In 2014, the Australian Taxation Office (ATO) issued two taxation determinations clarifying that Bitcoin and cryptocurrencies like Bitcoin are not money but are capital gains tax (CGT) assets. This new development now legally allows for Self Managed Super Funds (SMSF) to invest and transact in cryptocurrencies.
NGSCrypto is the sole Australian crypto mining company that is superannuation and retirement savings approved, following strict laws and regulations set by the ATO and the Australian Securities and Investment Commission (ASIC).
NGSCrypto has worked closely with industry leaders and appropriate governing bodies throughout 2018 to become fully complied under ASIC and the ATO, successfully securing a positive key affiliate relationship with one of Australia’s biggest and most successful financial wealth analyst companies, who currently have over $1.5 billion under management. Through this partnership Australians now have the financial opportunity to explore and take full advantage of NextGen Systems unique investment model.
DID YOU KNOW?
What did your superannuation achieve for you last year?
Currently most superannuation funds are only achieving a 5-7 per cent return, with some funds even experiencing zero or negative returns.
Are you on track with your super?