30/05/2012

Key stats are:

• Estimated number of SMSFs as at 31 March 2012 – 468,133.

For the 2010/11 financial year there were 32,850 new funds with 3,614 funds being wound up.  The net increase of 29,236 funds is double the net increase in 2009/10. 

For the 9 months to 31 March 2012, there were 26,372 new funds with 315 funds being wound up.  The net increase for the 9 months of the 2011/12 financial year was 26,057.

Post the 2007 super changes, about 30,000 new funds have been established each year.  The net increase in the 2009/10 financial year in funds was materially reduced due to the very large number of funds which were wound up during that year.

• Estimated number of SMSF investors as at 31 March 2012 – 895,387.

Since July 2004, the number of SMSF investors has been growing at the rate of about 7% per year. If this rate continues, then the 1m super investors mark should be reached 2014 or 2015.

• Membership size of Funds

The vast majority of SMSFs are two member funds (69%).  Single member funds comprise 23% of all SMSFs.  Consequently, in excess of 90% of SMSFs are single member or two member funds.

Three and four member funds comprise about 9% of all SMSFs.

The more detailed breakdown is

Single Member funds    22.6% of all SMSFs
2 member funds           68.8% of all SMSFs
3 member funds           4.2% of all SMSFs
4 member funds           4.4% of all SMSFs

(Note this information is based upon statistics up to the 2009/10 financial year. Percentages have been rounded – so totals may exceed 100%)

• Asset size of Fund

Average assets per SMSF member as at 30 June 2010    $466,909
Average assets per SMSF as at 30 June 2010                 $888,433

Since the 2003/04 financial year, average assets per SMSF member has increased by about 9% per annum.  Given reduced returns and reduced contribution caps, even if average assets increase by 5% going forward, the average assets per SMSF member could have already reached the $500,000. 

Since the 2003/04 financial year, average assets per SMSF have also grown by about 9% per annum.  If the growth rate is reduced to 5% per annum going forward, the average assets per SMSF could reach the $1m threshold in late 2012.

• Location of newly established SMSFs
  

In respect of the March quarter 2012, the location for newly established SMSFs was as follows:

35.3%      NSW
31.5%      Victoria
15.2%      Queensland
8.7%        Western Australia
6.4%        South Australia
1.5%        ACT
1.0%        Tasmania
0.3%        Northern Territory

This information has been extracted from ABS statistics.

If you have any questions in relation to this article, please contact TOWNSENDS BUSINESS & CORPORATE LAWYERS on (02) 8296 6222.