10 Sep 14 ATO's quarterly SMSF statistical report released
In a media release issued on 10 September 2014, the ATO announced the release of its quarterly self-managed superannuation fund (SMSF) statistical report for June 2014.
According to the report, there are estimated to be more than 534,000 SMSFs with total assets of $557 billion, an increase of 6% and 12.5% respectively since June 2013.
The June 2013 quarter estimates for assets held by SMSFs under limited recourse borrowing arrangements (LRBA) have been revised from $2.6 billion in 2013 to $8.3 billion. LRBAs allow SMSFs to borrow money to buy a single asset as long as the lender’s recourse is limited to that asset only if the SMSF defaults on the loan.