SMSF Commercial Property Assessment

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 SMSF property assessment service for commercial property owned by an SMSF which is valued at $2.5 million or less, and has 2 or less tenants.

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 practise 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.

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 have 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 Commercial 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.

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

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Sample is not available for this document.

Property State
• My property is not in one of these states
Description of Improvements
• Examples of description of improvements

Property State

• My property is not in one of these states

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

  This hint is provided by Law Central Legal.

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Description of Improvements

• Examples of description of improvements

  1. 2 level semi modern building providing ground floor retail and first floor office accommodation,
  
  2. Metal deck industrial warehouse providing container height roller door access, concrete sealed hardstand
  
  3. Strata titled office suit located in a complex of 10
  

  This hint is provided by Law Central Legal.

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This document has been prepared by the law practice Law Central Legal