SUPERCentral is an independent online platform provider of SMSFs, advice, legal documentation and wealth management services to accounting and financial planning firms throughout Australia.
ATO Super Statistics
The ATO has just published its quarterly statistical report for self managed superannuation funds. The report is based upon the December 2018 financial quarter.
Headline points are:
- Total number of SMSFs is now almost 600,000 (actual figure is 597,009)
- Total number of members in SMSFs is over 1,125,000 (actual figure is 1,127,304)
- Total estimated value of assets held by SMSFs – $726 billion.
Interesting features include:
- New SMSF established during the 12 months to 30 June 2018 – were 25,458
- SMSFs wound up during the 12 months to 30 June 2018 – were 18,580
- Net increase in SMSFs for the 12 months to 30 June 2018 – was 6,878
- 12 months to 30 June 2018 experienced the lowest nett increase in SMSFs
- The value of SMSF assets being “Collectables and personal use assets” category has experienced a slow decline from $441m (June 2014) to $365m (June 2018)
- The value of SMSF assets being “Limited recourse borrowing arrangements” has marginally increased over the June 2107 quarter to December 2018 quarter from $41.1b to $42.8b
- While the value of SMSF assets being “Limited recourse borrowing arrangements” doubled over the 12 quarters, to the June quarter 2017, from $15.5b to $30b there was a 33% increase in the June 2017 quarter alone.
- The value of total borrowings by SMSFs (almost exclusively associated with limited recourse borrowing arrangements) has been relatively stable since the June 2016 quarter at about $23b.
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