Disclaimer

General information only

The guides, examples and tools on this website explain how the assets held by self managed super funds are usually valued and what the ATO's guidance says about evidence. They are general information only. They do not take your circumstances into account, and they are not legal, taxation, investment or financial product advice. Which method suits a particular holding depends on the entity and on why the valuation is needed, and it is settled in the engagement for each matter.

This disclaimer applies to everything published on this website by Valuation Group Pty Ltd, trading as SMSF Valuations, and forms part of our terms of use.

Do you give financial or investment advice?

No. We value assets. We do not hold an Australian financial services licence, and nothing we publish or say is financial product advice or a recommendation to set up a fund, buy, hold, sell, contribute, roll over or start a pension. ASIC states that a person who wants to run a financial services business generally needs to be authorised under an Australian financial services licence.

Whether a fund needs a valuation, and at what date, is a question for the trustees and their accountant, auditor, tax adviser or lawyer, who can take the fund's circumstances into account.

Who may rely on a valuation report?

A report is prepared for the purpose, the valuation date and the interest stated in it, and for the trustees, the accountant and the auditor of the fund. It may be relied on only for that stated purpose and by those people. Nobody else may rely on it, and it may not be used for another purpose, without our written consent.

Is the fund check a valuation?

No. The fund check is general information drawn from ATO guidance, based on five answers. It never gives a dollar value, it is not advice, and it never says that a fund does not need a valuation: ask your auditor what evidence they will expect. Any fee it shows is indicative until we have confirmed the scope with you.

Your answers are stored only if you ask for the summary by email, and the privacy policy explains how they are handled.

What is a valuation, and what is it not?

A valuation is an independent opinion of value, at a stated valuation date, for a stated purpose, of a stated interest, based on the information supplied and the assumptions set out in the report. Change any of those and the conclusion can change. We do not promise that an auditor, the ATO, a court or any other party will accept a valuation.

The interest matters as much as the figure. A holding of units or shares is not always worth its proportion of the net assets or the whole business. Whether a discount for a minority holding or limited marketability applies depends on the trust deed or constitution and the facts, and the report sets out the reasoning. How we value explains the steps.

What information does a valuation rely on?

A valuation relies on financial statements, registers, deeds, contracts and explanations supplied by the entity, the trustees and their advisers. Unless the engagement letter says otherwise, we do not audit or independently verify that material, and a valuation is not an audit, a due diligence review or a fraud investigation.

We do test what we receive for consistency, and the report states what we relied on. Before the final report is signed, the client signs a representation letter confirming the information supplied.

Do you value property?

Not directly. Where a trust or company owns property, we value the units or shares. The property figure comes from a valuation by a registered or certified property valuer, and we never sign a property figure ourselves. Property held directly by your fund: we are not taking direct property valuations yet. If a trust or company owns the property, we value the units or shares using a property valuation you already hold.

Can a report be used in court?

No. A report prepared for commercial purposes is not a court expert report. Court or tribunal work is a separate engagement with its own scope and fee, and any expert report must meet the rules of the court or tribunal concerned. Nothing limits compliance with a legal disclosure obligation, a subpoena or a court order.

Examples and the sample report

Examples on this website are labelled as illustrative, and the excerpt on our sample report page is labelled as fictional. Their figures are invented to show method. They are not drawn from client matters, and they are not evidence of the value of any entity, asset or transaction.

References to law, tax and ATO guidance

Where we refer to legislation, tax rules, ATO guidance or reports of them, we do so in general terms as at the date shown on the page. Rules change and their application depends on the facts. Check the current source, and speak to your adviser, before you act.

Links to other websites

Links are provided so you can read the original source. We do not control those websites, and a link is not an endorsement.

Liability

Nothing in this disclaimer excludes, restricts or modifies any right or remedy under the Australian Consumer Law that cannot lawfully be excluded, restricted or modified. Subject to that, and to the extent the law allows, we are not liable for loss arising from reliance on the general information on this website. The limits that apply to a valuation are set out in the engagement letter for that matter.

Questions about this disclaimer can go to hello@smsfvaluations.au or 0433 475 518 (Mon to Fri, 9am to 5:30pm AEST). See also our privacy policy.