Do you have a SMSF? Did you know?
- the average asset balance of a SMSF, per member, is $652,000.
- the majority of contributions to a SMSF were by the member not the employer. Member contributions were 5 times more than employer contributions.
- 84% of SMSF members are over age 45.
- only 7% of SMSF’s have more than 2 members.
- 62% of SMSF’s are administered in NSW and Victoria.
- less than 4% of the members of a SMSF are under 35 years old.
- 6% of members of a SMSF have a taxable income of less than $20,000.
- 1% of members of a SMSF have a taxable income greater than $150,000.
- 6% of SMSF’s have an asset balance between $200,000 and $2M.
- the average asset per member in a SMSF has increased from $507,392 to $652,465 in the 2017 financial year or 28.6%. This increase includes both earnings, contributions, transfers in, transfers out and benefit payments.
Should you have any questions with regard to SMSF, please feel free to contact Peter Quinn by submitting an enquiry or calling us on +61 2 9580 9166.
The information in this document does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.