(SMSF) Self Managed Super Funds
Sydney Property Valuations offer SMSF valuations and up to date yearly residential property portfolio valuations for self managed residential property based superannuation funds required by the Australian Taxation office and your accountant.
In recent years there has been a significant increase in the number of self managed super funds, Sydney Property Valuations frequently receive requests for self managed superannuation funds.
Benefits of Market Value Financial Reporting
By using market value reporting, self managed superannuation funds will ensure that members benefits, as reported in the annual statements will reflect all market value movements of the reporting period.
This consistent accounting approach by all superannuation funds will assist trustees with the investment decisions of the fund by allowing for the comparison of financial statements from subsequent periods and with other superannuation funds. it will also assist trustees to determine whether the mix of investments in the fund is in accordance with their investment strategy.
Market value reporting will also allow trustees to easily determine the resources that the fund has available for payment of benefits.
Who can Determine the Market Value of an Asset?
It is not intended that obtaining a market valuation should be onerous or expensive for the trustee.
The use of a qualified real estate valuer through Sydney Property Valuations should be considered where the value of the asset represents a significant proportion of the fund’s value or where the nature of the asset indicates that the valuation is likely to be complex or difficult.
When to Conduct Valuations
For the purpose of financial reporting, valuations should be conducted at the funds reporting date on an annual basis, which in most cases will be 30th of June.
Please contact us and fill out the request form for your next SMSF valuation