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ATO stats show continued growth in SMSF sector

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The ATO’s June quarterly statistical data on the SMSF sector has been released and has revealed continued growth.

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According to the latest data, there are now 625,609 SMSFs in Australia up from 598,564 in the June 2023 quarter.

This number correlates with the expected 30,000 new SMSF establishments predicted in the most recent Class Annual Benchmark Report.

The ATO data also shows there are now 1,152,792 members of SMSFs up from 1,143,528.74 in the previous quarter.

The total estimated assets of SMSFs are $990.4 billion up from $985 billion in the March 2024 quarter with the top asset types held by value being listed shares (28 per cent of total estimated SMSF assets), cash and term deposits (16 per cent).

Around 53 per cent of SMSF members are male and 47 per cent are female with 85 per cent of SMSF members 45 years or older.

The report also provided an update of the annual SMSF population analysis tables for 2018–19 to 2022–23, based on SMSF annual return data.

 

 

Keeli Cambourne
September 27 2024
smsfadviser.com

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Louise Laing

Louise founded Salus Private Wealth to offer high quality personal advice to clients who want to work closely with an adviser for the long term. Her philosophy that understanding each individual and their motivations and needs is key to an enduring and successful financial planning relationship is at the heart of the business.

She first engaged the services of a financial adviser herself when she was in her early 20s (long before becoming one) and believes the non-judgemental support and education about her position and options provided at this early stage has allowed her to make confident decisions in different aspects of life since then.

This confidence and positivity in making choices, financial or not, is what she wants to give to her clients.

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Legislation and rules are changed regularly, so advice can help you take advantage of opportunities to build for the future. We are authorised to provide advice on and to SMSFs.

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