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
• listed shares (31% of total estimated SMSF assets)
• 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%).

If you require help with your SMSF, contact us at administration@ventureprivateadvisory.com.au

You might also want to read this dealing with excess before tax super contributions.