Frequently asked questions

Most frequent questions asked and answered

HOW LONG DOES IT TAKE TO GET MY REPORT?

Reports can take up to 48 hours, however in most cases reports are completed and delivered same or next business day.

HOW DO I GET MY REPORT ONCE I PAY?

Your report will be emailed to you in pdf form. Please make sure to use a valid and correctly entered email address when ordering. If you discover you have made a mistake, please contact us with your order number.

WHAT PAYMENT OPTIONS DO YOU TAKE?

We currently accept VISA, Mastercard, Amercian Express and Discover. Credit and Debit cards are accepted.

WHERE ARE YOU LOCATED?

We are located in Adelaide, South Australia. We are Australian owned and operated!

WHEN IS A PROPERTY VALUATION REQUIRED FOR A SMSF FINANCIAL STATEMENT?

SMSF managers need to prepare annual financial accounts and statements, and these accounts must include the market value of any property asset in a SMSF. A valuation provides objective and supportable data that can be used by the auditor of the SMSF to sign off on the financial statements.

WHAT IS THE MARKET VALUE OF AN ASSET?

“Market value” means the amount that a willing buyer of the asset could reasonably be expected to pay to acquire the asset from a willing seller if the following assumptions were made:

The buyer and the seller dealt with each other at arm’s length in relation to the sale
The sale occurred after proper marketing of the asset, and
The buyer and the seller acted knowledgeably and prudentially in relation to the sale.

HOW DO I GO ABOUT DETERMINING MARKET VALUE?

For assets such as cash, term deposits, widely-held managed funds, ETFs and listed securities, these can be valued easily each year and should be valued at the end of each financial year. It is typically easy for trustees to value shares, managed funds and other listed investments because they can obtain daily valuations online. For assets such as properties, we can do the valuation for you.

DO I NEED TO GET A PROPERTY VALUER TO DO THE VALUATION?

No, a professional, independent valuation provides objective data that can be used by the SMSF auditor to sign off on the financial statements. Valuation of real estate can be undertaken, as long as it is based on objective and supportable data.

IS THE RENT AT COMMERCIAL TERMS?

The fund’s auditor may also request evidence to show the rental income received by the fund is paid on commercial terms, such as:

Annual Rental Income & Expenses Schedule from your real estate management agent covering the lease of the property during the year.
Lease agreement organised via a real estate agent or other written lease agreement
Rental appraisal by a property valuer – we can do this.
Supporting evidence such as For Rent listing or tenants notice to end contract and an explanation from the trustees if no rental income was received during the year