Superannuation Fund Property Valuations
Self-managed superannuation fund trustees must periodically prepare financial reports. This report needs to include information about the fund’s assets such as the value of property if it forms part of the value of the SMSF.
What property information do I need to include in the SMSF report?
When managing an SMSF, the following information should be kept: The acquisition of assets; The value of any assets in the SMSF; The market value of the account balance.
The values must be prepared by a qualified independent valuer. Even if real estate is not included in the SMSF fund then it is recommended that you get the assets valued by an independent valuer to confirm their market value. An independent valuation can aid in the calculation of your tax obligations.
Is it compulsory to get your assets valued?
It is a legal requirement that you get any assets held in an SMSF valued so that the correct rate of tax can be calculated based on the net capital gains, interest, dividends or any rental payments received.
It is stipulated that a valuation for SMSF purposes must be completed by a: Registered valuer; Professional valuation service provider; Member of a professional valuation organisation; Valuer who has specific knowledge or qualifications in the valuation field.
Regular valuations can also help trustees develop and review their investment strategy for the funds held in the SMSF.
Why choose Valuations ACT?
Valuations ACT only hires property valuers with at least 20 years of industry experience. Our experts are Certified Practising Valuers (CPVs) accredited by the Australian Property Institute (API) and many also hold AVI and RICS qualifications. They regularly attend training and development programs to stay current with industry standards. Committed to professionalism and independence, our valuers leverage their deep local market knowledge and thorough research of comparable property data to deliver accurate, impartial valuations tailored to your needs.
Our Valuers work to a tight schedule and aim to finalise inspections within 48 hours of your initial communication. The report should then be completed within 3-5 business days.
Valuations ACT has a strong reputation and is one of the preferred property valuation companies in Canberra. Our valuations are sworn documents that can be used in legal settings and are accepted by government organisations.
We can value the broad spectrum of properties including commercial properties like offices, retail spaces, factory units, warehouses, medical centres and other businesses.
Get in touch with us on (02) 6189 2232 to book your inspection.