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.