the failure to do so would be a breach of the Superannuation Industry (Supervision) Act, and retaining good records of all transactions.
The regulator reminded trustees that crypto-wallets need to be in the name of the SMSF, wallet passwords need to be well protected and funds need to avoid related-party transactions in crypto.
It also cautioned SMSFs about purchasing and trading crypto on reputable, well-established platforms.
“Check that [platforms] are a registered business or licensed by a relevant authority, look for independent reviews and user feedback, ensure the site uses secure HTTPS connections and understand their policies (for example, refunds, dispute resolution),” it said.
Keeping transaction records was also flagged as important for crypto-assets as sales and transfers are classified as ‘disposals’ and may result in capital gains tax (CGT).
“Keeping good records is essential for calculating CGT. Also, keep information about your wallet and any changes made to it,” the ATO said.
In one scheme, the regulator is aware criminal operators posed as ATO representatives claiming SMSFs were involved in crypto tax evasion and asked for wallet details.
