Australians warned over crypto-heavy self managed pensions

Australians warned over crypto-heavy self managed pensions

The Australian Tax office has sent out 18,000 warning letters to Self Managed Super Funds (SMSFs). The letters target those who have invested over 90 per cent of retirement funds in a single asset class, such as property or cryptocurrency. Reports suggest that over 40 per cent of the SMSFs have 90 per cent or more of the fund’s value concentrated in a single asset class.

Simone
Simone
Barra Cudda
Barra Cudda 7 months

Well maybe if you stopped taxing it over and over again, people might leave their money in their super. The whole theory of super was that the government would leave it alone so that in the future they wouldnt need to shell out pensions. Now its just another tax cow. Stupid peasants, youre not allowed to have money.

Buck Nasty (ADirtyGypo)
Buck Nasty (ADirtyGypo) 7 months

The ATO are scarred they'll lose middle income earners precious tax dollars which make up the bulk of taxation. I've invested in crypto and haven't looked back. Fuck the ATO. Australia is on par with the highest taxed nations on Earth and they only keep doing it because we're all a bunch of pussies cause we allow it to happen.

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