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SMSF Property Valuer

SMSF Property Valuation for Accounts & Audit

Every year, your self-managed super fund’s property has to carry a market value in the fund’s books — and that value has to survive the annual audit. This page explains why the annual market value is needed for the accounts, member reporting and the audit, and what makes the evidence audit-ready rather than just a number.

The obligation is ongoing, not one-off. Under SIS Regulation 8.02B, an SMSF must report each asset at market value in the fund’s financial statements every financial year. (Note: the 1 July 2027 capital gains tax change applies to individuals — it does not apply to SMSFs. Your fund’s duty is this annual market-value one, unchanged.)

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Why the accounts need a market value each year
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Three things in an SMSF lean on the property’s market value:

  • The financial statements. SIS Reg 8.02B requires fund assets to be reported at market value each financial year, so the balance sheet reflects what the fund actually holds.
  • Member balances and reporting. Each member’s balance — and caps and pension calculations that depend on it — is only as accurate as the asset values behind it.
  • Pension and transfer events. Starting a pension, a member exiting, a related-party dealing or a wind-up are all done at market value, so a current, supportable figure protects everyone involved.

Why the audit needs supportable evidence
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Every SMSF is audited annually by an independent approved SMSF auditor. Property is usually a material asset, so auditors test the value closely. The ATO’s guidance is that trustees must use objective and supportable data — not a guess or a round number. The ATO recommends an independent valuation where the property is a significant share of the fund or hard to value, and one is the strongest evidence in pension phase or a related-party transaction.

If the evidence is weak, the auditor can qualify the audit report, and must lodge an Auditor Contravention Report with the ATO where the reporting criteria are met — outcomes trustees would rather avoid. Strong, current, independent evidence is the prevention.

What makes evidence audit-ready
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Auditors look for three things, and a signed valuation packages all three:

  • Objective, supportable data — comparable sales and market evidence, not opinion.
  • A clear methodology — how the valuer reached the figure, and as at what date.
  • Independence from the trustees — the value comes from a qualified valuer, not the people who benefit from it.

A signed independent valuation is the strongest single piece of evidence — but it is not the only method the ATO accepts. Trustees may value property themselves using objective, supportable data; the point is that the evidence, not the label, has to stand up. Where property is material or scrutinised, the independent signed report is the cleanest way to make it audit-ready.

How often, and when to refresh
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Fund assets must be reported at market value every financial year. An external valuation isn’t required every year: a previous independent valuation can support later years alongside current evidence, until it becomes materially inaccurate or the value changes significantly, for example after a renovation, a market move or an event like starting a pension. For a fuller treatment of timing, see our guide to how often SMSF property must be valued. When you’re ready, see how to order and the cost breakdown.

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No payment is taken — we reply with a fixed quote for your property. By submitting you agree to be contacted about your request.

We use your details to prepare your quote, to contact you about it, and to arrange and deliver your valuation. If you engage us, we also create and keep a long-term record of the property's documents and condition as at 30 June 2027, so that you, your accountant, or a valuer you appoint can use it when the property is eventually sold. We keep property information after your personal details are removed, to improve our valuation reference data. We do not sell your personal information. Your details are handled by our email provider, Brevo, which stores data in the EU. See our Privacy Policy; you can ask us to delete your details at any time.

Our valuer panel is being built state by state, so a valuer may not yet be available for your property — we tell you before you proceed, not after.

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Common questions
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Why does my SMSF need a property valuation for its accounts?
SIS Regulation 8.02B requires an SMSF to report each asset at market value in the fund’s financial statements every financial year, so the accounts reflect what the fund actually holds. An independent signed valuation supports that figure.
Does the audit really require a valuation?
The audit requires supportable evidence of market value. The ATO expects objective, supportable data, and the ATO recommends a qualified independent valuation where the property is a significant share of the fund or hard to value; in pension phase or a related-party dealing one is the strongest evidence. It’s the cleanest evidence for the auditor.
What makes a valuation audit-ready?
Three things: objective, supportable data (comparable sales, not opinion); a clear methodology and valuation date; and independence from the trustees. A signed valuation from a qualified valuer packages all three.
Can trustees value the property themselves?
ATO guidance allows trustee valuations based on objective and supportable data, so it is one accepted method — but auditors often treat property as material and must lodge a contravention report where weak evidence means a reportable contravention. An independent signed valuation is the safest route where property is a large share of fund assets.
How often does SMSF property need valuing?
Every financial year for market-value reporting under SIS Reg 8.02B. An external valuation isn’t required every year: the ATO accepts a previous independent valuation supported by current evidence, until it becomes materially inaccurate or the value changes significantly. Confirm expectations with your auditor.
What happens if the auditor isn't satisfied with our value?
The auditor can qualify the audit report, and must lodge an Auditor Contravention Report with the ATO where the reporting criteria are met. Current, independent, supportable evidence is the way to prevent that.

General information only — not financial, SMSF or tax advice. Confirm valuation timing and audit requirements with your fund’s accountant or approved SMSF auditor. Any indicative appraisal is automated and not a certified valuation; the signed valuation is provided separately.