Superannuation & Financial - SMSF
McLean Gladstone provides independent, certified financial reporting property valuations across South Australia—delivering AASB 13 and IFRS-compliant fair value assessments, including SMSF and corporate valuations, to support accurate, audit-ready financial statements.
McLean Gladstone provides precise property valuation services for financial reporting purposes across South Australia. Our independent property valuer team ensures your financial statements accurately reflect the fair market value of your assets, adhering to stringent accounting and regulatory standards.
Compliance with Accounting Standards and Corporate Governance: We specialise in valuations compliant with Australian Accounting Standards Board (AASB) Standard AASB 13 (Fair Value Measurement) and International Financial Reporting Standards (IFRS). Our reports help ensure financial statements are "true and fair" in accordance with the Corporations Act 2001 and ASIC guidelines, which recommend impartial valuers and up-to-date methods for each specific asset class. "Fair Value" is defined as "The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date". This commitment supports accurate financial reporting and transparent corporate governance.
SMSF Property Valuations: A Key Component of Financial Reporting For Self-Managed Super Funds (SMSFs), SMSF property valuation is a critical area for financial reporting valuation. SMSF trustees have strict compliance requirements to value all fund assets, including residential property valuation and commercial property valuation, at market value annually (every financial year) when preparing financial statements as at 30 June.
Meeting Auditor Requirements for Annual Valuations: SMSF auditors are becoming stricter and are increasingly scrutinising valuations, often requiring valuation annually. They must obtain sufficient evidence to support the valuations as part of their audit, and the ATO has actively contacted SMSFs and auditors to remind them of their obligations, particularly regarding assets reported at the same value for consecutive years. Trustees must value all fund assets at market value annually when preparing financial statements as at 30 June each year. This valuation must be based on objective and supportable data and determined using a 'fair and reasonable' process that considers all relevant factors and is capable of explanation to a third party.
While a formal external SMSF property valuation report may not be required every single year, updated valuation evidence, including formal independent valuations, must be obtained at least once every SMSF property valuation 3 years, or whenever a material change in value is expected due to market conditions or major renovations. For significant or complex assets, or transactions involving related parties, the ATO strongly recommends using a qualified independent valuer to ensure unbiased assessments.
To assist SMSF trustees in meeting these ongoing compliance requirements, McLean Gladstone offers a tailored solution. We can provide an initial comprehensive valuation and follow this with a fixed-price annual valuation package to help make this cost more palatable. This ensures you consistently meet your auditor's requirements for objective and supportable data each financial year, providing peace of mind and helping to avoid administrative penalties for non-compliance. Speak to us today to learn more about our flexible fee structure.
Key Requirements for SMSF Valuations:
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Annual Market Value Assessment: All fund assets, including residential property valuation and commercial property valuation, must be valued at market value annually for financial statements as at 30 June.
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Objective & Supportable Data: Valuations must be based on objective and supportable data, considering all relevant factors. This includes comparable sales analysis for residential properties and often a capitalisation of income method for commercial properties.
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Independent Valuers: The ATO recommends using a qualified independent valuer for significant or complex assets, or for transactions involving related parties, to ensure unbiased assessments.
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Written Reports & Documentation: All SMSF property valuation documentation must be in writing from a qualified professional, detailing the methodology, calculations, and data sources. Thorough documentation is crucial for compliance and auditor verification.
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Auditor Scrutiny: SMSF auditors play a vital role in verifying asset market values. Non-compliance can lead to administrative penalties.
Beyond SMSF: Corporate & Advisory Financial Reporting: Our commercial property valuer and real estate valuer teams also provide financial reporting valuations for various organizations, including both listed and non-listed entities. Our directors and senior valuers are often engaged at a board level to provide advice and guidance regarding a company's property holdings, strategic planning, and general consultancy for companies with multiple stakeholders.
Why Choose McLean Gladstone for Financial Reporting Valuations? As a registered property valuer and local property valuer in Adelaide and across South Australia, we provide accurate, defensible valuation of property reports. Our expertise ensures compliance with all smsf property valuation guidelines and broader financial reporting standards, giving you peace of mind.
Whether you require a commercial valuation SA or residential valuation South Australia for your financial reporting obligations, contact McLean Gladstone, your trusted property valuer near you, for expert advice and reliable property valuation services.
