SMSF Statistics – March 2012

The ATO has released its latest SMSF statistics up to March 2012.

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Key statistics are:

 

  • Estimated number of SMSFs as at 31 March 2012 – 468,133.

 

For the 2010/11 financial year there were 32,850 new funds with 3,614 funds being wound up.  The net increase of 29,236 funds is double the net increase in 2009/10.

 

For the 9 months to 31 March 2012, there were 26,372 new funds with 315 funds being wound up.  The net increase for the 9 months of the 2011/12 financial year was 26,057.

 

Post the 2007 super changes, about 30,000 new funds have been established each year.  The net increase in the 2009/10 financial year in funds was materially reduced due to the very large number of funds which were wound up during that year.

 

  • Estimated number of SMSF investors as at 31 March 2012 – 895,387.

 

Since July 2004, the number of SMSF investors has been growing at the rate of about 7% per year. If this rate continues, then the 1m SMSF investors mark should be reached 2014 or 2015.

 

  • Membership size of Funds

 

The vast majority of SMSFs are two member funds (69%).  Single member funds comprise 23% of all SMSFs.  Consequently, in excess of 90% of SMSFs are single member or two member funds.

 

Three and four member funds comprise about 9% of all SMSFs.

 

The more detailed breakdown is:

 

Single Member funds    22.6% of all SMSFs

2 member funds            68.8% of all SMSFs

3 member funds            4.2% of all SMSFs

4 member funds            4.4% of all SMSFs

 

(Note this information is based upon statistics up to the 2009/10 financial year. Percentages have been rounded – so totals may exceed 100%)

 

  • Asset size of Fund

Average assets per SMSF member as at 30 June 2010         $466,909

Average assets per SMSF as at 30 June 2010                      $888,433

 

Since the 2003/04 financial year, average assets per SMSF member has increased by about 9% per annum.  Given reduced returns and reduced contribution caps, even if average assets increase by 5% per annum going forward, the average assets per SMSF member could have already reached the $500,000 mark.

 

Since the 2003/04 financial year, average assets per SMSF have also grown by about 9% per annum.  If the growth rate is reduced to 5% per annum going forward, the average assets per SMSF could reach the $1m mark in late 2012.

 

  • Location of newly established SMSFs

 

In respect of the March quarter 2012, the location for newly established SMSFs was as follows:

 

35.3%                     NSW

31.5%                     Victoria

15.2%                     Queensland

8.7%                       Western Australia

6.4%                       South Australia

1.5%                       ACT

1.0%                       Tasmania

0.3%                       Northern Territory

 

This information has been extracted from ABS statistics.

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