What are collectable and personal Use assets?
Collectable and personal use assets are artworks, antiques, jewellery, coins, medallions, postage stamps, wine and motor vehicles etc.
An SMSF can invest in collectable and personal use assets. However, SMSF trustees need to ensure the following requirements prescribed by ATO to be met to avoid breaching SIS Act.
Please note if the trustees lease these assets to a related party, the in-house asset rules 5% limit exemption do not apply. Therefore, SIS Act will be breached if there is a lease between a SMSF and its related parties.