Benefits of Bullion in Super
- Thread starter Ausecon
- Start date
Ausecon said:
umm there is no tax on bullion mate unless you sell for profit then the CGT cuts in, however assuming you hold the bullion for 12 months then the CGT is reduced to 10% from memory
I think you need to discover that gold and silver are not an investment, they are a preservation of wealth. Gold and silver do not appreciate in value, it is fiat currency that depreciates in value
And as such, no CGT is payable. There are legal rulings, whilst old, to this effect.hiho said:
http://www.austlii.edu.au/cgi-bin/s...5.html?stem=0&synonyms=0&query=bookmaker gold
Yippe-Ki-Ya
New Member
boston said:
Unfortunately that ruling was made before the thieving CGT was introduced.
However, I still believe that a case could be made that bullion does not appreciate in value and hence CGT is not payable.
CGT on bullion is simply theft using inflation
Yippe-Ki-Ya said:
Thanks guys, i think you misunderstand my question.
My question is if I have $1k i could put it in the bank or buy gold/silver.
If i buy in my own name, I forgoe the interest on the 1K and save paying tax in the interest (at a rate presumably greater than 15%).
If i buy in an SMSF, i forgoe the interest on the 1k and save paying tax on the interest at 15%.
So by buying outside of super, i am better off on a net basis after tax.
My question was directed at the opportunity cost on the interest, not the capital appreciation.
Any thoughts?
Depends what other choices you have to invest in with your super. Id rather have a percentage of my super in something tangible, than 100% paper assets, like shares or cash, that can crash to nothing or be inflated away.
nonrecourse
Well-Known Member
hiho said:
Spot on Hiho about preservation of wealth as opposed to speculating for a capital gain. Having said that with fiat the way its going appreciation for the next 20 years is almost a given. There is also no CGT if you hold onto your gold or silver until you go into pension mode and then sell it.
Kind Regards
non recourse
Matthew 26:14
New Member
Super AT PRESENT is the best (from capital available+tax benefits) method of investing but THEY KEEP CHANGING THE RULES!
And so if you are in your 50's then super is more of a "known" than if you are in your 20's or 30's.
For example, the old age pension has been raised from 65 to 67. If you are in your 30's now, I bet that by the time you reach 60 in say 25-30 years time, the preservation age of Super will not be 60 anymore, more like 65.
And the argument will be that "oh people are living longer" and all that usual crap. The fact is, Governments want money held in Super for as long as possible so that:
a) People will work into older age
b) The funds kept in Super get to be taxed longer (currently if you are under 60 its at 15%)
c) The Fund Managers get to play around and make hefty commissions off the sheeples money who dont have an SMSF or havent bothers to condense funds or shop round for low fees.
Whichever way you turn, its about screwing the little guy (by that I mean YOU!) out of accumulating and using your own money as much as possible.
And so if you are in your 50's then super is more of a "known" than if you are in your 20's or 30's.
For example, the old age pension has been raised from 65 to 67. If you are in your 30's now, I bet that by the time you reach 60 in say 25-30 years time, the preservation age of Super will not be 60 anymore, more like 65.
And the argument will be that "oh people are living longer" and all that usual crap. The fact is, Governments want money held in Super for as long as possible so that:
a) People will work into older age
b) The funds kept in Super get to be taxed longer (currently if you are under 60 its at 15%)
c) The Fund Managers get to play around and make hefty commissions off the sheeples money who dont have an SMSF or havent bothers to condense funds or shop round for low fees.
Whichever way you turn, its about screwing the little guy (by that I mean YOU!) out of accumulating and using your own money as much as possible.
Yippe-Ki-Ya
New Member
Matthew 26:14 said:
The merits of having a socialist/fascist form of government... ENJOY!