Latest SMSF statistics from the ATO: Still growing in numbers and with more assets invested

The ATO has recently published its SMSF statistics as at 31 December 2011.  The ATO estimates that there were 458,500 SMSFs in operation as at 31 December 2011 with in excess of 873,000 members.

For the year ended 30 June 2011 almost 33,000 SMSFs were established with about 3,200 SMSFs being wound up.  This resulted in a net increase in SMSFs for the financial year 2010/11 of about 29,600 SMSFs.  Consequently 2010/11 was the most prolific year for the net increase in SMSFs since 2003/04.  (This comment does not take into account the 2006/07 financial year, which was an anomalous year given the one off contribution incentive applying for that year.)

Almost 60% of SMSFs are located in NSW or Victoria (there are marginally more SMSF in NSW).  Queensland has the next highest concentration of SMSFs with almost 17% and Western Australian had marginally over 11% of the SMSF population.

Average assets per fund for the financial year 2009/10 (the most recent year for which the ATO has comprehensive figures) was $888,433, an increase of about $70,000 over the figure for the preceding year.  On this basis, average assets per SMSF for more recent financial years could exceed the level of 2006/07 financial year.

Average assets per member for the financial year 2009/10 were $466,909, which is an increase of about $36,000 over the preceding year.

The information set out above has been taken from the December 2011 SMSF Statistical Report prepared by the ATO and issued in February 2012.  The ATO notes that most of the information in the report is estimated having regard to annual returns prepared by SMSFs.