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:
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:
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.
The short answer is yes.
Auditor needs to be provided with evidence to the following:
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.
We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.
Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.
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Shop 1/116 Balcombe Rd, Mentone, VIC 3194
PHONE:
03 9583 9813
0411 241 215
Email:
admin@superannuationwarehouse.com.au
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Monday to Friday
9.00am – 5.00pm