According to statistics released by the ATO on Wed 17.12.2014, the number of self-managed super funds (SMSFs) has increased by 29% to 534,000 in 5 years and with total assets growing to $557bn.
The statistics are featured in the ATO’s report entitled, Self-Managed Superannuation Funds: A Statistical Overview 2012-13. It showed that over 5 years to 2012-13, contributions to SMSFs averaged $24.9bn a year on behalf of 64% of SMSF members. Notably, member contributions increased by 5% and exceeded employer contributions by approximately 3 to 1 in 2013.
The ATO also reported that it continues to see the proportion of SMSFs with borrowings increase from 1.5% in 2009 to 5% in 2013. At June 2013, SMSF borrowings were equivalent to 1.9% of total SMSF assets.
The next publication, based on data for the 2013-14 financial year, is anticipated to be released in December 2015.
[LTN 244, 17/12/14]