ATO statistics show jump with super balances
The ATO’s annual Taxation Statistics report for the 2015/16 financial year indicates that the average superannuation account balance saw a slight increase over a 12-month period.
According to the ATO statistics, the average superannuation account balance rose to 115,945 in the 2015/2016 financial year from 112,738 in the 2014/15 financial year.
The median account balance also increased to $37,473 in the 2015/2016 financial year from $36,820 a year earlier.
The average account balances for individuals earning between $18,201 and $180,000 decreased slightly during the 12 months.
On the other hand, the average account balance increased for those earning less than $18,200 and those earning over $180,000.
Deductions for personal superannuation contributions saw a slight increase with the average amount claimed increasing to $21,764 in 2015/16 from $21,205 in 2014/15.