Title Search
The ATO now requires a Title Search on each property that an SMSF owns and should be conducted on an Annual basis.
A Title Search is used as audit evidence to confirm two things regarding the Property:
- To confirm ownership over the property
- To make sure there are no charges or borrowings against the property
Obtaining a Title Search is generally dependent on where the property is located. If you are our client, we can obtain a Title Search and we charge a fee of $120 for each property. For our full fee schedule, please see here.
Alternatively, you can obtain a Title Search yourself. A few websites that offer services for Title search are as follows:
- Victoria – https://www.landata.online/
- Queensland – https://www.titlesqld.com.au/
- New South Wales – https://www.nswlrs.com.au/
- Tasmania – https://www.thelist.tas.gov.au
- Western Australia – https://www.landgate.wa.gov.au/
- South Australia – https://propertyregistry.com.au/land-title-search/sa/
- Northern Territory – https://infotrackgo.com.au/property/title-search/title-search-nt
- Australian Capital Territory – https://infotrackgo.com.au/property/title-search/title-search-act
If you have yet to purchase a property or intend on purchasing one in the future, we offer more information regarding the purchase of property here.
Q & A
The short answer is yes.
Auditor needs to be provided with evidence to the following:
- Ownership over the investment
- There are no charges or borrowings against the property
In addition, as overseas countries may not recognize an SMSF as an entity it can be hard to provide ownership even in a Title document. A Declaration of Trust or a Statutory Declaration may be required and if possible, the name of the SMSF on the Contract of Sale. More information on Investment Ownership here.
