Class streamlines SMSF audits with market-leading integrated commercial property valuations
Tim Steele
Leading cloud-based accounting and Self-Managed Super Fund (SMSF) administration software provider Class has added certified commercial property valuations to its capabilities, delivering accountants comprehensive market valuation reports and rental assessments designed to meet audit needs.
This market leading capability has been introduced to ensure trustees are able to provide the ‘objective and supportable’ data required by the Australian Taxation Office (ATO) to accurately value property held within an SMSF.[1]
Last year, the ATO identified property valuations within SMSFs as a critical compliance issue, revealing more than 16,500 properties had not been revalued for over three years, signalling an expectation for valuations to be current and reflect market conditions. [2]
According to the Class Annual Benchmark Report 2025, almost 30% of SMSFs on Class held direct property investments in FY25. Of these funds that held residential property, it on average represented half of the value of the fund.
The new commercial valuation feature provides access through PropTrack to independent, certified valuers assessments. It also enables retrospective valuations, streamlining a previously complex and often time-consuming task.
Valuations can be especially challenging for commercial properties, where rental yields and lease agreements are crucial to the process. The use of related-party real estate agents to provide valuations is increasingly regarded as non-compliant due to concerns around independence and potential conflicts of interest.1
Class CEO Tim Steele commented commercial property valuations are a timely enhancement for accountants: “Class is continually listening to our clients and innovating to ensure they stay ahead of regulatory change. By removing friction that exists in current processes, we are enabling accountants and administrators to more efficiently service the needs of their clients.”
With the proposed Division 296 tax targeting high-balance SMSFs, accurate and secure valuations are more important than ever. Outdated property values could result in incorrect tax outcomes, making prompt and reliable valuations essential.
PropTrack’s Executive Manager of Product, Shelley Horton, said: “PropTrack valuations as a service solution provide accurate, up-to-date information, making the process smoother and more transparent. It gives SMSF trustees the tools to go beyond simply stating a property value by delivering a clear, well-documented process that meets ATO expectations, showing the data used, the valuation method, and any assumptions made.”
Through PropTrack, certified valuers provide desktop valuations within eight business hours and short-form valuations within 48 hours, providing clients with increased efficiency, improved accuracy, and compliance.
The introduction of integrated commercial property valuations will be released to all class customers this quarter and is part of Class’s program of enhancements to deliver efficiency for financial professionals.
It follows Class’s integration with Australia’s leading property data providers to offer direct access to residential property title searches and integrations with all four major Australian Share Registries.
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