Self-Managed Superannuation Funds (SMSF)

SMSF assets that fall under the Collectables and Personal Use Asset category are required to be insured and stored in an endorsed, independent, and secure facility with regular audits as per the SIS Regulation 13.18AA.

This includes items such as investment diamonds, coins, banknotes, precious metals, and collectables. As all self-managed super funds are managed by members or trustees for their own benefit, they are solely responsible for complying with Australian SMSF tax laws.

Eliminating Costly Storage and Insurance Fees

The recent modifications implemented by the Australian Taxation Office (ATO) concerning the classification of Argyle-certified pink diamonds have significantly enhanced their appeal for Self-Managed Super Fund (SMSF) investors. These changes present a viable investment opportunity that circumvents the exorbitant costs typically associated with the storage and insurance requirements of a traditional SMSF tangible asset.

ATO Classification Change

The Australian Taxation Office (ATO) has officially classified Argyle certified pink diamonds as a Self-Managed Super Fund (SMSF) investment asset when they are held in loose form. This classification is significant as it distinguishes these diamonds from other collectible or personal use assets under Australian superannuation legislation. As a result, this unique status means that Argyle certified pink diamonds are exempt from the ongoing expensive storage and insurance costs typically associated with most other tangible assets within a SMSF.

Comparison with Other Tangible Assets

In contrast to Argyle certified pink diamonds, other tangible assets held within a Self-Managed Super Fund (SMSF), including gold and silver coins, artwork, antiques, jewellery, rare stamps and coins, vintage cars, and wine, are governed by strict storage and insurance regulations. Often mandating placement in expensive specialised vaults or managed custodian services.