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. It is not a comprehensive handbook about valuations.
This guide does not take away your responsibility to manage investments prudently. You must ensure the fund’s investment strategy is reviewed regularly and takes into account the retirement goals of its members.
Seek advice and assistance from a professional if you are unsure of your obligations and responsibilities.
Read this guide in conjunction with:
o Market valuation for tax purposes
o Taxation ruling TR 2010/1External LinkIncome tax: superannuation contributions – this ruling includes the Commissioner’s view on when a super provider acquires beneficial or legal ownership of an asset.
End of further information
This guide replaces Superannuation Circular 2003/1.
For definitions of key terms, see Terms we use.
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Our approach
If you follow this guide we will generally accept the valuation provided.
We may review a valuation as part of our compliance processes. As part of this review you may be asked to provide evidence of the valuation method that has been used to allow us to decide whether to accept the valuation or not. This evidence would include documentation of the valuation method used.
We will generally accept your determination of an asset’s value, as long as:
o it does not conflict with this guide or Market valuation for tax purposes
o there is no evidence that a different value was used for the corresponding capital gains tax event
o it was based on objective and supportable data.
If we conclude that the most appropriate valuation method has not been used for any of the assets, it will not be accepted and the most appropriate valuation method will be applied to determine an amended value.
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