New Legislation for Collectables and Personal Use Assets for SMSF's

A new page has been added to our website regarding investments in collectables and personal use assets within a Self Managed Super Fund. To learn more, please click here.

The new legislation is quite clear on what trustees can and cannot do with collectables and personal use assets in their SMSF. These collectables and personal use assets, now defined in section 62A of the Superannuation Industry (Supervision) Act 1993 (SISA), are regulated by section 13.18AA of Superannuation Industry (Supervision) Regulations 1994 (SISR) and allow for a phase in period for collectable or personal use asset held before 30 June 2011.

The phase in period gives trustees of Self Managed Super Funds until 30 June 2016 to either comply with the new legislation or dispose of the asset. If a collectable or personal use asset is purchased after 30 June 2011, the legislation applies immediately.

If you would like more information, please call 03 9802 2533 or email myself by clicking here.

Mark Rogerson
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