Once a year the ATO release statistics on the Australian Self-Managed Super Fund (SMSF) industry. It’s not often that a bunch of numbers from the ATO would be worth writing about but if you are a member of an SMSF or have considered doing so, then read on…
- Over 1 million Australians are now a member of an SMSF, that’s more than 1 in 20 Australian adults
- Over 32,000 new SMSF’s were opened during the past year, with only 1,350 closed – the sector is growing quickly
- The total amount invested in residential property (houses) is only approximately $22 million which is much less than shares ($187 million) and cash/term deposits ($158 million)
- Members of SMSF’s are from a wide range of income levels, not just high income earners
- The median member balance is $338,000 and the median total SMSF size is $603,000
It is evident from the rate of growth of SMSF’s in Australia that more and more people are taking a keen interest in the role that superannuation plays in securing a comfortable retirement, this can only be a good thing for our country – what about you?
