21 Jul 14 ATO address: recent compliance activity, SMSFs and the ATO’s future priorities
On 17 July 2014, Matt Bambrick, Assistant Commissioner, Self-Managed Superannuation Funds Segment, ATO, gave an address entitled "Update from the ATO on recent compliance activity, areas of concern with SMSFs and the ATO’s future priorities" to the CPA Learn from the Masters SMSF Conference and Expo 2014 held in Sydney, NSW.
Mr Bambrick gave the following statistics:
"At March this year  there were 528,701 self-managed super funds with over one million members.
The number of SMSFs continues to grow:
- on average 34,500 SMSFs are established each year
- in the five years to 2013 SMSFs grew by 27 per cent, from just under 400,000 to over 500,000
- 90% of funds established in the 10 years to 2012 are still going.
SMSF assets total $558.5 billion (or 30% of $1.84 trillion in all super assets as at March 2014)."
For a copy of the address, go here