The ATO have released the Self-managed Super Funds Statistical Overview for 2022–23. This report provides insights into the health and performance of the entire SMSF sector, including information on investment types and costs incurred by existing funds.
The primary data source for this overview is derived from the 2022–23 SMSF annual returns, supplemented with registration information from 2023–24.
Key highlights include:
As of 30 June 2024, over 625,000 SMSFs hold $990 billion in assets, representing more than 1.1 million members.
On average, SMSFs had assets worth $1.55 million in 2022–23, reflecting a 21% increase over the five years leading to 30 June 2023.
65% of SMSFs have been in existence for more than 10 years.
43% of SMSFs had assets ranging between $200,001 and $1 million, which accounts for 16% of total SMSF assets.
The median age of SMSF members for funds established in 2022–23 was 47, while the median age across all SMSF members as of 30 June 2024 was 63.
The average member balance for females increased by 26% over the five years to 2022–23, while the average balance for males rose by 22% during the same period.
For more information or assistance please contact Infinite Accounting Solutions on 02 9899 4730 or via the contact page at www.ias-ca.com.au.