A self managed super fund has to report its property at market value every year, and the auditor has to be satisfied the value is based on objective and supportable data. A trustee estimate carries a fund only so far; after a strong market move, a related-party transaction or an in-specie contribution, the auditor will want an independent valuation with method and evidence they can put on file.
Evidence your auditor can put on file.
These reports are built for exactly that reader. The evidence is set out, the method is stated, and the figure is one the fund can defend to its auditor and, if it comes to it, to the regulator.
- Rests on
- Market evidence and method your auditor can file
- Accepted by
- Fund auditors and the ATO
- Have ready
- The fund name, the last valuation if any, and lease details for the property
- Turnaround
- 5 to 8 working days from inspection; urgent timeframes by arrangement