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PRICE UPDATE

00:02:18

How to buy gold and silver with a self managed super fund (SMSF)

WHAT IS AN SMSF?

When it comes to physical bullion, the only way to buy gold in super is through the creation of a self-managed super fund (SMSF).

An SMSF is a superannuation trust that has the primary purpose of providing retirement benefits to the members, where the members themselves act as trustees and plan their own independent investment strategy. This means that the members control and run the superfund, and choose what assets to invest in, which can include precious metals, and other asset classes that may not be available as an investment choice in a retail or industry super fund.

There are many companies and financial institutions that offer the service of setting up an SMSF and advising clients on the specific details, so it is best to seek professional advice independently.

 

If you already have an SMSF established you can simply create a Bullion Account account here.

HOW AN SMSF WORKS

 

Once an SMSF is established, all fund flows in and out of your SMSF bank account. SMSFs can accept contributions and rollovers from many sources. Some of the most common contributions are:

• superannuation guarantee contributions (employer compulsory contributions)

• from your employer where you have salary sacrificed

personal contributions (voluntary contributions) – concessional and non-concessional

• transfer or rollover from another super fund.

 

The diagram below is a simple illustration of how an SMSF works.

BUY GOLD OR SILVER USING YOUR SMSF

 

If you already have an SMSF, you can register an account with both Guardian Gold and Guardian Vaults under the name of your fund, in order to buy gold using your super. You would also need to provide a copy of the SMSF trust deed, ABN, and ACN of any companies acting as trustee, along with a few forms of ID documents for the individual trustees.

Ordering metals works the same as an individual account transaction, with the price locked in and payment made via BPAY or bank transfer within the hour. You can then also establish a storage option under the name of the SMSF.

Due to the sole purpose test, only SMSF related documents and investments can be stored in your SMSF safe deposit box and nothing else. Many of our clients will have two separate safe deposit boxes, one for their individual investments and one for their SMSF.

SMSF STORAGE AND AUDITING

Stroing metals with an SMSF is easy and you can store remotely using our Key Registered Vaulting option at no additional cost above our standard lease fees.

Each SMSF goes through an end of financial year audit of the fund. During this time, you can arrange an inventory statement from Guardian Vaults that lists your holding and valuation at end of financial year, which you then forward on to your SMSF accountant.

Our experienced staff check and verify your precious metals and email you a statement and photograph of your holdings in your own unique deposit box or safe.

We only charge $40 +GST per 30 minutes for a metal inventory, with the vast majority taking less than 30 minutes.

See more on our storage options here.

 

Bullion Weight Storage Fee Per Annum
Sydney 100 William St Melbourne 271 Collins st Melbourne
10kgs $199 $320 $160
20kgs $290 $320 $320
40kgs $450 $460 $460
100kgs $890 $890 $890
120kgs $890 $925 $1,350
180kgs $1,095 $1,180 $1,350
200kgs $1,095 $1,350 $1,350
250kgs $1,130 $1,430 $1,500
300kgs $1,395 $1,500 $1,500
700kgs $2,495 $2,510 N/A
850kgs $4185 $3,495 N/A
1,000kgs $4,290 $4,375 N/A

IS AN SMSF RIGHT FOR ME?

 

This is something we cannot help with. An SMSF is not right for everybody, it would depend on your individual circumstances. Guardian Gold cannot provide advice as to whether an SMSF is suitable for you or not. This is something you would have to research independently or seek professional financial advice externally.

HOW TO SET UP AN SMSF

 

The setup of an SMSF usually starts by engaging with your accountant, financial advisor or SMSF admin firm.

An SMSF administration firm assists in the establishment and ongoing accounting of the SMSF. There are many examples of different firms that provide unique solutions at different prices, so it pays to shop around and find advice.

For those who already have an SMSF established, you can simply register an account with us and choose SMSF as the client type. With a long history of helping SMSF clients through their precious metals investment journey, you can feel free to call us at any time if you have any questions.

Our seamless solution should make the process as easy as possible, with purchase, storage, insurance, audit statements and liquidation of your investment all in the one place.

Create An Account

Disclaimers: Guardian Gold, Registered Office, Scottish House, 100 William Street, Melbourne, Victoria, 3000. ACN 138618176 (“Guardian Vaults” & “Guardian Gold”) All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher and/or the author. Information contained herein is believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation. Guardian Gold, its officers, agents, representatives and employees do not hold an Australian Financial Services License (AFSL), are not an authorised representative of an AFSL and otherwise are not qualified to provide you with advice of any kind in relation to financial products. If you require advice about a financial product, you should contact a properly licensed or authorised financial advisor. The information is indicative and general in nature only and is prepared for information purposes only and does not purport to contain all matters relevant to any particular investment. Subject to any terms implied by law and which cannot be excluded, Guardian Gold, shall not be liable for any errors, omissions, defects or misrepresentations (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (direct or indirect) suffered by persons who use or rely on such information. The opinions expressed herein are those of the publisher and/or the author and may not be representative of the opinions of Guardian Gold, its officers, agents, representatives and employees. Such information does not take into account the particular circumstances, investment objectives and needs for investment of any person, or purport to be comprehensive or constitute investment or financial product advice and should not be relied upon as such. Past performance is not indicative of future results. Due to various factors, including changing market conditions and/or laws the content may no longer be reflective of current opinions or positions. You should seek professional advice before you decide to invest or consider any action based on the information provided. If you do not agree with any of the above disclaimers, you should immediately cease viewing or making use of any of the information provided.