FINANCIAL INDEPENDENCE

If you have purchased a residential property in an SMSF and you finally switch to pension phase, how do you value the fund balance for the purpose of minimum 4% drawdown. Do you use (a) purchase price, (b) 15x net rent (like a commercial property), (c) take valuation from the bank assessment with a desktop valuation (d) onthehouse/view/realestate/domain .com.au, (e) land value (from a rates notice) (f) purchase price inflated by CPI (which was how CGT was done up to the 90s) (g) something else? Significance is that rental yields of "investment grade" properties are probably more like 2-3%, but the potential sale price may be appreciating. Super pension phase requires a minimum 4% (increasing with age), so even if you owned enough property for the net rent to cover your desired retirement pension, it would be non-compliant if you used the optimistic valuations provided by, say, onthehouse.