Investing in Collectables & Personal Use Assets
Many people choose to invest their SMSF in collectibles and personal use assets. Examples of collectables and personal use assets include:
For more information, visit the ATO's webpage on Collectables & Personal Use Assets
Important SMSF Rules & Regulations
Such SMSF investments must be made for genuine retirement purposes, no to provide any present-day benefit. For instance, if you invest your SMSF into a piece of art, it must not be put on display in your house, as that is considered a present-day benefit. View the ATO's webpage on Display or Storage.
Furthermore, the law states that anything you have purchased in the name of the superfund must be insured and it must be insured in the name of the superfund. Such items cannot be insured under your contents insurance - it has to be a separate policy in the name of your superfund. View the ATO's webpage on SMSF Insurance.
What does Quantum offer?
Quantum Underwriting Agencies provides insurance for self-managed superannuation funds in the form of purchased assets, including, but not limited to:
We can provide cover in:
Top Tip: From an insurance perspective, it may more cost-effective to store your purchased assets in a bank vault or safety deposit box, rather than at home. Storing such items at home will most likely be more costly.
For more information about our SMSF insurance, please view or download the following: