SMSF Property Asset Valuations
Our expert team can assist with valuations for commercial & residential property assets in a self-managed super fund (SMSF).
Taxation
Opteon provides valuations for capital gains tax, stamp duty, GST margin scheme reconciliation & ATO compliant tax depreciation schedules.
Advisory
You may require pre-sale or pre-purchase property valuations, rental review & lease consultancy & other specialist property advisory services.
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When is a property valuation required for a SMSF financial statement?
If you have property assets in a SMSF, or are advising clients who do, you may be required to schedule regular independent valuations of the property from a qualified valuer. Opteon provides valuation services for all property types, including commercial, industrial, retail, residential, agribusiness and rural, and unique real estate assets.
SMSF managers must prepare annual financial accounts and statements. For the purposes of these accounts, property in a SMSF must include the market value of the asset. A valuation provides objective and supportable data that can be used by the auditor of the SMSF to sign off on the financial statements. With over 500 valuers across Australia, Opteon can provide a valuation, prepared by a fully qualified professional who specialises in your specific market. The market value is determined in accordance with the International Valuation Standards and API (Australian Property Institute) Standards.
How often do you need a property valuation for a SMSF?
Superannuation advisors recommend a full valuation of any property asset in a SMSF every three years. In most instances, for the two years in between, Opteon can conduct an AMA (Analysed Market Assessment) to determine the property’s value and provide a written report. Click here to read more about the SMSF ValPack.
A property valuation will assist you to comply with the SMSF rules and Australian Tax Office (ATO) guidelines. You may require the services of a valuer if a property asset represents a significant proportion of your fund, or if the property is a complex asset which requires more detailed analysis.
A valuation may also be required where the value may have materially changed, or an event has occurred which could impact the value of the property. This may include a shift in property market conditions or a natural disaster. Changes to your personal circumstances, such as commencing a pension, may also necessitate an updated valuation.
Disclaimer: Opteon does not provide accounting, specialist tax or financial advice. Opteon’s valuers are qualified, experienced and certified to provide market value valuations of your property.
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