Value of the asset represents a significant proportion of the funds value.
Superannuation advisors recommend every 3 years your asset should be valued.
In need of an up to date report reflecting market value movements for the period.
In receiving an independent property valuation, members of Self Managed Super Funds will receive an up to date report on the market value of their property.
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 in determining whether the mix of investments in the fund is by their investment strategy. Market value reporting will also allow trustees to quickly determine the resources the fund has available for payment benefits.
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.
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 the 30th of June.
Please contact us and fill out the request form for your next SMSF