Hi all, Please bear with me, this is my first ever 'new topic' post on the Silver Stackers forums... i've done some searching but haven't been able to find specific info on the couple of brief questions i've got. I am investing in physical metal for my SMSF Took a lot of paperwork to get it all set up but am excited to be investing in something which is known to preserve it's value. Though, there seems to be a lot of what they call 'FUD' in the press about SMSF and even some conspiracy people worrying about the government raiding super funds to bolster up the budget. I even had one person tell me that it was illegal to have a super fund have 'physical metal' in it's posession. Could someone put my mind at ease? If I was able to set up a bullion trading account at the Perth Mint, then obviously it is perfectly legal to own physical metal in SMSFs? The government can't simply demand that all SMSF's hand over X% of their values/assetts can they? Why do so many accountants and financial advisors seem - if not hostile - then incredulous towards people who are running their own SMSF's? Thanks for taking time to read my queries, happy stacking! -FluffyWesties
Yes The government can do anything at the point of a gun, but it's probably unlikely. I don't talk to financial advisors or accountants, so I wouldn't know if that was the case. Sometimes I do see them crossing streets however - I try to run them over.
Yeah you're allowed to own physical. Ill try and find some posts about it. As for governments raiding smsfs you never know with this government. As for accountants, i doubt theyd be hostile but financial advisors would probably be that way because they get kickbacks for recommending people to certain superfunds/products etc.
