BGL integrates with Acumentis to simplify SMSF property valuations

BGL's managing director, Ron Lesh, said the integration will provide BGL’s Simple Fund 360 and Simple Invest 360 clients with access to compliant SMSF property valuations and tax depreciation schedules for a wide range of property types, including residential, commercial and agribusiness.

“Acumentis’ registered valuers are equipped to deliver cost-effective valuation and assessment reports with their extensive expertise, local and asset-specific knowledge and invaluable market insights,” he said.

Acumentis SMSF assessments are completed using methodology and data to ensure ATO compliance, providing clients with the information and confidence required for SMSF reporting.

Nathan King, national director – advisory at Acumentis, said SMSF trustees and administrators struggle with gaining access to relevant market data to substantiate the market value of SMSF property assets which often leads to auditor queries or valuation reworks.

An Acumentis SMSF property assessment provides an audit-compliant market value in a cost-effective and timely manner.

He said the integration means that BGL clients can now order a fixed-price commercial or residential property assessment online and receive an ATO-compliant property assessment within five working days.

Mr Lesh added that under the ATO’s Valuation Guidelines, there is a limited range of professionals who can provide valuations. With the rapidly changing property market, obtaining an independent property valuation ensures trustees, SMSF professionals and auditors have a correct valuation of SMSF assets and that the valuation is based on objective and supportable data.