SMSF Statistical Overview

Dec 8, 2015 | Personal Wealth, SMSF

Matthew Grapsas

For the past 6 years the ATO have been delivering a statistical snapshot of the vast amount of data they collate each year from Self-Managed Superannuation Funds (SMSFs). The most recent of which was based on 2013-14 financial year data and was released in late December 2015. As always with the ATO there is a lot of data and information given, although when it is broken down it allows us to gain an insight into what the current industry trends are. Some of the more interesting points are:

SMSF Market Share

SMSFs have yet again proven they are fast becoming one of the options of choice for financing retirement.

There is inherent strength in numbers, and the number of SMSFs in Australia does not lie; they now exceed a total of 550,000, with more than 1,000,000 Australians choosing to be a member of an SMSF.

The assets held inside of these funds now make up over 29% of the total $2 trillion held within superannuation assets. This is a result of SMSF’s going through almost as much change as our Prime Ministership over the past 5 years. This is shown through the value of SMSFs growing by a considerable 44% or $180.9 billion, the number of SMSFs has expanded by more than 100,000 and over 200,000 people have become members during that period. This amazing growth has seen SMSFs become a new addition to the million dollar club; the average assets per SMSF hit over $1 million for the first time in their history!

However despite all of the growth and expansion SMSFs have experienced over the last 5 years approximately only 0.2% of Tax Agents who lodged an SMSF return in the 2014 financial year lodged more than 250 funds. LBW are proud of the fact that we are a part of this 0.2% and acknowledge this puts LBW Chartered Accountants right at the forefront when it comes to SMSF compliance and administration. We not only have the knowledge and experience to be able to guide you through the ever changing and sometimes tricky world of SMSFs, but the scope and capability to handle a greater number than over 99% of Tax Agents.

Stay tuned for more statistical snapshots from the powerhouse which is the ATO.

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