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Each year, trustees of self-managed super funds (SMSFs) must value the fund's assets at their 'market value.' Before you submit your SMSF annual return (SAR), your fund's SMSF auditor must verify that the assets are valued correctly. They will also assess and document whether the valuation basis is appropriate.As an SMSF trustee, you have a legal obligation to value and report each asset’s market value every single year. The ATO is checking data to identify SMSFs reporting th

For business owners operating out of leased commercial spaces, Australia’s solid rental market has meant that rent is becoming unaffordable in the current economic environment. Many business owners with self-managed super funds (SMSFs) are opting to purchase commercial property inside their SMSF and lease it to their business — while this doesn’t provide the business with cheap rent, what it does do is allow the business to claim a tax deduction for the rent expense while th