Investments in Collectables
Clients of ESUPERFUND are permitted to invest in Collectables. Collectables are defined as:
- artwork (a painting, sculpture, drawing, engraving or photograph; a reproduction of such a thing; or property of a similar description or use);
- coins or medallions;
- postage stamps or first day covers;
- rare folios, manuscripts or books;
- recreational boats;
- memberships of sporting or social clubs.
Collectable Investments have onerous rules including that the Investment cannot be stored in the private residence of the Member or an associate of the Member and the asset
(other than a membership of a sporting or social club) must be insured in the name of the SMSF within 7 days of the asset being acquired.
This added level of complexity makes investing in Collectables complicated and we recommend that a Tax Ruling is sought from the ATO prior to investing in this Asset Class.