On 21 December 2012, the Government released for public consultation draft legislation relating to acquisitions and disposals of certain assets between self-managed superannuation funds (SMSFs) and related parties.

The amendments are designed to implement the Government’s Stronger Super reforms relating to acquisitions and disposals of certain assets by SMSFs and related parties. The superannuation law is proposed to be amended so that acquisitions and disposals of assets between related parties and SMSFs must be conducted through an underlying market where one exists, or where one does not exist, must be supported by a valuation from a suitably qualified independent valuer.

COMMENTS are due by 16 January 2013.