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Data tables

The main source of data for these tables is lodged SMSF annual returns.

Last updated 25 February 2021

The main source of data for these tables is 2018–19 SMSF annual returns that have been lodged.

Where SMSF annual returns are outstanding, we use statistically valid formulas to estimate results. As outstanding returns are received, we revise and update results, therefore some figures may change in future releases of this statistical overview. Some tables use data reported in the Self-managed super fund quarterly statistical report – June 2020.

You can download all the data tables in Excel format – see SMSF overview data tables 2018–19 (XLSX, 604KB)This link will download a file.

For statistics on the taxation of SMSFs (and other entities) see Taxation statistics.

Table 1: Annual SMSF population, total gross assets and growth

This table shows the:

  • number of SMSFs established or wound up during each financial year
  • number of SMSFs and members at year end
  • total assets held by SMSFs at year end.

These figures are based on SMSF annual returns and registrations, and are consistent with those reported in the Self-managed super fund quarterly statistical report – June 2020.

SMSF population and assets, 2015–16 to 2019–20

 

2019–20

2018–19

2017–18

2016–17

2015–16

Establishments

21,303

20,371

25,359

30,333

32,790

Wind ups

2,763

15,677

24,093

14,632

13,465

Net establishments

18,540

4,694

1,266

15,701

19,325

Total SMSFs

593,375

574,835

570,141

568,875

553,174

Total members

1,107,268

1,072,701

1,069,076

1,072,140

1,042,220

Total assets ($m)

733,132

749,079

704,978

670,298

597,731
Annual SMSF growth

SMSFs

2019–20

2018–19

2017–18

2016–17

2015–16

2014–15

Total SMSFs

593,375

574,835

570,141

568,875

553,174

533,849

Growth

3.2%

0.8%

0.2%

2.8%

3.6%

n/a

Table 2: Australian superannuation sector

This table shows:

  • total assets held in APRA-regulated funds, SMSFs and other funds at 30 June 2015 and 30 June 2020
  • the percentage change from June 2015 to 2020
  • the proportion for each fund type at 30 June 2020.

These figures are sourced from the APRA Annual Super Bulletin June 2019 (issued 31 January 2020), table 8a and the Self-managed super fund quarterly statistical report – June 2020.

Assets by fund type

Fund Type

Assets at 30 June 2020
($b)

Proportion 30 June 2020
(%)

Assets at 30 June 2019
($b)

Assets at 30 June 2015
($b)

Change in assets from 2015 to 2020
(%)

Corporate

57.1

2.0%

58.1

53.9

6%

Industry

747.9

26.1%

718.6

434.1

72%

Public Sector

523.1

18.3%

520.1

210.6

148%

Retail

591.4

20.6%

625.9

536.5

10%

SMSFs

733.1

25.6%

747.6

582.4

26%

Other (a)

211.4

7.4%

208.4

191.9

10%

Total

2,864.1

100%

2,878.7

2,009.3

43%
(a) Includes excluded public sector superannuation schemes, balance of life office statutory funds and small APRA funds.

Table 3: SMSF age distribution

This table shows the age distribution of SMSFs based on years since their establishment date.

SMSF age distribution, 30 June 2020

SMSF age in years from establishment

Proportion of SMSFs

In 1st year of establishment

3.4%

>1–2 years

3.2%

>2–3 years

4.0%

>3–5 years

9.7%

>5–10 years

24.6%

>10 years

55.0%

N/A

0.0%

Total

100%

Average SMSF age (years)

11.14

Median SMSF age (years)

11

Table 4: Wind-ups by asset size, average and median assets and fund phase

These tables show:

  • the approximate distribution of SMSFs wound up by fund asset size in the year before wind-up
  • the approximate distribution of SMSFs by phase in the year of wind-up
  • average and median assets in the year before wind-up by fund phase.
Distribution of SMSFs by fund size in year before wind-up, 2014–15 to 2018–19

Fund size

2018–19

2017–18

2016–17

2015–16

2014–15

>$0–$50k

16.8%

19.7%

21.6%

26.2%

28.0%

>$50k–$100k

8.7%

9.5%

10.4%

11.6%

12.6%

>$100k–$200k

15.7%

17.1%

17.5%

17.4%

17.9%

>$200k–$500k

30.3%

29.3%

28.1%

25.9%

24.5%

>$500k–$1m

18.2%

16.6%

15.4%

12.9%

11.9%

>$1m–$2m

7.9%

6.0%

5.1%

4.5%

3.8%

>$2m–$5m

2.0%

1.5%

1.7%

1.3%

1.2%

>$5m

0.3%

0.2%

0.3%

0.2%

0.1%

Total

100%

100%

100%

100%

100%
Distribution of SMSFs in year of wind up by fund phase, 2014–15 to 2018–19

Fund phase

2018–19

2017–18

2016–17

2015–16

2014–15

Accumulation

58.7%

74.5%

66.7%

67.5%

67.9%

Retirement

41.3%

25.5%

33.3%

32.5%

32.1%

Total

100%

100%

100%

100%

100%
SMSF average assets in year before wind-up by fund phase, 2014–15 to 2018–19

