The partnership will provide efficient Self-Managed Super Fund (SMSF) property assessments, giving SMSF trustees a reliable solution for accurate reporting of their property assets' market value, in compliance with their legal obligations.
As the COVID-19 pandemic continues to impact property values, it is required that SMSF trustees obtain an updated external valuation for their assets in case of a "significant event" to meet Australian Taxation Office (ATO) guidelines. Auditors are now recommending the use of qualified valuers to ensure compliance, and the partnership between Acumentis and Reliance Auditing Services will provide a streamlined and cost-effective solution.
Nathan King, National Director Advisoryat Acumentis, stated, "This partnership addresses some of the most common hurdles trustees face in obtaining advice on the market value of their SMSF assets. The partnership enables clients to easily order a property assessment online, complete a digital form, and receive an ATO compliant property assessment within four working days."
With a long-standing relationship between the two companies, Acumentis has been a preferred partner recommended by Reliance to accountants and self-managed super fund trustees for property valuations. The new partnership aims to provide SMSF trustees with market value estimates for their commercial, residential, and rural properties, allowing them to comply with annual SMSF reporting requirements.
Considering the rapidly changing property values in the current market environment, particularly in the residential and commercial sectors, an assessment of property assets undertaken by an independent and appropriately qualified licensed property valuer can reduce the likelihood of ATO contestation or queries on the valuation.
Naz Randeria, Managing Director at Reliance Auditing Services, expressed her excitement about the new partnership, stating, "We look forward to working with Acumentis to provide our clients with a streamlined and compliant solution for their SMSF property assessments." With Acumentis' national network of over 300 property professionals, SMSF trustees can rest assured that they are receiving a reliable and efficient service to assist with reporting on property assets.
If you require an assessment for your SMSF property assets complete the online form now or contact one of the specialists at Acumentis.
Acumentis Group Limited published this content on 27 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2023 00:10:04 UTC.
Acumentis Group Limited is an Australia-based independent property valuation company. The Company provides commercial and residential valuations, research, and property advice to various homeowners, investors, developers, and lenders. It offers property valuation, insurance valuation, and advisory services to clients, including banks and financial institutions, property developers, property trusts, government, lawyers, accountants, real estate agents and independent retailers. Its services include quantity surveying, acquisition and compensation, capital gains tax, family law and legal, fund forecasts, illicit substance screening, insurance valuation, litigation and legal advisory services, property buyersâ agencies, self-managed super fund (SMSF) property valuation, stamp duty assessments, tax depreciation schedules and tenant representation. The Company serves property classes such as residential, commercial, rural, agribusiness and government portfolios.
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