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Collectables create storage, insurance and use restrictions.
Collectables and personal use assets can create ownership, storage, insurance, valuation, use and disposal requirements that need more than a simple asset description.
At a glance
Physical assets need a clear custody position.
Asset
Ownership
Storage
Insurance
Valuation
Condition
Use restrictions
Disposal
The fund should be able to demonstrate where the asset is, how it is protected and how it is valued.
Operating position
What sits behind a collectable.
01
Ownership position
Keep acquisition, ownership and identifying details visible.
02
Storage position
Record where and how the asset is stored.
03
Insurance position
Keep policy, insured value and renewal details connected.
04
Valuation position
Record valuation date, method, source and supporting evidence.
Evidence position
Keep custody and valuation evidence together.
Physical assets need documentation that supports ownership, location, insurance, condition and value.
Purchase records
Ownership evidence
Storage records
Insurance policies
Valuation reports
Condition and disposal records
Attention points
Collectables have specific operating restrictions.
Storage, personal use, insurance and valuation should remain visible enough to prompt review.
01
Personal use
The asset should not become available for personal enjoyment or use.
02
Storage
The location and storage arrangement should remain documented.
03
Insurance
Coverage and insured value should remain current and visible.
04
Valuation
Specialist valuation may be needed because there is no simple market price.
How SMSF Home helps
Keep the physical asset position visible.
01
Asset register
Keep identifying, acquisition and ownership information together.
02
Storage record
Record custody and location details clearly.
03
Insurance prompts
Surface policy and renewal information.
04
Valuation history
Keep valuation dates, reports and disposal context attached.
Bring the physical asset home
Keep ownership, storage, insurance and valuation evidence visible.
Home Helper™ source and review record
Primary guidance sources
This educational summary is not a substitute for the current law, regulator guidance or advice based on the fund's circumstances. Use the primary sources below to check the rule and later changes.
- ATO - Investment strategy (opens in a new tab)
Source checked 2026-08-21
- ATO - What are the SMSF investment restrictions? (opens in a new tab)
Source checked 2026-08-21
- ATO - Valuation guidelines for self-managed super funds (opens in a new tab)
Source checked 2026-08-21
Resource version 1.0.0 / Content reviewed 2026-08-21