SMSF sector continues to grow

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The ATO have released the 11th edition of our annual statistical overview on self-managed super funds (SMSFs).

The overview provides key statistics and analysis of Australia’s SMSF sector for the 2018–19 financial year, with the main source of data coming from SMSF annual returns.

Also included is 2019–20 financial year information for:

  • registrations
  • wind-ups
  • total populations (SMSFs and members) and their demographics
  • estimated total SMSF assets and asset allocation
  • approved SMSF auditor contravention reports.

Highlights of the overview include:

  • There are 593,000 SMSFs holding $733 billion in total assets, with more than 1.1 million SMSF members, as at 30 June 2020.
  • SMSFs had assets of over $1.3 million each on average in 2018–19, up 5% from the previous year and up 22% over five years.
  • 55% of SMSFs have existed for more than 10 years.
  • 47% of SMSFs had assets between $200,001 and $1 million. This accounts for 20% of the total SMSF assets.
  • The median age of SMSF members of newly established funds in 2018–19 was 46, compared with 61 for all members as at 30 June 2020.
  • The average member balance for females increased by 28% over the five years to 2018–19, while the average balance for males increased by 22% over the same period.
  • SMSFs achieved positive returns for the past five years. The estimated return on assets for 2018–19 was 6.8%.

If you are interested in setting up your own SMSF, please complete the form on the side, or visit the contact us page!