Insights for SMSF trustees, accountants and auditors
How a valuer works out the market value of private company shares, unit trusts and business interests in a self managed super fund, and what the ATO expects as evidence.
Annual valuations
- The ATO's SMSF valuation guidelines, explainedThe ATO's guide to valuing SMSF assets, section by section: what market value means, when an independent valuer is needed, and the evidence the ATO lists for shares, units, property and pensions.
- The 30 June SMSF valuation checklistA practical checklist for trustees and accountants to work through each 30 June, by asset type, drawn from the ATO's guide to valuing SMSF assets: what to gather, what to record and what to give the auditor.
Unit trusts
Private companies
Audit
- The ATO campaign on unchanged SMSF values: what it means for trusteesAs reported, the ATO found more than 16,000 SMSFs with unchanged asset values and contacted them and their auditors. Here is what was reported, what it means for auditors and what trustees can do before 30 June.
- What SMSF auditors check in a valuationAn approved SMSF auditor checks that each asset is reported at market value and that sufficient appropriate evidence supports it. This guide explains the checks, what the evidence looks like and how a valuation report fits in.
Tax and super rules
Short answers to common valuation questions
Need one question answered rather than a full guide? Each answer gives the short version first and links to the guide behind it.
- Does my SMSF need an independent valuation?Usually no. The ATO says trustees are not required to use a qualified independent valuer for the fund's accounts and statements. The law requires one...
- How do you value units in an SMSF unit trust?Value the trust's assets and liabilities at market value, then work out what the fund's units are worth under the trust deed. The ATO says to...
- How often do SMSF assets need to be valued?Every year. SMSF trustees must value fund assets at market value for the accounts and statements, as at 30 June. The ATO has named valuing only every...
- How much does an SMSF valuation cost?An SMSF valuation has a fixed fee set by what the fund holds. Investment entity: $995 + GST. Trading business, by annual turnover: $1,495 + GST...
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