Who this is for
- SMSF trustees preparing annual financial statements
- Accountants and SMSF administrators
- Auditors who need supportable evidence of value
- Funds buying, selling or transferring property
What you get
- Current market value of the property at a stated date
- Sales evidence used to support the valuation
- Description of the land, improvements and location
- A written report signed by a Certified Practising Valuer
- Kerbside or full inspection, depending on your needs
Why SMSF property needs a market value
If your self-managed super fund holds property, the trustees must value that asset at market value when preparing the fund's annual financial statements. Your auditor then needs to be satisfied the value is reasonable.
The ATO does not require a qualified valuer to value SMSF property every year. What it does expect is that the value is based on objective and supportable data. For many funds, that is where an independent valuation helps.
An independent valuation is often sensible when:
- the property makes up a large share of the fund's assets
- there has been a significant event, such as major damage, a renovation or a sharp market movement
- the fund is buying, selling or transferring the property, especially with a related party
- your auditor has asked for independent evidence of value
These are general points only. Rules and auditor expectations can differ from fund to fund, so confirm what you need with your auditor or accountant before you order. The guide How often does SMSF property need a valuation? covers the question in more detail.
Choosing the right valuation type
Most residential SMSF valuations are done as a kerbside valuation. The property is inspected from the outside, without anyone needing to be home. It is contactless, which suits tenanted properties, and it is commonly used for SMSF reporting. Kerbside valuations start from $500 + GST.
A full inspection valuation includes an internal inspection. It can be the better choice if the property has been renovated, has unusual features, or your auditor wants an internal inspection. Full inspection residential valuations also start from $500 + GST.
Commercial and industrial property held in a fund, such as a business premises leased back to a related entity, needs a commercial valuation. These are long-form reports from $975 + GST with a 7-day turnaround. See commercial and industrial valuations.
If you are unsure, the guide to desktop, kerbside and full inspection valuations explains the differences. Current rates are on the pricing page.
What happens after you enquire
- Talk it through. You speak directly with Tom Nagy. Tell him about the property, the fund and what your auditor needs.
- Confirm the scope. Together you settle on kerbside, full inspection or commercial, and the valuation date.
- Inspection. Tom inspects the property as agreed. For a kerbside valuation, tenants do not need to be disturbed.
- Report. You receive a written report stating the market value, supported by sales evidence and a description of the property.
If the property was fully inspected by Tom before, ask about discounted rates for an update.
Why an independent Certified Practising Valuer
An agent's appraisal or an online estimate is not the same as a formal valuation. A report from a Certified Practising Valuer is prepared independently, is based on market evidence, and is signed by a valuer who is accountable to professional standards.
Tom Nagy is a CPV registered with the Australian Property Institute, with more than 30 years in real estate and property valuation. His reports are accepted by the ATO, the courts, the State Revenue Office and professional bodies. Because he works as a sole practitioner, you deal with the valuer from first call to final report, and prices stay competitive.
Call 0407 835 388 to discuss your fund's property, or request a quote.
Common questions
Do I need a qualified valuer every year for my SMSF property?
Not necessarily. Trustees must value fund assets at market value each year, and the ATO does not require a qualified valuer every year. The valuation must be based on objective and supportable data. Many trustees use an independent valuer when the property is a large share of the fund or something significant has changed. Your auditor or accountant can tell you what they need for your fund.
Is a kerbside valuation enough for SMSF reporting?
Often, yes. A kerbside valuation involves an external inspection and is commonly used for SMSF reporting. If the property has changed a lot inside, has been renovated, or your auditor wants an internal inspection, a full inspection valuation may suit better. Check with your auditor, then call Tom to confirm which type fits.
What counts as a significant event for an SMSF property?
Examples could include major damage, a large renovation, a change in zoning, a big shift in the local market, or the fund buying, selling or transferring the property. These are general examples only. Your accountant or auditor is the right person to say whether an event in your situation calls for a fresh independent valuation.
Can you value commercial property held in my SMSF?
Yes. Commercial and industrial property held in a super fund can be valued for SMSF reporting. These valuations are full reports starting from $975 + GST with a 7-day turnaround. Desktop valuations are not offered for commercial or industrial property, so an inspection is always part of the process.
Who do I deal with when I order the valuation?
You speak directly with Tom Nagy, the valuer who prepares your report. There is no office administration layer. That means you can ask questions before you book, make sure you are ordering the right valuation, and talk to the person who inspected the property if your auditor has questions later.
Helpful guides
Desktop, kerbside or full inspection: which valuation do you need?
The three main types of residential valuation compared: what each involves, what it costs and when each one makes sense.
Does your SMSF property need a valuation every year?
Your SMSF must report property at market value each year, but that does not always mean a new certified valuation. Here is how it generally works.