SMSFs Score Highly
The SMSF Association has just released their review of the Australian Taxation Office’s 2016-17 statistical overview of SMSFs. Given the amount of pre-election SMSF negativity it makes a very exciting read with highlights like;
- The average SMSF establishment size rose to $521,000 compared with the relatively stable levels of $370,000 in the previous four years – a 38% increase.
- SMSFs made an average return of 10.2% compared with the 9.1% return for APRA-regulated funds.
- SMSF expenses fell eight basis points, largely attributable to increased use of technology and software in fund administration.
- Total contributions to SMSFs were $41.8 billion up from $31.6 billion and an increase of 32% over 2016.
- SMSF benefit payments increased by 31% from $35 billion to $46 billion.
- Of SMSFs established in the 10 years prior to 30 June 2017, 88% were still in existence at that date.
For an in depth read click here.