SMSF statistics continue to wow

The ATO recently released the latest statistics regarding SMSFs (to the end of September 2019). Highlights include:

·       There are 598,582 SMSFs. 

·       There are 1,124,699 members of SMSFs. 

·       The total estimated assets of SMSFs are just over $746 billion. 

·       The top asset types held by SMSFs (by value) are  

o   listed shares (31% of total estimated SMSF assets)

o   cash and term deposits (21%).

For the 2018-19 financial year, the ATO recorded 19,945 newly registered funds. Of these, the age of new members has continued to trend to a younger cohort. The most common age range for new SMSF members is 35-to-44 (33.2% of total), followed by the 45-to-49 age group (17.8%), but with the third most common age range being 25-to-34 (12.9%). 

For the entire SMSF sector, the most common number of members remains two (around 70% of total), followed by single-member funds (24%). Three and four member funds are about equal at 3.5%. Male and female members are roughly equal (males 52.7%, females 47.3%). 

Harper Group Pty Ltd – Chartered Accountants Frankston - Ph 9770 1547 

Disclaimer: All information provided in this article is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information.