How to Invest in Bullion Using Your Self Managed Super in Australia: A Step by Step Guide

Investing in gold and silver bullion can be a smart way to diversify your portfolio and protect your wealth from inflation, market volatility and currency devaluation. However, if you want to invest in bullion using your superannuation money, you need to follow some specific rules and regulations. In this article, we will explain how you can invest in bullion using your self managed super fund (SMSF) in Australia, and what are the benefits and requirements of doing so.

Gold and Silver features

Step 1: Set up your SMSF

To invest in bullion using your superannuation money, you need to have a self managed super fund (SMSF). An SMSF is a type of superannuation fund that gives you more control and flexibility over your retirement savings. You can set up your own SMSF with up to four members, who are usually family or friends. You also need to appoint a trustee, who can be either yourself or a corporate entity, to manage the fund and comply with the relevant laws and regulations.

To set up your SMSF, you need to:

Register your fund with the Australian Taxation Office (ATO) and obtain an Australian Business Number (ABN) and a Tax File Number (TFN).
Create a trust deed that outlines the rules and objectives of your fund.
Open a bank account for your fund and transfer your existing superannuation money into it.
Prepare an investment strategy that suits your goals, risk appetite and circumstances.
Arrange an annual audit of your fund by an approved SMSF auditor.

You can set up your SMSF yourself or seek professional advice from a qualified SMSF specialist.

Step 2: Choose a reputable bullion dealer

To invest in bullion using your SMSF, you need to choose a reputable bullion dealer that can provide you with high-quality products, competitive prices, secure storage and reliable service. You also need to ensure that the bullion dealer complies with the ATO’s rules and regulations for SMSF investments.

Some of the reputable bullion dealers in Australia that cater to SMSF investors are ABC Bullion and Ainslie Bullion. Both of these dealers offer a wide range of gold and silver products, such as bars, coins and rounds, as well as secure storage options, insurance coverage, online trading platforms and SMSF support services.

To choose a reputable bullion dealer for your SMSF, you need to:

Compare the products, prices, fees and services offered by different dealers.
Check the reputation, accreditation and reviews of the dealers.
Contact the dealers and ask them any questions you may have about their products, storage, insurance, delivery and SMSF compliance.

Step 3: Buy and store your bullion

To buy bullion using your SMSF, you need to follow the ATO’s rules and regulations for SMSF investments. These include:

Buying bullion for genuine retirement purposes, not for personal use or enjoyment.
Buying bullion at market price from an unrelated party.
Storing bullion in a secure location that is not accessible by any related party or any private residence.
Insuring bullion in the name of your SMSF within seven days of purchase.
Documenting the decision on where to store the bullion and keeping a written record of it.
Reporting the value of the bullion in your annual financial statements.

To buy and store bullion using your SMSF, you need to:

Open an account with your chosen bullion dealer in the name of your SMSF.
Provide any supporting documentation required by the dealer, such as photo ID, trust deed and ABN.
Place an order for the desired amount and type of bullion through the dealer’s online platform or over the phone.
Pay for the order using your SMSF bank account.
Choose a storage option offered by the dealer or arrange your own storage facility that meets the ATO’s requirements.
Receive an invoice, a storage statement and an insurance certificate from the dealer.

Step 4: Monitor and manage your investment

To monitor and manage your investment in bullion using your SMSF, you need to:

Keep track of the market price and performance of your bullion.
Review your investment strategy regularly and adjust it if necessary.
Keep accurate and up-to-date records of your transactions, storage, insurance and valuation of your bullion.
Report any changes or events that affect your SMSF to the ATO, such as adding or removing members, changing trustees or winding up the fund.
Lodge your annual return and pay any tax liabilities to the ATO.

Investing in bullion using your SMSF can be a rewarding and beneficial way to diversify your portfolio and secure your retirement savings. However, it also involves some responsibilities and risks that you need to be aware of and comply with. By following this step by step guide, you can invest in bullion using your SMSF in Australia with confidence and ease.

In the previous article, we explained how you can invest in bullion using your self managed super fund (SMSF) in Australia, and what are the benefits and requirements of doing so. In this article, we will introduce you to GoldSilverStacker, the best tool for tracking your bullion investments using your SMSF.

GoldSilverStacker can help you manage that investment:

GoldSilverStacker is a user-friendly and comprehensive platform that allows you to track the real-time value of your precious metals stack, gain investment insights, and manage your portfolio with ease. Unlike the Bullion Spreadsheet Tracker, which is outdated, unreliable and cumbersome, GoldSilverStacker is modern, accurate and efficient.

Simple Interface:

GoldSilverStacker has a simple and easy-to-use interface that lets you find everything you need right at your fingertips. You can easily add new items to your stack, view your portfolio summary, access live spot prices, and see graphs of your performance over time.

Real-Time Prices:

GoldSilverStacker keeps its prices up-to-date by pulling the latest market data every 10 minutes. This way, you can be sure that you’re always getting the best possible price for your bullion. You can also compare what you paid for your assets to their current market value with the paid price per troy ounce and market price per troy ounce features.

Graphs:

GoldSilverStacker provides easy-to-read graphs that show your portfolio’s performance over time. You can see how your portfolio has grown in value, how it has performed against different benchmarks, and how it has diversified across different metals and products.

Private and Secure:

GoldSilverStacker values your privacy and security. It uses industry-leading security that keeps your data encrypted and private. You can also choose to remain anonymous by using a pseudonym instead of your real name.

Pricing:

GoldSilverStacker offers a free trial for 30 days, after which you can choose a monthly or yearly plan that suits your budget. The monthly plan costs $4.99 per month, while the yearly plan costs $45 per year.

GoldSilverStacker is the best tool for tracking your bullion investments using your SMSF. It offers a user-friendly and comprehensive platform that helps you stay informed and make smart decisions about your portfolio. It also outperforms the Bullion Spreadsheet Tracker in every aspect, making it a superior alternative for SMSF investors.

If you want to try out GoldSilverStacker and experience its benefits first-hand, you can sign up for a free trial today and start tracking your bullion in under 15 seconds.

Disclaimer: This article is intended as an opinion piece and does not constitute financial advice. Investing in bullion carries risks, and individuals should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.

Links for places to start investing now:

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