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Is this what they would do if they were unrelated ie at arm's length?

But if you do not test the CIV for reasonableness how would you know. In short you might think that the rates notice is appropriate audit evidence, I do not. I do not believe it to be reliable and therefore I do not accept them. Most of my clients know to get a real estate agent valuation...

Some are questionable and boarder line, especially from some of the second tier banks. The St George/Westpac ones are very clear and I can see how they comply. NAB is not to bad but I did have an issue the other day where they appear to have not confirmed that a bare trust existed. We...

The rates notice is the last thing I would accept as proof of a valuation. Some councils are ok some are way off and I am not going to work out which council I can trust. If the trustee wanted to use the rates notice as a bases I would preference them to go to say http://house.ksou.cn/ and pick...

From an auditors point of view, I prefer to see the St Georges loan documents then some of the others. They given me a better level of comfort, that the fund complies the SIS Act.