SMSF trustees are being warned to be on the lookout for crypto investment scams.
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The Australian Taxation Office (ATO) said it continues to see SMSFs suffering losses from crypto investment scams where trustees were conned into investing their superannuation benefits in a fake crypto exchange.
The regulator said losses are also being incurred through incidences of theft, where fraudsters hack into trustees’ crypto accounts to steal their crypto, as well as collapsed crypto trading platforms, many of which were based overseas.
Additionally, lost passwords are resulting in trustees being locked out of their crypto accounts and unable to access their crypto, and they are also being misled by scammers pretending to be from the ATO, telling people they are suspected of being involved in cryptocurrency tax evasion and then asking them to connect their wallet and provide detailed information via a link.
Trustees thinking of investing in crypto need to be aware of the ways crypto can be lost, including via scams and how they can avoid them.
The ATO recommends trustees visit the Australian Competition and Consumer Commission’s (ACCC) Scamwatch and the MoneySmart section on the Australian Securities and Investments Commission (ASIC) website for useful information on how to spot scams and what to do if they’ve been targeted.
Furthermore, the ATO has stated that many crypto assets are not considered to be financial products, which means the platform where they are bought and sold is usually not regulated and buyers may not be protected if the platform fails or is hacked.
Investing in crypto can be complex and risky, so the ATO recommends trustees seek financial advice before investing and read both MoneySmart and the SMSF investing in crypto assets page.
Additional information can be found at:
SMSFs investing in crypto, which reminds trustees of their regulatory obligations needed to meet when investing in crypto assets.
Lost access to my crypto, which provides details of how an SMSF may be able to claim a capital loss in situations where investors lose on their investment or their crypto is stolen.
Hamish has been working within the Financial Services industry for over 20 years and has been providing holistic financial advice to clients for over 16 years.
Prior to the establishment of Adelaide Private Wealth in 2014 Hamish worked as a Financial Adviser with one of Australia’s leading Banks after which he worked with many of his existing clients as a Principal in one of Adelaide’s larger Genesys Wealth Advisers businesses.
Over the years Hamish has become a specialist in the areas of portfolio management, personal protection, retirement planning and is an Accredited Direct Equities and SMSF Adviser. He is passionate about partnering with clients to manage their financial affairs effectively, giving them the confidence and time to pursue the lifestyle they wish.
Hamish holds a Diploma of Financial Advice and a Master of Commerce with a major in Financial Planning. He is also a member of the Royal Association of Justices of South Australia Inc and a member of the Association of Financial Advisers (AFA).
Hamish lives in Goodwood with his wife and is a proud father of three young boys. He enjoys playing golf, following AFL, reading and gardening in his spare time.
Ben Newbold
Ben Newbold
Financial Adviser / Director
Ben has 21 years of experience in the financial planning industry. He has worked for large institutional banks, boutique advice firms and has been delivering holistic advice solutions to clients for more than 19 years.
Ben prides himself on exceeding expectations and providing quality education to his clients around their financial matters, enabling them to make sound and informed decisions.
Ben provides expert and detailed advice in the areas of superannuation, retirement, wealth creation, insurance and Centrelink. He also provides specialist advice in Aged Care strategies to help maximise benefits and minimise aged care fees.
Highly qualified in financial matters Ben holds a Diploma of Financial Planning, a Bachelor of Banking and International Finance and is both an Accredited Direct Equity and SMSF Adviser. He is passionate about using the knowledge he has built up to help clients get to where they want to be.
Outside of work Ben is heavily involved in sport, and is a proud Life Member of both Unley Football Club and Sacred Heart Old Collegians Cricket Club. He enjoys spending any spare time with his wife and chasing after their three children.
Mark Humphris
Mark Humphris
Financial Adviser / Director
Mark has been involved in the financial services industry for 21 years and has a wide array of experiences that he draws on in giving great advice. Mark believes strongly that personalised advice and guidance together with a very high attention to detail provides clients with the best opportunity to meet their financial and lifestyle goals.
Mark is a strategic thinker and specialises in helping clients initially review and build the right asset and debt structures, before providing detailed advice in the areas of superannuation and investments, cashflow management, family protection and insurances and Centrelink strategies. Mark has had great success in helping people identify and implement opportunities to adjust their cashflow, assets and liabilities to prepare and transition into a great retirement without any financial stresses.
Mark holds a Diploma of Financial Planning, Bachelor of Business (Banking and Finance) and is Listed Security accredited.
