Total number of SMSFs now close to 600,000
Based on its most recent SMSF statistics, the ATO estimates that the total number of SMSFs is now close to 600,000, with the number of funds increasing by around 10,000 since the end of March last year.
The ATO has released its SMSF quarterly statistical report for March which estimates that there are approximately 596,180 SMSFs in total, based on data extracted on 4 May this year and extrapolated from SMSF annual return data. It estimates the total number of SMSF members at the end of March to be around 1,090,467.
The ATO acknowledges that establishments and wind-ups for recent quarters in its statistical report may be understated because there is often a time lag between when the event occurs and when it receives notification from the SMSF.
The statistical report also indicates a small dip in total net Australian and overseas assets in SMSFs, falling from $673.7 billion at the end of March 2019 down to $646.3 billion at 30 March this year, representing a 4 per cent drop.
During the 12 months prior to March 2019, total net Australian and overseas assets in SMSFs had increased by 3 per cent.
There has also been a 17 per cent drop in the amount of assets held in listed shares by SMSFs, with assets in listed shares falling from $201.4 billion at the end of March 2019 down to $167.2 billion in March this year.
The amount of assets held by SMSFs in limited recourse borrowing arrangements, residential real property and managed investments all increased slightly.
Miranda Brownlee
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 also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.
