If your SMSF's hardware wallet was bought and set up in your own name, expect questions from your auditor. Two replies on my post last week added the rules I'd want every trustee to know: @ABHanssen: buy the hardware wallet and set it up in the fund's name, not yours. @KJ_Dillon: record every transaction, and your decisions in the trustee minutes. It keeps the auditor on side. Both line up with the ATO. Its guidance for auditors says the fund's crypto should sit in a wallet in the fund's name, separate from anything the trustees hold personally. And trustee minutes have to be kept for 10 years. General information, not advice. Check your setup with your SMSF accountant.
Jake PahorShare
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