Due to our buoyant property market, there is likely to be pressure on SMSF trustees to revalue properties for the 30 June 2021 (FY21) year, even if they were valued as of 30 June 2020 (FY20). Auditors will be seeking confirmation of property values - read more here.

If the property is rented through a real estate agent, then in most cases it will be as simple as requesting an updated appraisal from them.  For properties that are rented to related parties, normally only permitted for commercial property, this can be a little trickier. In relation to renting to related parties, we posted an update early during the pandemic on this topic, which is still very relevant in determining rental values.

We have a few options for reasonable valuations and/or the full valuation exercise - just drop us a line at info@primarius.net.au 

Disclaimer: This information is general in nature, and you should examine your situation carefully as the legislation or further information becomes available. So, before acting on this or any other information, it is important to seek professional advice related directly to you and your circumstances.  Should you require our assistance, contact your Primarius Team leader, or email us at info@primarius.net.au