New data tool to service SMSF property interest
Software company BGL Corporate Solutions and research house RP Data have teamed up to provide automated property data to self-managed super fund investors, to service the sector’s appetite for direct property.
The data will be provided through BGL’s existing SMSF administration platforms and will provide information on property valuations, complete land title searches and depreciation schedules.
BGL managing director Ron Lesh said the new service would assist SMSF trustees looking to invest in property.
“The latest [Australian Tax Office] statistics show around 17 per cent of SMSF assets are held in property and this continues to grow,” he said.
“This new service will help our clients to provide up-to-date asset valuations and will also make it easy for property valuations to be obtained for year-end audit.”
The move follows a warning from the Australian Securities and Investments Commission that it is watching the activity of “property spruikers” targeting investors in the self-managed super space through its SMSF taskforce.
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