When not at work Mark spends time with his young family, enjoys attending sporting events or a quick getaway to the family farm on weekends.
General Advice Disclaimer
Information provided on this website is general in nature and does not constitute financial advice.
Adelaide Private Wealth will endeavour to update the website as needed. However, information can change without notice and Adelaide Private Wealth does not guarantee the accuracy of information on the website, including information provided by third parties, at any particular time.
Every effort has been made to ensure that the information provided is accurate. Individuals must not rely on this information to make a financial or investment decision. Before making any decision, we recommend you consult a financial adviser to take into account your particular investment objectives, financial situation and individual needs.
Adelaide Private Wealth does not give any warranty as to the accuracy, reliability or completeness of information which is contained in this website. Except insofar as any liability under statute cannot be excluded, Count Financial Limited and its employees do not accept any liability for any error or omission on this web site or for any resulting loss or damage suffered by the recipient or any other person.
Unless otherwise specified, copyright of information provided on this website is owned by Count Financial Limited. You may not alter or modify this information in any way, including the removal of this copyright notice.
Terms & Conditions - Hamish Zerbe
This website is operated by Hamish Zerbe & Associates Pty Ltd, ABN 40 573 262482. We are an authorised representative of Count Financial Limited, an Australian Financial Services Licensee. These are the terms and conditions for use of this site and access to the information contained on this site.
We and our authorising licensee:
do not give any warranty or make any representation as to the accuracy, reliability, completeness or security of the information contained on this site and as to changes in circumstances after the date of publication that may impact on the accuracy of the information;
may change and update the information from time to time;
make no representation in relation to, and are not responsible in any way, for the content of any other site you access via this site; and
own the copyright in the information on this site.
Users must not use or reproduce any of the trademarks that appear on this site.
Users of this site must not:
do anything to alter or modify the information on this site;
use the material on this site for any purpose other than as a source of information for personal use unless authorised to the contrary;
distribute, copy or otherwise reproduce in any way any of the material available from this site unless it is expressly authorised;
post any material which is defamatory, in breach of copyright, in breach of the Trade Practices Act or otherwise in any way unlawful or inappropriate.
Users can print a hard copy of material on this site for their personal use only other than material where this is prohibited by a notice to that effect on this site.
The information contained on this site is made available to residents of Australia and its territories and is not intended to be a recommendation, offer or invitation to take up securities or other investments.
We and our authorising licensee are not liable in any way to any person for any loss, damage, cost or expense incurred as a result of the material contained on this site or from unauthorised access to, or any misuse of this site including, without limitation, any negligence by us.
All references on this site to “$” or “dollars” are references to Australian currency unless otherwise stated.
Users of this site agree to indemnify us and our authorising licensee from all liability, cost and expense, (including legal fees) arising directly or indirectly from the use or distribution by any person of material placed on the site by the user or from the alteration, modification of or addition to material on the site by the user.
We and our authorising licensee do not endorse and are not responsible for information, feedback, questions or comments placed on this site by third parties. We can reproduce, use, disclose and distribute the information to others in our absolute discretion.
Links to other sites are provided for your convenience only. Any such links do not constitute or imply endorsement or recommendations of any other company, product or service or any affiliation between us and other organisation (unless otherwise expressly stated).
You consent to us monitoring your use of this site.
Terms & Conditions - Ben Newbold
This website is operated by Ben Newbold & Associates Pty Ltd, ABN 82782076621. We are an authorised representative of Count Financial Limited, an Australian Financial Services Licensee. These are the terms and conditions for use of this site and access to the information contained on this site.
We and our authorising licensee:
do not give any warranty or make any representation as to the accuracy, reliability, completeness or security of the information contained on this site and as to changes in circumstances after the date of publication that may impact on the accuracy of the information;
may change and update the information from time to time;
make no representation in relation to, and are not responsible in any way, for the content of any other site you access via this site; and
own the copyright in the information on this site.
Users must not use or reproduce any of the trademarks that appear on this site.
Users of this site must not:
do anything to alter or modify the information on this site;
use the material on this site for any purpose other than as a source of information for personal use unless authorised to the contrary;
distribute, copy or otherwise reproduce in any way any of the material available from this site unless it is expressly authorised;
post any material which is defamatory, in breach of copyright, in breach of the Trade Practices Act or otherwise in any way unlawful or inappropriate.
Users can print a hard copy of material on this site for their personal use only other than material where this is prohibited by a notice to that effect on this site.
