Hello all.. its been a while since I've been on this site, hope all is well.. now.. I have a question I really need help answered by people in the know.. I hope someone can give me some feedback and I would like to thank those in advance... much appreciated.. I hold a SMSF, however wanting to rollover to another fund. in order to do so, I need to provide a 'valuation of all physical metal' on hand for the financial year.. Who, or what is the best way to provide that VALUATION?? any feed back is really really appreciated.. Cheers
if bullion, quote these prices. You'll have to do the calcs. Edit to add: (Insert relavent info here: http://forums.silverstackers.com/topic-28137-end-of-financial-year-2011-2012-prices.html) Oops.
I've always provided an estimate based on spot prices at end of tax year + premiums (if coins). Just a simple calculation with notes below on how I estimated it.
You've been missed Jackpot Don't make life hard for yourself...count it all as bullion ounces (incl coins). Use the spot price from the Perth Mint on any day or time you like (just make a note of when)... If anyone has a problem with your calculation, the onus is on them to varify the price at the time of the calc...it's not for you to run around prooving the facts. If you're not selling it...it doesn't really matter anyway. It's like trying to value an investment painting. The price doesn't matter...just the fact that the chattel is held in the SMSF. The only 'valuation' that counts is the valuation the market puts on your investment when it sells...or if it's stolen or destoyed.... to which end it is an insurance for you to look after and none of the Govt's business.
Thank you all for the feedback... much appreciated... now I can get me paperwork done and back to stacking..
