Platinum/gold/silver bullion
Buying gold bullion through an SMSF can be a way to diversify your superannuation investments. SMSFs can invest in gold, silver and other precious metals, provided the investment complies with the SMSF investment strategy and superannuation laws.
Can an SMSF Buy Gold Bullion?
Yes. An SMSF can generally invest in:
- Gold bullion bars
- Silver bullion
- Platinum
- Eligible bullion coins
Trustees should ensure:
- The SMSF is the owner of the bullion.
- The investment is permitted under the SMSF investment strategy.
- The purchase is properly documented.
- The bullion is held for investment and retirement purposes.
- The transaction is conducted on an arm’s-length basis.
Can SMSF Bullion Be Stored at Home?
Yes. Professional storage is not compulsory for investment bullion.
SMSF bullion can be stored privately, provided the ownership and storage arrangements can be properly demonstrated.
Trustees should keep:
- Purchase invoices or receipts
- Photos of the bullion
- Serial numbers, where applicable
- Evidence of the storage location
- An up-to-date asset register
- Evidence supporting the market value
Insurance is not compulsory for ordinary investment bullion, although trustees should consider whether insurance is appropriate.
Can You Buy Bullion Privately for an SMSF?
Bullion may be purchased from a private seller, provided the transaction complies with the SMSF rules and is properly documented.
Trustees should obtain:
- A proper invoice or purchase receipt
- Evidence identifying the bullion
- Evidence of the purchase price
- A certificate or other evidence confirming the genuineness and purity of the bullion
- Evidence that the transaction was conducted at market value
Related-party transactions require particular care, as SMSFs are generally restricted from acquiring assets from related parties unless a specific exception applies.
Can an SMSF Sell Bullion to a Member?
Where permitted under the superannuation rules, an SMSF may sell bullion to a member or related party provided the transaction is conducted on an arm’s-length basis and at market value.
The SMSF should retain:
- Market valuation
- Sale agreement or invoice
- Payment evidence
- Transfer of ownership records
- Supporting documentation for the SMSF auditor
What Does the SMSF Auditor Need?
For the annual SMSF audit, we recommend providing:
- 📸 Dated photographs of the bullion
- 🧾 Purchase invoices or receipts
- 🔢 Serial numbers, where applicable
- 📜 Certificate of authenticity or purity if buying privately
- 📍 Storage details
- 📊 Evidence of the 30 June market value
- 💰 Sale documents if bullion was sold during the year
Market prices can be obtained from reliable sources such as the Perth Mint Metal Prices.
iCare Super – No Additional Bullion Management Fee
At iCare SMSF, the management and accounting of SMSF bullion can be included as part of our SMSF service.
We do not charge an additional fee for managing bullion held by your SMSF.
If you are considering buying gold bullion through your SMSF, contact us to discuss the purchase, documentation, valuation and audit requirements.
Disclaimer
This article provides general information only and is not financial, legal or tax advice. SMSF investment and related-party transaction rules can be complex and depend on the individual circumstances of the fund. Trustees should obtain appropriate professional advice before buying, storing or selling bullion through an SMSF.
Information and legislation can change. iCare Super does not guarantee that the information in this article is current or applicable to your particular circumstances.