End of year valuation

Southerner

Southerner

Active Member
Silver Stacker
Hi folks,

I have bullion in my self managed superannuation fund, and that has been easy to value at year end for the tax man, using the spot price or say Perth Mint price. (That is where I purchased from.)

However during this financial year I have been buying Pandas in the fund, and do not know how to give them a valuation that can be substantiated.

I realize this post could have been in a number of places on the forum, as it applies to all coins and super funds, but I only have bears so I posted it here.

How do all you stackers handle the end of year valuation.


GP - move this post if appropriate.


Southerner


.
 
Good question.

I am not a superannuation expert nor am I a financial advisor but here's my 2c:

You would need to get an independent appraisal and valuations for your collectibles be they coins or ancient relics or vintage cars.

Property would also be another asset class that requires valuation but there's usually cash flow in property so it's a bit different (eg. no DCF, no comparison approach since mintage doesn't equate price 100% of time etc) but you could consider it similar.

For property eg. http://www.google.com.au/url?q=http...kQFjAF&usg=AFQjCNFQ9dv7BP4LYA4bp5r6-dTiNv_yvg

I believe that to get a fair valuation for Pandas and such you would need to approach a reputable coin dealer and get their valuations in writing. Unfortunately I know of almost no dealers locally who have any ideas about Chinese coins except for maybe yennus but I don't know if he's a dealer.
 
mmm....shiney! said:
Fair market value, refer to coin dealers websites and the Pricepedia.
Click to expand...

I dont know the tax laws in australia but here you can put the sale price less purchase cost in earnings.
or the year end sale price less fees in tax over actives.
I think to use pricepedia the less value in us/china ask price dont the auctions.
 
Thank you for your input guys.

I am thinking that Panda Pricepedia is better researched and more authoritative than a personal opinion by a dealer.

I just have to show my accountant that I can substantiate the values I submit for the bunch of Pandas I have.

southerner


.
 
You must log in or register to reply here.
Back
Top