Gearitup - correct. I just made the point that A) no advisory would recommended such a strategy of 100% in one company, and B) one has to meet the 'sole purpose test' as detailed in the SIS legislation.
Trading is deemed to be running a business and under ATO rules would be taxed as such. The SIS rules prevent one from running a business in a SMSF. Thus if so deemed by the ATO to be running a trading business it would most likely be in breech of the SIS rules.
To sum up, investing 100% in one company is fine, albeit very high risk. Doing same and trading in and out of said company or other companies on a frequent basis is as risk of being denied SMSF status and having to pay back the tax breaks, IMO.
At the end of the day this is a complex area and I do not attempt to give advice - but to raise the Q so advice can be sought from others who are professionally qualified to do so.
Maybe best to transfer this discussion to the Superannuation thread, as I don't wish to bore folks that are not interested in superannuation and tax etc?
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