Warning on SMSF asset valuations
Welcome to Smart Private Wealth • Learning Centre • Insights
Welcome to Smart Private Wealth • Learning Centre • Insights
ATO data analysis has revealed that over 16,500 self managed
superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of these assets
residential or commercial Australian property, you can forgive the ATO for being incredulous.
For trustees of SMSFs, where asset values are consistently reported at the same value, it’s likely your SMSF will be
flagged for closer scrutiny by the ATO.
The value of assets in your SMSF impacts on member balances and by default, can impact the amount you can contribute, ability to segregate
assets for exempt current pension income, the work test exemption and access to catch-up concessional contributions. And, as we move closer
to the implementation of the Division 296 $3m superannuation tax, valuations will be very important for anyone with a member balance close
to or in excess of $3m.
If the asset is an in-house asset, for example a related unit trust, then an accurate valuation is essential to ensure the fund remains
within the 5% in-house asset limit. If the value of in-house assets rises above 5% of total assets, the asset/s need to be sold to bring the
limit back below 5%.
Unlock seamless SMSF lending solutions with our expert financial advisers.
ALL DAY CONFERENCE @ Mornington Racecourse
6 May 2025 - 8:30am - 5:30pm
In today’s fast-changing world, staying competitive means embracing new trends and technologies. At B.I.T.E.
Conference 2025, you'll discover groundbreaking strategies and tools—like A.I. and robotic process automation—designed to
help you navigate and succeed in the evolving business landscape.
Aged care financial planning is a highly specialised area that requires not only financial expertise but also an understanding of the
emotional challenges families face. In this episode of The Accountant That Builds, host Shannon Smit sits down with Aged Care Financial
Advice specialists to unpack the complexities of aged care funding.
In today’s fast-paced world, productivity has become a paramount concern for professionals and business owners alike. We constantly strive to optimise our workflows, eliminate inefficiencies, and maximise the value we derive from every minute of our day. One of the key steps in achieving this is recognising the habits and tasks that drain our productivity and replacing them with more effective strategies.