There are rules about what you can and can’t do with your SMSF investments.
The rules not only relate to the actual nature of the investments but also who you buy them from.
Many of the rules particularly relate to transactions you might enter into with “related parties”. The best way to think about who might be a “related party” of your SMSF is to assume that your relatives, your spouse’s relatives, other members of the SMSF and any companies or trusts that these people control, will be a related party. There are exceptions but this very broad definition is a good place to start.