A desktop valuation report for a property held inside your SMSF, prepared for the annual accounts and the audit. Residential is $245, commercial is $550, both including GST, and both are delivered by email within 48 hours. The report meets the ATO's valuation guidelines and SISR reg 8.02B.
$245including GST, one financial year
$550including GST, one financial year
Retrospective effective dates are available at the same price. The fee does not change with the value of the property.
| Report | One financial year | Three financial years |
|---|---|---|
| Residential | $245 | $550 |
| Commercial, industrial or rural | $550 | $1,200 |
All prices include GST. The three year option covers this year's report plus an updated report at each of the next two 30 June dates, at one price, so the fund is covered for three audits rather than one.
Same day to 48 hours by email, and most reports go out the same business day. What we need is the property address, the effective date you want the valuation prepared as at, and the rent if it is leased. Anything else, a recent contract, a lease, photographs of a renovation, helps but is not required.
The effective date matters more than the order date. For the annual accounts that date is 30 June of the year being audited. A report dated when you happened to order it is the most common reason one comes back from an auditor.
SISR reg 8.02B requires fund assets to be reported at market value in the financial statements each year. The ATO's valuation guidelines then set what evidence supports that value, and the standard is objective and supportable data rather than a trustee's own estimate.
A desktop report from an independent valuer meets that standard. A rates notice, an online estimate or a real estate agent's appraisal generally does not, which is why they come back as an audit query.
Reports are prepared by Mike Wilczynski, Chartered Accountant, Certified Property Valuer certified by the Australian Valuers Institute, and Registered Tax Agent TPB 17532009.
Two minutes to lodge, and the report comes back by email within 48 hours. You will need the property address and the effective date.
Yes. SISR reg 8.02B requires market value, and the ATO's guidelines require the value to be supported by objective and supportable evidence. A desktop report from an independent valuer, with comparable sales and a methodology statement, meets that. A full internal inspection is not required for the annual accounts.
For the annual accounts, 30 June of the financial year being audited. If you are ordering after year end, that is a retrospective date and it costs the same. Tell us the date you need rather than accepting the date you happen to order on.
The fund's assets have to be reported at market value every year. Whether that needs a fresh report each year depends on the asset and on your auditor, and it is the reason the three year option exists: one price, one report now, and an updated report at each of the next two 30 June dates.
Yes, in both reports. It matters most where the property is leased to a related party, because that is the document showing the rent is on arm's length terms, which is a separate compliance question the auditor looks at alongside the value.
No. It is a fixed fee for the report, $245 residential and $550 commercial, whatever the property is worth. See what a property valuation costs for why that is the right way round.
Yes. Tell us what the fund actually holds when you order, because the report needs to value the right thing: the property, or the units, depending on the structure.
