The ATO states that, SMSFs that use bitcoin as an investment may be subject to capital gains tax rules when they dispose of it, as they would for shares of similar assets.
Record-keeping requirements are similar to other transactions. SMSFs should keep records of:
- the date of the transaction
- the amount in Australian dollars
- what the transaction was for; and
- who the other party was (even if it is just the bitcoin address).
Bitcoin investments should be carefully considered in the Investment strategy including volatility and security of access codes.