"Stronger Super" Reforms

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Date: 01/08/2011

Investing collectibles and personal use assets into super has just got a whole lot harder - so beware!

The new rules on investing incollectibles and personal use assets into self managed super funds are prohibitative and may well discourage such investors in the coming years. That's the view of a new committee which has been looking specifically at SMSFs in the light of the Cooper Report. The Self Managed Super Fund Committee will hand their recommendations to the Peak Body reporting to Government on the implementation of the Jeremy Cooper's recommendations. Committee member Anna Carrabs of William Buck highlights the focus of the SMSF Committee's discussions, including the new rules on collectibles, the registration of auditors, off-market transfers between related parties, the valuation of fund assets and the independence of auditors.