The information contained on this site is made available to residents of Australia and its territories and is not intended to be a recommendation, offer or invitation to take up securities or other investments.
We, our authorising licensee are not liable in any way to any person for any loss, damage, cost or expense incurred as a result of the material contained on this site or from unauthorised access to, or any misuse of this site including, without limitation, any negligence by us.
All references on this site to “$” or “dollars” are references to Australian currency unless otherwise stated.
Users of this site agree to indemnify us and our authorising licensee from all liability, cost and expense, (including legal fees) arising directly or indirectly from the use or distribution by any person of material placed on the site by the user or from the alteration, modification of or addition to material on the site by the user.
We and our authorising licensee do not endorse and are not responsible for information, feedback, questions or comments placed on this site by third parties. We can reproduce, use, disclose and distribute the information to others in our absolute discretion.
Links to other sites are provided for your convenience only. Any such links do not constitute or imply endorsement or recommendations of any other company, product or service or any affiliation between us and other organisation (unless otherwise expressly stated).
You consent to us monitoring your use of this site.
Terms & Conditions - Mark Humphris
This website is operated by Strathmore Nominees Pty Ltd, ABN 65 218 962 870. We are an authorised representative of Count Financial Limited, an Australian Financial Services Licensee. These are the terms and conditions for use of this site and access to the information contained on this site.
We and our authorising licensee:
do not give any warranty or make any representation as to the accuracy, reliability, completeness or security of the information contained on this site and as to changes in circumstances after the date of publication that may impact on the accuracy of the information;
may change and update the information from time to time;
make no representation in relation to, and are not responsible in any way, for the content of any other site you access via this site; and
own the copyright in the information on this site.
Users must not use or reproduce any of the trademarks that appear on this site.
Users of this site must not:
do anything to alter or modify the information on this site;
use the material on this site for any purpose other than as a source of information for personal use unless authorised to the contrary;
distribute, copy or otherwise reproduce in any way any of the material available from this site unless it is expressly authorised;
post any material which is defamatory, in breach of copyright, in breach of the Trade Practices Act or otherwise in any way unlawful or inappropriate.
Users can print a hard copy of material on this site for their personal use only other than material where this is prohibited by a notice to that effect on this site.
The information contained on this site is made available to residents of Australia and its territories and is not intended to be a recommendation, offer or invitation to take up securities or other investments.
We and our authorising licensee are not liable in any way to any person for any loss, damage, cost or expense incurred as a result of the material contained on this site or from unauthorised access to, or any misuse of this site including, without limitation, any negligence by us.
All references on this site to “$” or “dollars” are references to Australian currency unless otherwise stated.
Users of this site agree to indemnify us and our authorising licensee from all liability, cost and expense, (including legal fees) arising directly or indirectly from the use or distribution by any person of material placed on the site by the user or from the alteration, modification of or addition to material on the site by the user.
We and our authorising licensee do not endorse and are not responsible for information, feedback, questions or comments placed on this site by third parties. We can reproduce, use, disclose and distribute the information to others in our absolute discretion.
Links to other sites are provided for your convenience only. Any such links do not constitute or imply endorsement or recommendations of any other company, product or service or any affiliation between us and other organisation (unless otherwise expressly stated).
You consent to us monitoring your use of this site.
Disclosure - Hamish Zerbe
Hamish Zerbe and Hamish Zerbe & Associates Pty Ltd, ABN 40 573 262 482, trading as Adelaide Private Wealth are Authorised Representatives of Count Financial Ltd ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 8, 1 Chifley Square, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney 2000 NSW. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd. The information on this web page is not advice and is intended to provide general information only. It does not take into account your individual needs, objectives or personal circumstances.
Disclosure - Ben Newbold
Ben Newbold and Ben Newbold & Associates Pty Ltd, ABN 82 782 076 621, trading as Adelaide Private Wealth are Authorised Representatives of Count Financial Ltd ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 8, 1 Chifley Square, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney 2000 NSW. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd. The information on this web page is not advice and is intended to provide general information only. It does not take into account your individual needs, objectives or personal circumstances.
Disclosure - Mark Humphris
Mark Humphris and Strathmore Nominees Pty Ltd, ABN 65 218 962 870, trading as Adelaide Private Wealth are Authorised Representatives of Count Financial Ltd ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 8, 1 Chifley Square, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney 2000 NSW. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd. The information on this web page is not advice and is intended to provide general information only. It does not take into account your individual needs, objectives or personal circumstances.
