Address by Alison Lendon, Deputy Commissioner Superannuation, ATO 2013 SPAA SMSF National Conference, Friday 15 February http://www.ato.gov.au/corporate/content.aspx?doc=/content/00346600.htm "The most common topics we are asked about for specific advice are: working through the scenarios regarding acquisition of business real property from related parties and confirming the interpretation of business real property understanding the conditions relating to investing in related unit trusts so that they are excluded from the in-house asset tests following the release of the ruling for limited recourse borrowing arrangements (LRBAs) last year, we received enquiries about what's an improvement or a repair, the acquisition of assets from related parties and low interest loans for LRBAs we've also seen an increase in requests about collectable and personal use assets since the regulations were introduced, especially around storage and insurance and gold bullion." Must be a lot of requests for her to mention gold specifically.
Hopefully they were asking for some clarification as to what form gold could be stored in. The current face value requirement is not helpful.
