ATO SMSF Stats

The ATO has released its June 2015 quarter SMSF statistical report and the key items are summarised below.  Generally the information is based upon information available to the ATO as at June 2015 (unless otherwise indicated).

There are three significant points raised by the ATO report: first, the revised figure for LRBAs assets: second net SMSF establishment figures; and, finally, the reduction in the net flow of funds.

The first significant point is the revised figure for assets held under limited recourse borrowing arrangements (revised from $9.3 billion to $15.1 billion as at June 2014).  The revision is due to better data collection.  With the revised figure, it means that about 3% of the value of SMSFs assets are geared under limited recourse borrowing arrangements.

The second significant issue is the increase in the net establishment figure for SMSFs for the 2014/15 financial year.  While gross establishments were down 5% on the 2013/14 figure, due to the material reduction in the number of SMSFs wound up during the 2014/15 financial year – 1,350 compared to 10,196 for 2013/14 – the net establishment figure of 30,723 for 2014/15 exceeded the corresponding figure for 2013/14 being 23,566.

The final significant point is the reduction in the net flow of funds figure for SMSFs.  The flow of funds is excess of money going into SMSFs over money leaving SMSFs and ignores changes in asset values.  Over the five financial years from 2009 to 2014 the estimated flow of funds has moved from $11,502m (2009) to $13,603m (2010), $13,599m (2011) then falling to $5,488m (2013) and falling even further to $993m (2014).  The principal reason for the reduction in the net flow of funds figures is primarily due to an 80% increase since 2009 in benefit payments from $17,052m (2009) to $30,662m (2014).

Other key items are:

• 557,000 SMSFs
• 1,050,00 SMSF members
• $590 billion in assets
• Average assets per SMSF member as at June 2014 - $564,086 (corresponding figure previous year was $513,805)
• Median assets per SMSF member as at June 2014 - $338,336 (corresponding figure for the previous years was $302,808)
• Average assets per SMSF as at June 2014 - $1,066,080 (corresponding figure for the previous year was $975,206)
• Median assets per SMSF as a June 2014 - $602,929 (corresponding figure for the previous year was $541,683)
• 70% of SMSFs have two members (essentially unchanged for the five years to 2013/14)
• 23% of SMSFs are single member SMSFs (essentially unchanged for the five years to 2014/14)
• Three member and four member SMSFs constitute slightly less than 8% of all SMSFs (essentially unchanged for the five years 2013/14)
• Over 63% of SMSFs are located in NSW and Victoria with the next most populous SMSFs states being Queensland (16.5%) and Western Australia (10%)  (most recent data relates to 2013/14).