About SMSF valuations
What is an SMSF valuation?
An SMSF valuation is a market value for an asset a self managed super fund holds, worked out from objective and supportable evidence. Trustees report each asset at market value at 30 June. A private company or unit trust usually needs more than its accounts to show that value.
Does an SMSF valuation have to be done by an independent valuer?
Not always. The ATO says trustees must value assets at market value using objective and supportable evidence, and the law requires a qualified independent valuer only in limited cases, such as collectables and personal use assets disposed of to a related party. The ATO recommends one when an asset is a large part of the fund or hard to value, which is common with private companies and unit trusts.
How often do SMSF assets need to be valued?
Each asset is reported at market value at 30 June. An independent valuation does not have to be redone every year, but the trustees need to assess and document that it is still appropriate. SMSF Adviser reports the ATO naming valuing only every three years as an outdated practice.
Are the company or trust accounts enough evidence?
Often not. The ATO says signed, audited statements that carry assets at cost are unlikely to be enough on their own for an unlisted share or unit. For those holdings the ATO points to the value of the entity's assets and the consideration paid, such as an independent valuation of the assets or the most recent arm's length sale of a share or unit.
Who values the assets, the trustees or the auditor?
The trustees. The auditor does not value the assets: the auditor checks the valuation, may ask for documents and can seek an independent valuation as part of the audit. Under regulation 8.02B of the Superannuation Industry (Supervision) Regulations, the auditor must check that sufficient appropriate evidence supports the market value reported for each fund asset.
Why has the ATO been writing to SMSFs about valuations?
As SMSF Adviser reported, the ATO identified more than 16,000 SMSFs that reported assets such as property and unlisted trusts at the same value for three consecutive years, and contacted them in March and April 2024. The ATO's own initial evaluation, in its key messages of 8 July 2025, found around 63% of funds changed property valuations and 45% changed unlisted trust investment valuations after its market valuation letter campaign. (SMSF Adviser reported 80% and 48% in March 2025.)
Do you give advice on what to do with my fund?
No. We value assets. We do not provide legal, taxation, investment or financial product advice, and we never advise on whether to set up a fund, buy, hold, sell, contribute, roll over or start a pension. Those decisions belong to the trustees and their advisers.
Fees and timing
How much does an SMSF valuation cost?
Investment entity: $995 + GST. Trading business with turnover under $2 million: $1,495 + GST. Turnover $2 million to $10 million: $2,495 + GST. Turnover over $10 million: $3,495 + GST. We confirm the fee in writing before we start. No hourly billing. See pricing for the add-ons and what is not included.
How long does an SMSF valuation take?
An investment entity takes 2 business days, a smaller trading business 2 business days and an established one 3 business days. A larger or complex business is agreed before we start. Delivery time starts once payment and all required information have been received.
What is the annual 30 June update?
If we valued an entity last year and it has not restructured or changed in a major way, we roll our valuation forward to this 30 June. Annual update: $495 + GST per entity, with the report in 2 business days. Delivery time starts once payment and all required information have been received.
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Process and documents
How do I send you documents?
Documents come only through the private upload link on your matter, never by email and never through this website. We can sign a confidentiality undertaking before sensitive documents are shared.
What does the valuation report contain?
The market value at the valuation date, the method and why it suits the holding, the entity's assets and liabilities and how each was valued, the evidence relied on, the assumptions and limits, and a statement that the valuer is independent of the fund. The sample report walks through each section.
Will my auditor accept the report?
The auditor decides what evidence is sufficient, and we cannot speak for any auditor. We build the report to be used as audit evidence, with the method, evidence and assumptions set out. Auditors can read more on the page for accountants and auditors.
What is the representation letter?
Before the final report, the client signs a representation letter confirming the information supplied. The report lists the information it relied on, and the letter confirms it.
Property and family law
Can you value property held directly by my fund?
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. The property figure comes from a valuation by a registered or certified property valuer, and we never sign a property figure ourselves.
How do I get an SMSF interest valued for a family law matter?
SMSF interests in a property settlement are prepared through our dedicated family law practice, Family Law Valuations. Settlement Valuation: $1,495 + GST for a business with annual turnover under $2 million, or $2,495 + GST. Expert Report: $4,495 + GST. See which report you need.
Can the 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 fee.