From www.smsfadviser.com: Accurate asset valuations are essential for compliant SMSF management, ensuring that members understand their retirement savings and maintaining regulatory compliance.

The ATO mandates that all assets be valued at market value as of 30 June each year, and trustees are responsible for these valuations, although professional assistance may be required in certain situations.

Comprehensive documentation supporting valuations is crucial, as outdated or informal estimates can lead to regulatory breaches and tax consequences.