{"id":4703,"date":"2019-09-09T15:40:08","date_gmt":"2019-09-09T05:40:08","guid":{"rendered":"http:\/\/www.www.walshaccountants.com\/?p=4703"},"modified":"2019-09-23T10:18:34","modified_gmt":"2019-09-23T00:18:34","slug":"superannuation-your-pot-of-gold","status":"publish","type":"post","link":"https:\/\/www.walshaccountants.com\/superannuation-your-pot-of-gold\/","title":{"rendered":"Superannuation \u2013 Your pot of Gold?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4703\" class=\"elementor elementor-4703\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6769628c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6769628c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3bfd39a3\" data-id=\"3bfd39a3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1f1bfb18 elementor-widget elementor-widget-text-editor\" data-id=\"1f1bfb18\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tWhether it is for diversification, investment preferences, or the fear of the next global stock market and housing meltdown, a common client question is \u201ccan my Self-Managed Superannuation Fund (SMSF) invest in gold? If so, what are the rules?\u201d\r\n<h2>Why would you want to invest in Gold?<\/h2>\r\nYour SMSF is usually your largest wealth creation vehicle for your retirement, therefore having defensive assets that act inversely (oppositely) to the stock and property market may be the key to a truly balance portfolio. Thereby when a crisis such as a stock market crash and the property bubble bursting together, money commonly flees to gold and silver driving the price up.\r\n<h2>Can the SMSF Invest in Gold?<\/h2>\r\nYour SMSF can invest in the majority types of Gold however the rules in relation to holding the investment are significantly different and may lead to certain types of gold investment being cost prohibitive.\r\n\r\n<strong>Gold Coins<\/strong>\r\n\r\nCoins are defined as a collectables and therefore fall under an extensive and costly set of rules, such as compulsory insurance, independent storage requirements and regular audits.\r\n\r\n<strong>Gold Bullion<\/strong>\r\n\r\nBullion is what we think of in our heads of gold bars. They are not defined as collectables and therefore have a simplified rule set.\r\n\r\n<strong>The SMSF Trustees have to decide:<\/strong>\r\n<ul>\r\n \t<li>Where the Bullion will be stored?<\/li>\r\n<\/ul>\r\nIt is the Trustees\u2019 obligation to ensure the Bullion is securely stored. Ideally at an independent specialist vault provider. However it can be stored at a related party\u2019s residence in a safe.\r\n<ul>\r\n \t<li>Should the Bullion be insured?<\/li>\r\n<\/ul>\r\nIt is the Trustees discretion as to whether to insure the bullion, mainly from theft. If insurance is obtained, it must be in the name of the SMSF and not a personal policy (e.g. home and contents).\r\n<h2>How is the Bullion audited?<\/h2>\r\nWhen auditing an investment that falls outside the usual list of financial products; shares, bank accounts etc., that can be easily checked with a bank or broker the auditor of the SMSF is primarily concerned with confirming that the gold exists\/still exists (Existence) and that it is appropriately valued (Valuation).\r\n\r\nWe satisfy the auditor through:\r\n<ul>\r\n \t<li>A signed declaration from the SMSF Trustees confirming existence and quantity of the Bullion,<\/li>\r\n \t<li>Letters from Vault Provider or Photos with 30 June newspapers,<\/li>\r\n \t<li>Insurance Policies,<\/li>\r\n \t<li>Copies of all purchase and sale invoices, and<\/li>\r\n \t<li>Providing details of the size and quality of the bullion.<\/li>\r\n<\/ul>\r\n<strong>Summary<\/strong>\r\n\r\nGold Bullion is an allowable investment for a SMSF and when appropriately structure can be an effective investment to help diversify your portfolio and achieve a better overall portfolio return. If you are interested in Gold Bullion for your SMSF or interested in establishing a SMSF to invest in Gold Bullion please get in contact with our office today to speak with one of our SMSF Managers from our <a href=\"https:\/\/www.walshaccountants.com\/our-teams\/smsf-division\/\"><span style=\"color: #000080;\">Walsh<\/span> SMSF Division<\/a>.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Whether it is for diversification, investment preferences, or the fear of the next global stock market and housing meltdown, a common client question is \u201ccan my Self-Managed Superannuation Fund (SMSF) invest in gold? If so, what are the rules?\u201d Why would you want to invest in Gold? Your SMSF is usually your largest wealth creation [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":4700,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[61,14],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Superannuation \u2013 Your pot of Gold? | Walsh Accountants<\/title>\n<meta name=\"description\" content=\"A common question from our Clients \u201cCan my Self-Managed Superannuation Fund (SMSF) invest in gold? 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