ATO stats show continued growth in SMSF sector
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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Sofie Korac is an Authorised Representative (No. 400164) of Prudentia Financial Planning Pty Ltd, AFSL 544118 and a member of the Association of Financial Advisers.
Financial Advice Sydney and the North Shore Office based in Lindfield NSW