The March 2025 figures show that there were 9,956 new entries into the sector, compared with 8,202 in the same quarter of last year.
There are now 646,168 SMSFs with 1,197,293 members, up from 1,180,820 members in the December 2024 quarter.
There were only 297 exits, down nearly 300 from the previous quarter, which registered 572 exits, and the March 2024 quarter, which had 1,704.
The total estimated assets of SMSFs are now $1.01 trillion, with listed shares making up the majority (26 per cent) and cash and term deposits next at 16 per cent.
Drilling down into the figures, it shows that overseas shares this quarter had dropped to $17.9 million from a high in the September 2024 quarter of $18.8 million. Residential real property increased to $59.2 million from $58.4 million in the December 2024 quarter, and non-residential real property also went up from $109.9 million in December 2024 to $111.5 million in the latest quarter.
The majority of SMSFs are held in NSW (39 per cent), with Victoria on 27 per cent and Queensland the next highest.
Men still make up the largest proportion of SMSF members, accounting for 53 per cent, with women making up 47 per cent. Breaking it down further, the largest proportion of SMSF members are in the 35- to 44-year age group. In total, 85 per cent of members are aged 45 years or older.
The largest portion of SMSF members also have a total assessable income of between $100,000 and $150,000 (24.7 per cent).
Shelley Banton, head of technical for ASF Audits, said the performance of SMSFs in the March 2025 quarter was largely in line with broader market developments.
“Leading up to March 31, investor sentiment was increasingly shaken by worries over President Trump’s trade stance, with US tariffs officially announced on April 2,” she said.
“This uncertainty was worsened by growing fears of a US recession, which weighed heavily on markets. Mining stocks took a hit as investors braced for a potential global slowdown. These concerns led to a 2.9 per cent decline in the S&P/ASX 300 index for the quarter.”
Banton continued that the latest statistical report showed this market unease, revealing a 3.3 per cent decline in the value of listed investments held by SMSFs – assets that comprise 29 per cent of total SMSF holdings.
“Although some may point to Division 296 as a contributing factor in the downturn, it’s worth noting that the SMSF industry continued its strong opposition to what is an unfair and divisive tax. However, the proposed legislation lapsed due to the federal election at the end of March.”
“Looking ahead, the June quarter will be one to watch. With the Albanese government securing a majority, attention will turn to the impact of Division 296 tax and recent developments, such as yesterday’s interest rate cut and ongoing volatility in global markets. These factors will likely play a key role in shaping investor sentiment and SMSF performance in the coming months.”
