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.