Superannuation Fund Property Valuations

Self-managed super funds are private superannuation funds that you can manage yourself. When you operate a self managed super fund you will need to get the fund’s assets valued periodically. Assets need to be valued to comply with government superannuation fund legislation for the purposes of: Acquiring assets between SMSFs or related parties; Assessing the value of assets that qualify for transitional capital gains tax relief; Determining the market value of the asset; Determining the value of current or new retirement income streams; Disposing of assets; Establishing the market value of assets; Preparing the financial records of the fund.

A self managed super fund trustee needs to send their annual financial statements and the valuation report to their accountant who will send it onto the Australian Tax Office at the end of the financial year so they can calculate your tax obligations.

Your accountant however can only supply full details of your financial affairs if they know what your assets and liabilities are. Knowing your assets and liabilities means that the SMSF’s tax obligations can be correctly assessed.

This is why an SMSF property valuation is important. It will be based on the current market value of the property and is required by the Australian Tax Office. Before the SMSF’s auditor hands over financial information to the Australian Tax office they will need the property to be valued by an independent valuer who will do so without bias. After they have received the property valuation they will then send it to the Australian Tax Office.

How does the valuer assess a property’s current market value?

NT Valuers will first assign the most suitable valuer for your project and will then arrange a time for the valuer to come and inspect your property. This typically occurs within a couple of business days of you getting in touch with us. The inspection will take approximately 15-30 minutes and the valuer will review the number of rooms, the number of bedrooms, the number of bathrooms, the condition and age of the property and whether or not there have been substantial renovations.

Why choose NT Valuers for your SMSF valuation?

NT Valuers has over 20 years of independent valuation experience and we are registered with the Australian Property Institute (API). Each of our valuers comes armed with at least 15 years of professional property valuation experience and they are Certified Practising Valuers (CPVs) who value a diverse selection of property types including: Commercial real estate; Industrial property like factories, medical centres, warehouses etc; Offices; Retail stores; Showrooms.

NT Valuers property valuers are also available to answer any questions you may have during the property valuation process so give us a call on (08) 8911 1505 and we’ll be happy to assist.