SMSF Adviser 21 June 2017
Total SMSF assets continued to grow during the 12 months to the end of March 2017, rising by around 13 percent up to $648 billion, according to the latest ATO statistics.
The ATO SMSF Statistical Report for March 2017 indicated that total net Australian and overseas SMSF assets increased by around 74 billion dollars in the 12 months to the end of March 2017.
The number of total SMSFs also increased, rising from 568,506 SMSFs in March last year, up to 590,742 for this year.
Most SMSF establishments during the March quarter came from the younger age ranges, with members below the age of 50 accounting for the majority of SMSF setups.
The ATO statistics indicated that 30.5 per cent of SMSF establishments were set up by the individuals aged 35 to 44, while 11.5 per cent were set up by those aged 25 to 34, and 17.8 were set up by those aged between 45 and 49.
NOTE: The beginning of the financial year is an ideal time to establish your family SMSF. Contact Steve Blizard on 08 9379 3555 or email: firstname.lastname@example.org to get your family SMSF moving.