Australia is one of the largest producers and exporters of precious metals; in recent years, it has ranked as the second-leading gold-producing country, with over 9.5 million ounces. It has also held the fourth-highest position in silver production globally, accounting for about 65 million ounces.
With access to such profitable precious metals, it is best to invest in these assets using your superannuation, thus protecting your wealth until the day you retire. Like Gold Bullion Australia, reputable consultants cite that most Aussies use their SMSF to invest in precious metals to suit their investment plans. Here are the top aspects you need to know about investing in these popular assets using your superannuation.
Benefits of Superannuation Funds
As per recent statistics, there are nearly 600k SMSFs and about 1.1 million members of SMSFs in Australia, with a total estimated asset value of over $700 billion.
Such funds, which typically hold 1/3rd of Australia’s total superannuation funds, offer excellent investment choices with tax minimisation and control. Leading experts suggest that precious metals are an insurance policy for wealth preservation, and it is best to use your SMSF to invest in such assets.
Check if you can control precious metals investments using your retirement savings, thus achieving the desired investment benefits when you retire.
Including Precious Metals in Your Superannuation Fund Investments
According to a 2019 report, gold and silver values skyrocketed by around 35% and 25% respectively in Oz, and they continue to maintain the same trend.
The super fund portfolio diversification ensures you have a balanced profile, making it less risky and highly profitable. Top professionals suggest having a percentage of your investment done in reliable precious metals to compensate for possible losses from high-return investments.
Confirm with the specialists whether you can tap the benefits of excellent capital gains to add significant value to your retirement funds in the future.
Precious Metal Types Best Suitable for SMSFs
Last year, gold was the most sought-after asset in Australia, with the yellow metal value rising by over 15% in the first half of the year.
Top consultants suggest choosing those metals for your super fund investments that have excellent liquidity prospects. Check if you can buy or sell them quickly, and they correlate with your other assets in your portfolio. Ensuring such factors allows you to make the best out of the precious metal investments till you retire.
Investing in Bullion Using Your Super Funds
As the first step, you need to have an SMSF fund and register with a reputable consultant like Gold Bullion Australia to purchase top-quality bullion.
Such establishments offer sophisticated vaulting facilities if you wish to store and insure your collectable items like coins. Ensure you have access to online metal account statements with up-to-date valuation and account details.
Also, check if you can purchase cast bars with your super funds, which are relatively cost-effective and often top investments in Australia.
Super Fund Reporting and Auditing for Precious Metals
Each year, June 30 is a critical day in Australia, as you need to include all your contributions in your super fund for auditing and reporting by this date.
Before this deadline, ensure you get the inventory on hand, including the precious metal varieties. Check if you have the complete insurance details and storage specifications, ensuring your physical metal investments are not available for the fund members’ personal use.
Australia has played a crucial role in supporting global precious metals markets amidst the pandemic outbreak. Latest statistics suggest that the country will overtake China, as the largest gold producer, with the gold output forecasted to rise over 350 tonnes by this year.
With the average assets per SMSF member being around $700k, register with an experienced bullion dealer like Gold Bullion Australia to invest in physical metals using your super fund. Rest assured, you can lead a peaceful retired life in Oz, with all your savings protected and value preserved.