SMSF Collectible Asset Rules
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Questions and Answers

What must be done within 7 days of acquiring a collectible asset in an SMSF?

  • Documented decision of asset storage
  • Asset to be insured (correct)
  • Asset not stored in a private residence of a related party
  • Asset not used by a related party

    • What must be done if an asset is disposed of to a related party?

  • Documented decision of asset storage
  • Asset to be insured
  • Asset not stored in a private residence of a related party
  • Asset must be sold at market price assessed by a qualified independent valuer (correct)

    • Which of the following is not an investment standard for collectibles in an SMSF?

  • Asset not leased to a related party
  • Asset not stored in a private residence of a related party
  • Asset to be insured within 7 days of acquisition in the SMSF’s name
  • Asset must be used by a related party (correct)

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