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SMSF establishments bounce back in September quarter
Net establishments for SMSFs have seen a slight rebound in the September quarter this year after falling into negative territory in the same quarter last year.
The ATO’s SMSF statistical report for September shows that the total number of SMSFs jumped by 5,432 during the September quarter this year up to 596,059.
There was a 2.9 per cent jump in the number of SMSFs from the previous September quarter when the number of funds actually fell by 1,646 funds.
The total number of SMSF members also rose, increasing from 2.9 per cent over the 12 months from 1,093,789 up to 1,125,994.
The total amount of net Australian and overseas assets held in SMSFs jumped to $755 billion, a 6.7 per cent increase from the September quarter in 2017.
The top asset types held by SMSFs based on value continue to be listed shares and cash and term deposits, making up 30 per cent and 23 per cent of total estimated SMSF assets, respectively, the ATO said.
Miranda Brownlee
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.
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