Today the ATO released its Self-Managed Super Fund (SMSF) statistical report for the year ended 30 June 2012. Here is a summary of the latest findings.
- There were 478,263 SMSFs in Australia holding the retirement savings of 913,550 members;
- 36,270 funds were established in the 2011-12 financial year, the highest number for five years;
- Only 994 were wound up during that period.
- The average fund has total assets of $917,895 and the average member account is $480,537.
- As at 30 June 2012, 31% of assets were held in cash and term deposits.
- Around 30% of assets were in listed shares.
- Nearly 12% of assets were in commercial property.
- Only 4% of assets were in residential property.
- Smaller funds have about double the cash holdings of larger funds.
SMSF Asset Allocation
|Cash & term deposits||134,103||30.5|
|Other managed investments||21,450||4.9|
|Residential real property||15,557||3.5|
|Other overseas assets||1,684||0.4|
|Artwork & collectibles||709||0.2|
|Overseas managed investments||329||0.1|
|Overseas residential property||123||0.0|
|Overseas non-residential property||82||0.0|
- Nearly one-third of SMSF members are aged between 55 and 64.
- About 28% of members are aged over 65.
- Only 4.4% are aged under 35.
- 22% of SMSF members have a taxable income of more than $100,000 per annum.
- 69% of funds have two members; 23% are single member funds.
- Almost 32% of funds are based in NSW, 30% in Victoria, 17% in Queensland and 11% in Western Australia.