Key ATO Updates Every SMSF Professional Should Know – June 2025
The Australian Taxation Office (ATO) has released several important updates for SMSF professionals this month. From audit guidance and quarterly statistics to crypto investment tips, these updates aim to help trustees and auditors stay informed, compliant, and protected. Here’s a quick look at what’s new.
1. Get your key SMSF audit guidance in one handy place
The ATO has made it easier to access the information you need as an approved SMSF auditor.
Key guidance for SMSF auditors is now available in one convenient location: the refreshed Auditing an SMSF webpage in the Tax and Super Professional section of ato.gov.au.
This page provides most of the guidance you need for understanding your auditor obligations, including the requirements for conducting the annual SMSF audit.
Here you’ll find all the information and guidance you need on key topics including:
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verifying asset values
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financial and compliance audits
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auditor independence
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reporting contraventions
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dealing with rollovers and downsizer contributions
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auditing an SMSF that’s winding up.
The ATO has also made the layout easier to scan, so you can find the right guidance fast.
Whether you’re a seasoned auditor or reviewing a fund for the first time, this page helps you stay on track.
2. Highlights: SMSF quarterly statistical report March 2025
The ATO’s March 2025 quarterly statistical report on the Self-Managed Super Fund (SMSF) sector is now live. Visit the Self-Managed Super Fund statistics page on ato.gov.au to access the report and explore the latest insights.
Highlights include:
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There are 646,168 SMSFs.
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There are 1,197,293 members of SMSFs.
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The total estimated assets of SMSFs are $1.01 trillion.
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The top asset types held by SMSFs (by value) are:
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listed shares (26% of total estimated SMSF assets)
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cash and term deposits (16%).
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53% of SMSF members are male and 47% are female.
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85% of SMSF members are 45 years or older.
Read the full report for further statistics about:
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SMSF fund and member demographics
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estimates on SMSF asset holdings
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annual ‘flows’ in and out of SMSFs.
3. Navigating SMSF crypto assets
With a growing number of Self-Managed Super Funds (SMSFs) investing in crypto assets, it’s important to be aware of the potential risks. The ATO has seen instances of SMSF trustees losing their crypto investments due to theft, lost passwords, and impersonation schemes.
Here are some essential tips to help you navigate crypto investments for your SMSF:
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Name your wallet correctly: Make sure your SMSF’s crypto wallet is registered in the name of your SMSF.
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Separate investments: Keep your personal crypto investments separate from your SMSF’s assets. Failing to do this can be a breach of the Superannuation Industry (Supervision) Act 1993.
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Use legitimate platforms: Always purchase and trade on reputable, well-established platforms. Check that they are a registered business or licensed by a relevant authority, look for independent reviews and user feedback, ensure the site uses secure HTTPS connections, understand their policies (e.g. refunds, dispute resolution).
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Maintain good records: Record all transactions, including purchases, sales, and transfers of crypto assets. 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.
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Protect your wallet password: Never share your wallet password with anyone. Store it securely to prevent unauthorised access to your crypto assets.
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Avoid related party transactions: When transacting in crypto assets with related parties, all transactions must be done at arm’s length.
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Valuation records: Make sure you have proper market valuation records for your auditor.
The ATO also advises caution regarding impersonators posing as ATO representatives, claiming you are involved in crypto tax evasion and asking for wallet details. If you have concerns or suspect a scheme, visit SMSF schemes for more information.
You can check out Loss or theft of crypto assets to better understand the evidence you’ll need to claim a capital loss if your crypto is lost or stolen. It’s also a good idea to visit the ASIC website for information on how to spot crypto scams and what to do if you are scammed. You can also visit ScamWatch for tips on recognising and reporting scams.
Need help navigating these updates?
Staying on top of ATO updates is key to effective SMSF management. Whether you’re navigating audits, tracking fund performance, or exploring digital assets, these resources offer practical guidance to help you remain compliant and confident in your role.
Have questions or need support? Reach out to our team—we’re here to help you stay compliant and prepared.
Source: Australian Taxation Office
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