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The Rise of Self-Managed Super Funds & SMSF Valuations By Romeo Property Valuers

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The Rise of Self-Managed Super Funds & SMSF Valuations By Romeo Property Valuers

September 23
01:00 2022
Thanks to its thorough knowledge of the property market in New South Wales, the team at Romeo Property Valuers pride themselves on providing comprehensive property analysis.

A valuation of assets is required to confirm one’s SMSF has complied with relevant super law for:

–  preparing the financial accounts and statements of the fund
–  acquiring assets between SMSFs and related parties
–  investments made and maintained on an arm’s-length basis
–  disposing of certain collectables and personal use assets to a related party of the fund
–  determining the market value of an SMSF’s in-house assets as a percentage of all assets in the fund
–  determining the value of assets that support a member’s super pension
–  determining the value of existing retirement income streams at 1 July 2017 as they will be counted towards the transfer balance cap
–  determining the value of new retirement income streams on or after 1 July 2017, when they will be counted towards the transfer balance cap
–  determining the market value of assets that are eligible for transitional capital gains tax (CGT) relief
–  determining the market value of assets supporting members’ retirement phase and accumulation accounts for the purposes of calculating the members’ total superannuation balances.

While there are certainly many valuers claiming to offer topnotch service, Romeo Property Valuers PTY LTD certainly stands head and shoulders above the rest. 

Turnaround Time

Romeo Property Valuers turnaround time is from a minimum of 24-72 hours after an inspection has taken place. An urgent turnaround time can be requested and provided if necessary. With Vincent and his competent team of valuers, he/they are available any day convenient for the occupier(s) to carry out an inspection on the subject property.

Valuation Reports

Clients can expect the company’s valuations to be:

–  Replicable – In effect, this means the valuation will be documented and explained well enough that another person or valuer can clearly understand how the value was determined.
–  Absolutely be undertaken by a suitably qualified and experienced valuer.
–  Objectively demonstrate the valuation process undertaken in accordance with valuation industry practices.

Clients can also expect the following information to be included in a valuation report or to appear clearly in the working papers:

–  Description of asset
–  Purpose and context of valuation
–  Date of valuation
–  Method or methods used
–  Specific value
–  Information and assumptions relied on
–  Material risks
–  Explanation of material differences
–  Expert reports and the use of experts (where provided)
–  Terms of engagement
–  Relationship between valuer and client
–  Working papers (annexes)
–  Disclaimers and indemnities
–  Valuer’s details

Accreditation and Qualifications

For the purpose of introduction, Vincent is qualified as a certified property valuer without limitations and an admitted solicitor.

These qualifications have enabled him a position on the Board of the Australian Valuers Institute, a professional governing body for valuers in Australia where he has been a sitting director for the past four years.

To learn more about Romeo Property Valuers, please visit www.romeopropertyvaluers.com.au

Media Contact
Company Name: Romeo Property Valuers PTY LTD
Contact Person: Vincent
Email: Send Email
Phone: 02 9002 7347
Address:Suite 413, 49 Queens Road
City: Five Dock
State: NSW 2046
Country: Australia
Website: http://www.romeopropertyvaluers.com.au