Tax time is here now!
If you are someone who owns an asset within your Self Managed Super Fund (SMSF), now is the time to ensure your SMSF responsibilities to the ATO are met. One such requirement is reporting the value of the property by way of an independent valuation report completed by a registered property valuer.
SMSF management includes reporting on annual financial accounts, which includes the value of a property if held within that superfund. It must be completed by a registered valuer, and cannot be provided by a real estate agent.
It is essential to seek this advice from a trusted valuer who is both experienced in the asset type you own, as well as one who takes the time to understand how best to assist you with your SMSF tax liabilities.
When assessing a property for SMSF compliance, we look at many factors including:
- Market movement and volatility
- Risk factors
- Comparable sales of similar properties
- The income expected or produced by a commercial property, and
- The individual factors of the property such as construction, age, etc
All valuations completed at Vanguard Valuations are compliant with the most up-to-date tax advice, market commentary, and all follow a code of ethics and the International Valuation Standards (IVS).
Vanguard Valuations completes dozens of these reports on a weekly basis and we pride ourselves on our ability to provide sound property advice that is compliant with SMSF regulations and requirements. We cover all asset types including residential, commercial, industrial, retail, medical, child care, rural, and many more, and are able to complete this work for you in an efficient and transparent manner.
If you require a valuation to comply with the requirements of your SMSF, please call us today or use our contact form to discuss. You will always speak with a registered valuer, and we pride ourselves on our competitive rates and efficient turnaround times.