help with e-super

So ive set up my SMSF with e-super and finally managed to roll over my existing super into the anz V2 account...

When I buy metals say from the perth mint do I need to set up a new perth mint account in my super funds name? Or can I buy from them with my existing perth mint account and just change where the money is being drawn from?

Or would it be better if I bought from elsewhere than the perth mint?

Thanks for your help I just turned 23 so this is all pretty new to me

 

you need to setup a new account with your superfund name....
tax invoice MUST have your fund name on it

you can buy where ever you want, even off other people here, but just make sure fund name is on invoice

be very careful....paper trail is very important and harsh penalties for non complying funds

 

Do you know whether you can buy from yourself?

 

Generally it's not the best situation but as long as everything is done 'at arms length' that it, using market prices then it's not a problem. Same as selling share held in your own name into your super fund. This can be done but you need to use the asx price for the share on the day of transfer. Anything more or less would not be an arms length transaction.

In terms of buying and selling gold and silver I would suggest getting a perth mint pricelist on the day of the transfer and using the quoted number. This should satisfy the auditor.

 

I thought the same thing about buying from myself, that would be lot easier than setting up a new account

Would i have to pay capital gains taxes then because everything is documented?

 

I guess not becuase you would just buy it and then buy it with your super account on the same day hmm

Has anyone done this?