Hi There, Is there a special requirement for investing your SMSF Gold? Such as storage location etc I'm thinking of investing 20% of my SMSF in gold. I recon i can double it by next year by the way things are going , if not long term plan. Cheers
yes you can, your deed needs to state you intend to invest in PM's, you also need your investment plan to include the proportion of PM's. Then you need to decide where you will be storing your PM's, must be at arms length, write some minutes to theat effect stating the location etc, then get all the trustees to sign the minutes and off you go. I have recently bought some gold also, but if you think youre going to double your money I would be very careful.
As I have said many times on this site. Purchasing gold/silver bullion is best done as a hedge for your other investments. Speculating on making a capital gain is not investing its gambling and the long term odds are against you. Your investments should be in assets that give you a steady return via income, be it property, shares, bonds, taxi licences or whatever. Any capital gain you make should be viewed as icing on the cake rather than your prime focus. Over a 20-30 year time period the income you make from your investments and reinvested in further income producing assets puts in play as Albert Einstein commented the eighth wonder of the world compound interest. If the growth is in an asset like property the increased value is not taxed and because of the increased value the rental return also compounds. When you look at depreciation if it is a property or franking credits if it is shares it all goes towards increasing your after tax returns. Kind Regards non recourse
