A range of checklists designed to help trustees manage their SMSF Valuation guidelines for self-managed super funds · Self-managed super. SMSFs are not for everyone and you should think carefully before deciding to set one up. It is a major financial decision and you need to have. These instructions will help you complete the Self-managed superannuation fund annual return (SMSF annual return). However, they are.

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Valuation guidelines for self-managed superannuation funds | Australian Taxation Office

Listed securities For the end of financial year reporting of listed securities, for example, listed shares and managed units, use the closing price on each listed security’s approved stock exchange or licensed market at 30 June as the market value of the security. This evidence would include documentation of the valuation method used.

However, an external valuation of an asset such as real property may be prudent if you expect the valuation is now materially inaccurate or a significant event has occurred since it was last valued. We will generally accept your determination of an asset’s value, as long as: The maximum amount of capital that can be transferred into the tax-free retirement phase of super. To find out how to get a publication referred to in these instructions and for information about our other services, see Publications, Tax Determinations and Rulings.

However, these transfers should be made at an arm’s length price that is based on objective and supportable data. It has 11 sections, each described below. Consider the use of a qualified independent valuer if either: Real property For preparing SMSF financial reports, an external valuation of real property is not required each year.

The assets should be valued as at the date of the transaction. Read this guide in conjunction with: Generally, funds must keep all relevant records for at least five years, but this period may be longer in certain circumstances. An asset must be valued at its market guife.

Yuide trustees and investment managers are prohibited from intentionally acquiring assets from related parties. Where there has been a significant event that affects the value of an asset, and you are; preparing SMSF financial accounts and statements, determining the value of the assets that support a pension or valuing assets for the in-house asset test, you should undertake a new guiee of that asset or use a valuation undertaken after the significant event occurred.


On the other hand, assets such as cash, widely held managed funds and listed securities can be valued easily each year and should be valued at the end of each financial year. Publications and services To find out how to get a publication referred to in these instructions and for information about our other services, see Publications, Tax Determinations and Rulings.

This guide helps self-managed superannuation fund trustees when valuing assets for superannuation purposes. When valuing real property assets for SMSF financial reports, the valuation may be undertaken by anyone as long as it is based on objective and supportable data.

Smf may mean the asset is held and recorded in the financial reports and statements at a nil or nominal amount. For more information about privacy, the huide we collect and how it may be used, see the ABR privacy statement External Link. Based on objective and supportable data Determining market values of assets that are eligible for transitional CGT relief.

Your super smsd must lodge a Self-managed superannuation fund annual return if it was:.

When valuing an unlisted security for example, a share in a private company, or a unit in an unlisted trust, we expect you to take into account a number of gjide that may affect its value, including both the:.

The purchase and sale price of assets should always reflect a true market rate of return.

Where authorised by law to do so, we may give the information in the tax return to other government agencies, including assistance agencies such as the Department of Human Services, regulatory bodies such as the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority, law enforcement agencies and the Australian Bureau of Statistics.

Income tax calculation statement: Where the nature of the asset indicates that the valuation is likely to be complex, the use of an external valuer should also be considered. This does not mean that you need to do an external valuation for all assets each year.


We also provide taxpayer information to treaty partners overseas under international tax agreements with many other countries.

SMSF checklists

These agencies may use ABR information for purposes authorised by their legislation or for carrying out other functions of their agency.

Collectables and personal use assets A collectable or personal use asset is an investment in: Disposals of real property to a related party of the SMSF must be conducted at arm’s length. Complete this section if the SMSF has assessable income to report.

Market value It is the amount that a willing buyer of the asset could reasonably be expected pay to acquire the asset from a willing seller if all the following assumptions were made — that the: Other information Complete this section if the SMSF has made or is making a family trust election or an interposed entity election.

When valuing real property, relevant factors and considerations may include: This may be due to a change in market conditions or a natural disaster. In addition, some classes of assets must be valued and reported in a specific way. Checklist for obtaining valuations Specific requirements for asset classes.

It is unlikely that an asset with no known value or potential for capital or income growth would be considered a prudent investment to support members’ retirement goals.

Fund income tax return instructions | Australian Taxation Office

A collectable guids personal use asset is an investment gujde Permitted assets must be acquired at market value. Valuation guidelines for self-managed superannuation funds This guide is designed to help you as a self-managed superannuation fund SMSF trustee when valuing assets for super purposes. Depending on the situation, a valuation may be undertaken by a: Read the instructions for each question to find out: Terms we use Our approach If you follow this guide we will generally accept the valuation provided.