New standards now apply to SMSFs that make new investments in collectables and personal use assets. The standards will ensure these investments do not give rise to a current day benefit for SMSF trustees so that such investments are made for genuine retirement purposes.

This measure will apply to all new investments in collectables and personal use assets from 1 July 2011 and all existing holdings must comply with these regulations or be disposed of by 1 July 2016. For more information, refer to:

Self-managed super funds investing in collectables and personal use assets