Section 66 of Superannuation Industry (Supervision) Act 1993 (SISA) prohibits the acquisition of assets from related parties.  However the following transactions are exceptions to this rule:

The 5% rule

Provided that the asset is acquired at market value and that the value of the in-house asset is less than 5% (refer to Section 66 2A of SISA).  Should the market value ratio exceed 5% then refer to Section 82 of SISA.

Listed securities

Provided that the securities are exchanged at market value - Section 66 (2A), SISA.  This exemption will be withdrawn as of 1 July 2012.

Business real property

Acquiring business real property form a related entity at market value is also specifically excluded Section 66 (2) (b), SISA.

Superannuation fund mergers

S 66 (2) (c) provides an exemption where the asset acquired is done under a merger between regulated superannuation funds.

Where the Australian Taxation Office (ATO) provides a written determination allowing the acquisition

S 66 (2) (d) provides an exemption when the Regulator being the ATO for SMSF determines that an asset may be acquired.

In the event of a marriage (relationship) breakdown

S 66 (2B) b, provides an exemption where the asset acquired from a related party is as a result of separated spouses and that there is no likelihood of cohabitation being resumed.