Fund phase

2018–19

2017–18

2016–17

2015–16

2014–15

Accumulation

$314,262

$269,247

$265,268

$217,951

$184,041

Retirement

$623,523

$534,484

$563,880

$479,398

$459,215

All SMSFs

$452,630

$383,349

$376,170

$319,994

$288,864
SMSF median assets in year before wind-up by fund phase, 2014–15 to 2018–19

Fund phase

2018–19

2017–18

2016–17

2015–16

2014–15

Accumulation

$162,002

$139,424

$132,017

$95,421

$79,018

Retirement

$429,962

$377,412

$365,742

$305,158

$300,000

All SMSFs

$265,265

$223,809

$201,773

$162,109

$140,082

Table 5: Average and median asset sizes

These tables show:

  • the average and median member account balances and SMSF assets at the end of each financial year
  • member balances by phase at 30 June 2019.

To ensure consistency, the figures used in the first table are those reported in the Self-managed super fund quarterly statistical report – June 2020.

SMSF average and median asset sizes, 2014–15 to 2018–19

Assets

2018–19

2017–18

2016–17

2015–16

2014–15

Average assets per member

$701,234

$662,984

$630,112

$578,646

$568,623

Median assets per member

$423,736

$387,747

$366,222

$339,934

$333,460

Average assets per SMSF

$1,311,656

$1,246,310

$1,186,049

$1,091,124

$1,074,158

Median assets per SMSF

$748,913

$687,776

$650,892

$606,734

$596,308
Member balances by phase, 30 June 2019

Member balances

Accumulation balance with no retirement balance

Retirement balance with no accumulation balance

Accumulation balance where member also has retirement balance

Retirement balance where member also has accumulation balance

Member average balance

$433,699

$650,939

$1,475,866

$1,049,588

Member median balance

$210,503

$555,223

$616,550

$1,061,872

Table 6: Asset sizes in establishment year

This table shows the average and median member account balances and SMSF assets in each financial year for SMSFs established in that year. The figures are based on SMSF annual returns for the establishment year.

SMSF asset size in establishment year, 2014–15 to 2018–19

Assets

2018–19

2017–18

2016–17

2015–16

2014–15

Average assets per member account balance

$219,010

$209,786

$263,173

$193,024

$190,074

Median assets per member account balance

$131,217

$122,099

$138,709

$109,528

$102,754

Average assets per SMSF

$417,262

$401,067

$492,493

$372,996

$375,180

Median assets per SMSF

$280,961

$261,864

$299,008

$232,390

$221,397

Table 7: Asset ranges by fund size in year of establishment

This table shows the approximate distribution of SMSFs by fund asset sizes in their establishment year.

Distribution of SMSFs by asset size in establishment year, 2014–15 to 2018–19

Fund asset range

2018–19

2017–18

2016–17

2015–16

2014–15

$0–$50k

10.2%

12.1%

10.4%

14.5%

16.6%

>$50k–$100k

9.1%

9.5%

8.1%

9.9%

9.8%

>$100k–$200k

17.6%

18.1%

17.2%

19.8%

19.8%

>$200k–$500k

36.0%

35.0%

32.3%

32.2%

30.9%

>$500k–$1m

19.3%

18.3%

20.4%

16.8%

16.2%

>$1m–$2m

6.1%

5.6%

8.8%

5.6%

5.3%

>$2m–$5m

1.6%

1.2%

2.5%

1.2%

1.2%

>$5m

0.1%

0.2%

0.3%

0.1%

0.1%

Total

100%

100%

100%

100%

100%

Table 8: Contribution flows

These tables show, for each financial year:

  • total member and employer contributions to SMSFs
  • mean and median contributions
  • contributions to SMSFs as a proportion of total super contributions.

To ensure consistency, the total contributions figures used are those reported in the Self-managed super fund quarterly statistical report – June 2020.

For additional data on member and employer contributions by member age and gender, see SMSF overview data tables 2018–19 (XLSX, 604KB)This link will download a file.

Total SMSF contributions, 2014–15 to 2018–19

Contribution type

2018–19
($m)

2017–18
($m)

2016–17
($m)

2015–16
($m)

2014–15
($m)

Member

12,036

11,245

32,902

23,727

24,348

Employer

5,353

5,765

7,100

6,994

6,773
Mean SMSF contributions, 2014–15 to 2018–19

Contribution type

2018–19

2017–18

2016–17

2015–16

2014–15

Member

$52,273

$48,224

$128,394

$95,214

$97,650

Employer

$19,431

$19,925

$24,527

$24,623

$24,433
Median SMSF contributions, 2014–15 to 2018–19

Contribution type

2018–19

2017–18

2016–17

2015–16

2014–15

Member

$20,000

$18,500

$27,157

$20,744

$23,378

Employer

$16,237

$16,672

$18,474

$18,430

$18,335
Contributions to SMSFs as a proportion of total super contributions, 2014–15 to 2018–19

Contribution type

2018–19

2017–18

2016–17

2015–16

2014–15

Member

35.2%

36.2%

50.9%

52.0%

49.5%

Employer

5.5%

6.2%

7.7%

7.8%

7.9%

Total SMSF

13.2%

13.7%

25.5%

22.8%

23.0%

Table 9: Rollover flow (into and out of SMSFs)

These tables show:

  • the total value of rollovers into and out of SMSFs during each financial year
  • the mean and median amounts in those periods
  • rollovers by fund size.

