That ban is now proposed after 1st July 2013. This is just one of many traps for SMSF trustees contemplating an in-specie investment. Great care is needed with acquisitions from members or related parties, to avoid breaching the Superannuation Industry (Supervision) (SIS) rules. A serious breach could result in severe penalties - even the SMSF could become non-complying. Normally a super fund cannot acquire assets from a related party. This restriction applies regardless of whether the asset is purchased or is an in-specie contribution. There are exceptions to this rule, which your advisers can discuss with you, as well as considering whether the investment should stay outside superannuation.
19th-November-2012 | 