 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
The Australian Taxation Office has released the following information in respect of the self managed superannuation fund market.
Number of SMSF’s
According to the ATO, the number of SMSF’s has grown in the past quarter by 1.3% to 372,589 overall and are the investment vehicle of some 718,878 members. The number of SMSF’s increased by 4,774 between September 2007 and December 2007 and 43,205 between December 2006 and December 2007.
No of SMSF’s
| June 2006 | 317,081 |
| September 2006 Qtr | 323,235 |
| December 2006 Qtr | 329,384 |
| March 2007 Qtr | 338,504 |
| June 2007 Qtr | 359,825 |
| September 2007 Qtr | 367,815 |
| December 2007 Qtr | 372,589 |
SMSF Assets
Total SMSF assets rose 0.48% during the December 2007 quarter, bringing the overall value of SMSF assets to $300.1bn at 31 December 2007. Assets have grown by $1.4bn between September 2007 and December 2007 and $55.9bn between December 2006 and December 2007.
SMSF Assets
| June 2004 | $133.4bn |
| June 2005 | $168.7bn |
| June 2006 | $216.9bn |
| September 2006 Qtr | $225.8bn |
| December 2006 Qtr | $244.2bn |
| March 2007 Qtr | $259.9bn |
| June 2007 Qtr | $282.7bn |
| September 2007 Qtr | $298.7bn |
| December 2007 | $300.1bn |
Average Assets
The average assets held per member for 2006/2007 is $417,694 and the average assets held per SMSF for the same period is $800,651. This is an increase of 15.2% on the previous financial year.
2003-2004 |
2004-2005 |
2005-2006 |
2006-2007 |
|
Per Member |
$247,642 |
$295,266 |
$361,999 |
$417,694 |
Per Fund |
$478,401 |
$569,704 |
$694,907 |
$800,651 |
Contribution Inflow
During 2006/2007 $17.2bn of member (after tax) contributions were received by SMSF’s. This is an increase of 21.6% on the previous year. In 2006/2007 8.9bn of employer contributions were received by SMSF’s, and increase of 11.2%.
Member Contributions
| 2003/2004 | $7.5bn |
| 2004/2005 | $8.9bn |
| 2005/2006 | $14.1bn |
| 2006/2007 | $17.2bn |
Employer Contributions
| 2003/2004 | $5.0bn |
| 2004/2005 | $5.2bn |
| 2005/2006 | $8.0bn |
| 2006/2007 | $8.9bn |
Demographics
48.8% of members of SMSF’s are over 55 years of age. 45 to 54 year olds make up 28.6% of members, with 22.6% members below age 45.
For further information regarding the figures follow the link:
http://www.ato.gov.au/super/content.asp?doc=/content/00100435.htm