Art and Self Managed Superfunds (SMSFs)
Holding artworks can provide you with capital growth and rental income in your SMSF, however, there are several new laws to be aware of. These may change in the coming months and any new legislation will be updated here.
The definition of an artwork includes paintings, sculptures, drawings and photographs. Collectables include jewellery, antiques, artefacts, coins, bank notes, postage stamps, books, memorabilia, wines, cars, recreational boats, memberships to sporting and social clubs. A.N.G. Art Consulting offers bespoke valuations for artwork only.
The following rules apply to artworks and collectables held in your SMSF from 1 July 2011. If your SMSF artworks were acquired before 30 June 2011, then these rules must be adhered to by 1 July 2016: