29 Jan 1414 SMSF industry continues to grow
In media release No 2013/41, issued 18 December 2013, the ATO announced the release of its latest report entitled "Self Managed Superannuation Funds: A Statistical Overview 2011-12"
It shows that the number of self managed super funds (SMSFs) has increased by 27% to 509,000 in five years and have total assets of $506 billion.
“The SMSF sector accounts for 99% of the total number of superannuation funds and 31% of the $1.6 trillion total super assets in Australia,” Assistant Commissioner Matthew Bambrick said.
For the first time the report also examines the borrowing trends of the SMSF industry.
The next publication will be based on data for the 2012-13 financial year and is anticipated to be released in December 2014.