Carey Group Quarterly Newsletter
Valuing Fund Assets for SMSF
Each year, SMSF trustees are responsible for valuing their fund’s assets at market value.
This valuation reflects the price a willing buyer and seller would agree upon in an arms-length transaction and is essential for preparing the fund’s accounts, statements, and annual return (SAR).
Before lodging the SAR, an approved SMSF auditor will review these valuations during the annual audit, assessing if the valuations are accurate and appropriate based on the asset type. While the auditor verifies valuations, they do not perform them; it’s up to the SMSF trustee to provide clear, objective evidence of the asset values. Having valuations ready, with all supporting documents, ensures a smooth audit process and helps avoid delays, potential late lodgement, or compliance issues.
If you have any questions in relation to this article, please contact our team on 07 4760 5900 or info@careygroup.com.au
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