Restricted assessment (desktop) — when it fits
- Most residential properties and uncomplicated commercial assets
- Uses recent comparable sales, sales history and other market data
- No physical inspection; efficient turnaround and lower cost
- Clear conclusion to help trustees determine market price at the valuation date, consistent with a willing buyer/willing seller test.
Formal property valuation report — when to step up
- Formal independent valuations are required for complex/specialised commercial or rural assets, limited local evidence, or heavy fund weighting
- Includes method selection (valuation method), comparable sales analysis, assumptions and relevant factors
Prepared by a qualified independent valuer with documented independence and credentials - Provides a defensible, determined property value to satisfy annual SMSF audit requirements