ATO reports notable SMSF growth

ATO reports notable SMSF growth

The latest statistics from the ATO show the total number of SMSFs in Australia has grown 4 per cent in the 12 months to September 2017.

This growth brings the total number of SMSFs in the country to 598,620, according to the statistics.

The ATO report for September 2017 also revealed that the total number of members rose by around 4 per cent over the 12 months, with the addition of 44,560 new members. The total number of SMSF members at 30 September was 1,130,721.

Total net Australian and overseas assets increased 7.75 per cent from $624.3 billion up to $672.7 billion.

The estimated total value of SMSF assets was $701.6 billion at 30 September, including the $22.85 billion in borrowings, and $6.04 billion in other liabilities.

The statistics also indicated that listed shares continue to account for the largest share of assets at 29 per cent, followed by cash and term deposits at 23 per cent, and non-residential real property and unlisted trusts 11 per cent.

ATO reports notable SMSF growth
ifa logo
promoted stories