The ATO has released its latest SMSF statistics up to March 2012.
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:
8.7% Western Australia
6.4% South Australia
0.3% Northern Territory
This information has been extracted from ABS statistics.