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15d In-house assets

Last updated 29 March 2021

Did the SMSF hold any in-house assets on 30 June 2018?

No

Print X in the No box at A. Go to 15e Limited recourse borrowing arrangements.

Yes

Read on.

  • Print X in the Yes box at A.
  • Write at A the total value of the in-house assets on 30 June 2018.
  • Make sure that any amount you include at A are also included at A to T in 15a, 15b and 15c. Do not include at A any related party investments that are not in-house assets.

Identifying in-house assets

Generally, an in-house asset of an SMSF is an asset that is:

  • a loan to a related party of the SMSF
  • an investment in a related party of the SMSF
  • an investment in a related trust of the SMSF, or
  • subject to a lease or lease arrangement between the trustee of the SMSF and a related party of the SMSF.

Some in-house asset exceptions do exist, such as a lease or lease agreement, between the SMSF and a related party of the SMSF involving business real property. There is also a limited exception for certain investments in related non-geared unit trusts and companies.

For more information on what is an in-house asset see:

  • Part 8 of the Superannuation Industry (Supervision) Act 1993
  • Self-Managed Superannuation Funds Ruling SMSFR 2009/4 Self Managed Superannuation Funds: the meaning of ‘asset’, ‘loan’, ‘investment in’, ‘lease’ and ‘lease arrangement’ in the definition of an ‘in-house asset’ in the Superannuation Industry (Supervision) Act 1993.

QC55254