Any asset or property that is held in a self-managed super fund will need to be valued periodically for taxation purposes. The super fund trustee has an obligation to get the assets held in the SMSF valued each year. They need the assets or properties valued annually so that they can include the figures in their annual financial statements. Undoubtedly the SMSF trustee will send the valuation report to your accountant who will then send it onto the Australian Tax Office at the end of the financial year.
Your accountant can only prepare an accurate report if they know the value of all the assets in the SMSF.
That is where a property valuation comes in. A property valuation will show the current market value of the property. The Australian Tax Office prefers assets to be valued independently and without bias before the SMSF auditor will approve the financial statements.
How does the valuer assess the property’s market value?
The first step to getting your property valued is to get in touch with Valuations TAS. We will then find out the purpose of your valuation and assign the most appropriate valuer to come and inspect your property. In most cases the inspection will only take between 15 and 30 minutes at the most. After visiting your property, the property valuer will research the local property market and review the last six months of data. The valuer will then write a report which will be anywhere from 13-15 pages.
Why choose us for your SMSF valuation?
Valuations TAS are professional and independent property valuers. We are registered with the Australian Property Institute (API) and all our Valuers bring with them at least 15 years of professional valuation experience. They are Certified Practising Valuers and value properties across a range of areas including, but not limited to: Commercial property;Industrial property including factory units, medical centres and warehouses etc;Offices;Showrooms;Retail stores.
When our property Valuers prepare your valuation report, they will also offer you advice and answer any questions you have about how to maximise your investment and the tax implications.
Our Valuers have limited spots available so to secure your inspection spot give us a call on (03) 6169 2559.