Australian Gold Super

Australian Gold Superannuation

Australians can take advantage of the gold rush by using their Superannuation Guarantee money to buy gold investment products. Gold has been on the rise in recent years, and despite a recent lull in its upward climb, investment experts expect it to rise again on persisting fears about the world economy, particularly that of the U.S.

Australians who want to see their retirement money placed in a secure investment that will safeguard and grow their wealth should look into investing their Super money into gold. What it is The government of Australia, in 1992, created the Superannuation Guarantee pension system.

Under this system employers are compelled to make contributions equivalent to 9 percent of their employees salary into a registered fund on behalf of each employee. These funds are usually managed by a financial services company or other investment firm. These companies offer choices of stocks, bonds and other investments to the employees to invest their money into. Because of this flexibility, Australians can invest some of their retirement dollars into gold. Gold has been doing well in the recent economic downturn, and is now worth about three times what it was worth four years ago.

Few other investments can make the same claim in the current economic environment. One way Australians can obtain greater flexibility to manage their Super funds and invest them in gold is to set up a Self Managed Super Fund or SMSF. You can set up a SMSF by talking with an accountant or attorney. In most cases, these funds can be established for as little as $500. You can include up to four participants in the SMSF, making it a trust, with each member being a trustee.

The trust can include collectibles and precious metals such as silver and gold products such as bars and coins. Once the SMSF is set up, participants can invest in gold and silver products, and take physical deliver of the products if they choose, or have a bank store the gold for them. Once per year, the government will require an audit of your SMSF. Various tax forms will be required to be submitted to the Australian Taxation Office.

You can use the accountant or attorney who set up your SMSF to do this. Costs generally run about $600.

As gold continues its upward rise, and world financial markets continue to be unstable, gold will become an increasingly attractive safe harbor for retirement funds. Taking control of your retirement via a SMSF is an important first step to investing your nest egg in one of the safest and most reliable investment commodities available on the financial market.