In this guide
One of the advantages of having your own self-managed super fund (SMSF) is that you can invest in alternative assets, like art and other collectables within your fund.
That doesn’t mean you can buy an original Brett Whiteley for your living room wall or a case of Penfolds Grange for your cellar with SMSF funds.
As with everything to do with super, there are strict rules governing collectable investments, from what they are to how they are stored and valued.
What are collectables and personal use assets?
Collectables and personal use assets include any of the following:
- Artwork (such as paintings and sculptures)
- Jewellery
- Antiques
- Cultural or historical artefacts
- Motor vehicles and motorcycles
- Recreational boats
- Memberships of sporting clubs or social clubs
- Coins, medallions and bank notes, if their market value exceeds their face value
- Rare books, manuscripts and folios
- Memorabilia
- Wine or spirits
- Postage stamps and first-day covers.
According to the latest figures from the Australian Taxation Office (ATO), at the end of June 2025, SMSFs held a total of $633 million in collectables and personal use assets. This represents less than 0.1% of total SMSF assets of $1.01 trillion.
A decline in the total value of collectables held in SMSFs, evident for several years, continued into the 2025 financial year, probably due to the rules and restrictions that apply to this particular asset class.
On 30 June 2024, the total value of all collectables held in all SMSFs was just over $645 million, which was down from the $710 million on 30 June 2023.
What are the rules around SMSFs investing in collectables and personal use assets?
You can invest in collectables and personal assets if your SMSF trust deed and investment strategy allow it. Further to that, collectables and personal use assets must not:
- Provide any present-day benefit for SMSF members or related parties. In other words, they cannot be used by SMSF members or related parties. Instead, these types of investments must be for the benefit of members in their retirement (or to pass on to their dependents or beneficiaries when they die). This ensures that they comply with the sole purpose test on which the Australian superannuation system is based
- Be leased to an SMSF member or a related party
- Be stored or displayed in the private residence of an SMSF member or related party. The decision on where these items are stored must be documented and kept as a record.
Say, for example, your SMSF owns a painting. You could lease it out to a gallery, provided the gallery is not owned by a related party and the lease is on arm’s length terms. Or if your SMSF owns a vintage car, you or a related party can’t drive it even for maintenance or restoration work, but a non-related party could.
In addition, collectable and personal use assets must:
- Be insured in the SMSF trustees’ name(s) within seven days of being acquired
- Be valued at market value when preparing your fund’s annual accounts and financial statements
- Be valued by an independent expert if transferred or sold to a member of your SMSF or a related party.
Important
Check your SMSF trust deed for any fund specific rules, restrictions or requirements that may apply to collectables and personal use assets.
Not all trust deeds are worded the same way, and some deeds may be more restrictive than others.
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