SMSF Restricted Residential Property Assessment

For a Restricted Property Assessment for Commercial Property, click here.

What is this?

Law Central is working in connection with Acumentis, a national property valuation and property consultancy firm, to provide Law Central clients with a valuation service for residential property owned by an SMSF which is valued at $1.5 million or less.

What do you get?

A completed report will be emailed to you once the assessment is complete. This report will contain market value, market rent, property photos, supporting data and sales evidence.

Timing?

An assessment is normally completed within two working days from receiving compliant and complete information required to do the assessment. Acumentis will endeavour to process the assessment within this timeframe. However, it is best practice for Acumentis to assign the most appropriate valuers, to deliver the best outcome for you. If the appropriate valuer isn’t available, our timeframes will vary from the stated 2 working days.

What is a SMSF restricted property assessment?

It is a desktop assessment completed by qualified valuation professionals who have access to real time sales and leasing data to ensure an accurate and timely review. The assessment assists the trustee in ascribing the market value of the SMSF asset based on objective and supportable data utilising the appropriate methodology.

Why is an assessment required?

All SMSF’s are required to provide a market value of assets held in their fund. In accordance with ATO requirements SMSF’s are audited on an annual basis. As such, it is best practice to ensure that you are relying on current and relevant information to assist.

How often is an assessment required?

The market value of an asset is required to be reported by the trustee on an annual basis.

Disclaimer

All work involved in performing the Acumentis SMSF Restricted Residential Property Assessment and the subsequent written report will be completed by Acumentis only.

Law Central is not in any way connected with the Assessment or subsequent written report provided by Acumentis.

Law Central disclaims and denies all liability arising from the Acumentis SMSF Restricted Residential Property Assessment and the subsequent written report and any liability arising from relying on the written report from Acumentis.

Checklist is not available for this document.

Sample is not available for this document.

Property State
• My property is not in one of these states
Property Value
• What if my property value turns out to be more?

Property State

• My property is not in one of these states

  At the moment, the SMSF Restricted Residential Property Assessment service is only available in the states listed.
  
  

  This hint is provided by Acumentis.

  ---

  #

Property Value

• What if my property value turns out to be more?

  The SMSF Restricted Residential Property Assessment is for residential properties up to the value of $1.5 million. If it is more than this amount, additional fees may apply. Acumentis will contact you prior to proceeding if this is the case.

  This hint is provided by Acumentis.

  ---

  #

This document has been prepared by Acumentis