Total number of SMSFs jumps to almost 600K
The total number of SMSFs increased by around 4 per cent in the 12 months to September, up to 598,620 SMSFs, according to the ATO’s latest statistics.
The ATO SMSF statistical report for September 2017 also revealed that the total number of members rose by around 4 per cent over the 12 months, with the addition of 44,560 new members. The total number of SMSF members at 30 September was 1,130,721.
Total net Australian and overseas assets increased 7.75 per cent from $624.3 billion up to $672.7 billion.
The estimated total value of SMSF assets was $701.6 billion at 30 September, including the $22.85 billion in borrowings, and $6.04 billion in other liabilities.
The statistics also indicated that listed shares continue to account for the largest share of assets at 29 per cent, followed by cash and term deposits at 23 per cent, and non-residential real property and unlisted trusts 11 per cent.
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.