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SMSF Property Valuer

SMSF Property Valuations for Accountants: Annual Review Check

Every fund reports its property at market value each year. That does not mean a new external valuation every year. The ATO accepts a previous independent valuation supported by current evidence, until it becomes materially inaccurate or the value changes significantly. SIS Reg 8.02B sets the market-value reporting; neither the law nor the ATO sets a fixed interval.

So the useful question for a firm is which properties need a new figure this year. The check below sorts a client book into three: roll forward with current evidence, a valuer-signed desktop assessment, or an on-site valuation.

Check your client book
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Add properties one at a time, or import them from a CSV. Nothing you enter leaves your browser.

Since that valuation, or this year:

General information about which level of valuation a fund's situation usually calls for. Nothing you enter is sent or stored. It is not a valuation, or tax, legal or financial advice, and the fund's auditor decides what evidence is sufficient.

When a property needs more than last year’s figure
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This is what the check works out.

  • On-site valuation, as at the date of the event (from $759): the fund bought from or sold to a related party, transferred the property in specie, is winding up, or a pension commenced.
  • On-site valuation (from $759): the auditor queried last year’s value; the property was renovated, extended or damaged; or it is leased to a related party.
  • Desktop assessment (from $329): no independent valuation is on file (an agent’s appraisal is a marketing estimate); the lease changed or there is a new tenant; or local values moved sharply.
  • Otherwise, roll forward last year’s independent valuation, with current evidence kept on the fund’s file: recent comparable sales, the lease and the rent, and the rates notice.

All prices include GST. Vacant land, rural and acreage properties are quoted for the property. A desktop assessment is signed by a qualified valuer but involves no inspection. See SMSF property valuation for accounts and audit for what the auditor looks for.

Working with us across a client book
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  • One relationship for every fund. Registered firms submit properties in batches from a CSV template, each with the firm’s own reference. Register your firm to receive it, and see the partner program for accountants.
  • What the auditor receives. An independent report signed by a qualified valuer, prepared to be audit-ready under SIS Reg 8.02B, with the comparable sales, the method, and the valuer’s signature and date.
  • Coverage. Our valuer panel is being built state by state, so a valuer may not yet be available for a property. We tell you before you proceed, not after, and your fixed price is confirmed before any work begins.
Does an SMSF need a new valuation every year?
No. Funds report assets at market value each year, but 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.
Does the ATO require a qualified independent valuer?
Not for the fund’s yearly accounts. It asks for a value from a fair and reasonable process, based on objective and supportable data. A valuer-signed desktop assessment meets that comfortably. For a related-party transaction, a transfer in specie, a wind-up or a pension commencement, an on-site valuation is the stronger evidence.
Is a figure from years ago still usable?
It can be, if current evidence still supports it and nothing that moves the value has changed. The auditor decides whether the evidence is sufficient; the older the valuation, the more current evidence that takes.
Does the check send our client data anywhere?
No. It runs in your browser, and the list is gone when you close the tab. A CSV you import is read on your computer and never uploaded.
Is this advice?
No. It is general information about which level of valuation a fund’s situation usually calls for. It is not a valuation, or tax, legal or financial advice, and the fund’s auditor decides what evidence is sufficient.