Insurance

SMSF rules changes for art and collectibles investments

There is currently a transition period in place for new rules that apply to any artwork or collectibles held by an SMSF, however this transition period is coming to an end at1 July 2016.

As a result of the Cooper in SMSFs review, rule changes have been implemented in relation to the requirements for the ownership of collectible and personal use assets by SMSFs. 

Important insurance changes impacting all SMSFs

As a trustee of your SMSF, you now have to review your investment strategy following recent amendments to SMSF requirements in the Superannuation Industry (Supervision) Regulations.

We previously reported on this change back when it was announced in August 2012.

Regulation changes impacting your SMSF

There are a number of regulatory changes that apply from today (7 August 2012) that may impact your SMSF.  These changes are in regards to insurance, investment strategies, keeping investments separate and in the correct name and valuation of assets.  The following is a simplified explanation of these changes and how they impact you as trustees of your SMSF.