The ATO has released its annual statistical overview of SMSFs for the 2019-20 financial year based on SMSF annual returns in addition to 2020–21 information from registrations, wind-ups, and auditor contravention reports.
Highlights include:
- 598,000 SMSFs holding $822 billion in assets, with more than 1.1 million SMSF members, as of 30 June 2021.
- SMSFs had assets of over $1.3 million on average in 2019–20, the same as the previous year and up 20% over five years.
- 62% of SMSFs have existed for more than ten years.
- 48% of SMSFs had assets between $200,001 and $1 million. This accounts for 20% of the total SMSF assets.
- The median age of SMSF members of newly established funds in 2019–20 was 46. The median age of all SMSF members was 61 as of 30 June 2021.
- The average member balance for females increased by 23% over the five years to 2019–20, while the average balance for males increased by 19% over the same period.
Source: Latest annual stats show the SMSF sector continues to grow | Australian Taxation Office (ato.gov.au)
