SELF MANAGED SUPER FUND TRENDS FROM THE ATO

In December 2012, the ATO released their quarterly Self Managed Super Fund (SMSF) Report, which illustrated some interesting findings.


As at June 2012, there were approximately 478,579 funds belonging to around 909,188 SMSF members. The report shows a steady increase in SMSFs since as far back as the data shows (June 2004).


Wind ups continued to decrease, with 3,644 extrapolated for 2011-2012, compared to 6,403 in 2010-2011. This fell from a peak of 14,881 in 2009-2010. While this sounds substantial, it is important to note that even in 2009-2010, there were less than 3.6% of SMSFs going under.


New South Wales and Victoria are leading the charge, with 66.2% of self managed super fund owners residing in these states. Comparatively, ACT has a paltry 1.4% of total SMSF, however this is likely due to the much smaller population. It would also be influenced by the fact a large number of ACT residents work in the public sector where they would have access to fee free super accounts, and they would therefore have no need for SMSFs.


The majority of funds continue to have two members. The data also shows that the vast majority are 45+ years of age.


These findings suggest that financially savvy older couples, particularly in the Southern states, are choosing to have more say in the investment of their money, rather than relying on the big names. It seems they are doing well at it, given that the number of start up SMSFs increased, while the number of wind ups has declined from previous financial years.


Please note that the figures used by the ATO are estimates. More information and a detailed look at the SMSFs broken down by asset types can be found at: http://tinyurl.com/aa74q4u


Disclaimer: The postings on this site are my own and don’t necessarily represent the views or opinions of Total Financial Solutions Australia (AFSL# 224954)


This information does not take into account the reader’s objectives, financial situation or needs. For this reason, before you act on this advice, you should consider the appropriateness of the advice taking into account your own objectives, financial situation and needs. Before you make a decision about whether to acquire a financial product, you should obtain and read the product disclosure statement.


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