To ensure consistency, the total rollover figures used are those reported in the Self-managed super fund quarterly statistical report – June 2020.

Total SMSF rollovers, 2014–15 to 2018–19

Rollover type

2018–19
($m)

2017–18
($m)

2016–17
($m)

2015–16
($m)

2014–15
($m)

Inward

12,554

14,767

17,547

14,642

14,807

Outward

9,714

8,298

8,630

5,349

5,507
Mean SMSF rollovers, 2014–15 to 2018–19

Rollover type

2018–19

2017–18

2016–17

2015–16

2014–15

Inward

$193,759

$212,749

$239,775

$194,911

$203,928

Outward

$373,911

$360,090

$441,139

$297,915

$326,176
Median SMSF rollovers, 2014–15 to 2018–19

Rollover type

2018–19

2017–18

2016–17

2015–16

2014–15

Inward

$50,000

$70,000

$77,158

$77,484

$81,009

Outward

$150,001

$128,902

$120,000

$81,180

$92,257
Distribution of total inward rollovers by fund size, 2014–15 to 2018–19

Fund size

2018–19

2017–18

2016–17

2015–16

2014–15

$0

0.9%

0.7%

0.5%

0.4%

0.4%

>$0–$50k

0.5%

0.7%

0.5%

0.5%

0.6%

>$50k–$100k

1.1%

1.3%

1.1%

1.6%

1.6%

>$100k–$200k

4.5%

5.0%

4.9%

7.1%

6.8%

>$200k–$500k

19.6%

20.1%

17.5%

22.7%

21.0%

>$500k–$1m

22.6%

22.7%

18.3%

22.9%

22.6%

>$1m–$2m

21.8%

21.6%

18.9%

20.8%

20.8%

>$2m–$5m

21.1%

18.9%

22.8%

16.1%

17.1%

>$5m–$10m

5.1%

5.5%

9.0%

5.3%

5.4%

>$10m–$20m

2.0%

2.7%

4.4%

2.0%

1.6%

>$20m–$50m

0.6%

0.5%

1.9%

0.4%

1.1%

>$50m

<0.1%

0.5%

0.3%

0.3%

1.1%

Total

100%

100%

100%

100%

100%
Distribution of total outward rollovers by fund size, 2014–15 to 2018–19

Fund size

2018–19

2017–18

2016–17

2015–16

2014–15

$0

39.1%

32.3%

21.4%

26.6%

27.3%

>$0–$50k

13.6%

11.7%

8.4%

9.3%

9.6%

>$50k–$100k

1.9%

1.7%

1.5%

1.3%

1.4%

>$100k–$200k

2.1%

1.9%

1.5%

2.0%

2.0%

>$200k–$500k

4.7%

4.7%

4.1%

5.8%

6.1%

>$500k–$1m

7.1%

8.2%

6.3%

10.6%

10.0%

>$1m–$2m

10.5%

12.2%

11.3%

14.3%

12.4%

>$2m–$5m

13.9%

17.0%

24.9%

18.4%

18.6%

>$5m–$10m

4.7%

5.1%

11.3%

7.0%

7.9%

>$10m–$20m

2.1%

2.7%

6.5%

3.5%

3.5%

>$20m–$50m

0.4%

1.6%

2.4%

0.7%

1.1%

>$50m

<0.1%

1.0%

0.5%

0.7%

0.2%

Total

100%

100%

100%

100%

100%

Table 10: Benefit payments

These tables show the total, average and median benefit payments from SMSFs during each financial year. Benefit payments include income stream benefits, lump sum benefits, transition-to-retirement and combination payments.

The figures for total benefit payments are consistent with those reported in the Self-managed super fund quarterly statistical report – June 2020. The average and median figures are based on SMSF annual returns.

SMSF benefit payments, 2014–15 to 2018–19

SMSF benefit payments

2018–19

2017–18

2016–17

2015–16

2014–15

Total ($m)

35,790

33,329

42,963

34,264

32,692

Average ($)

116,753

114,150

145,213

118,450

119,091

Median ($)

69,341

66,110

66,560

62,300

62,000
Distribution of total SMSF benefit payments by type, 2014–15 to 2018–19

Type of benefit

2018–19

2017–18

2016–17

2015–16

2014–15

Lump sum

31.4%

30.4%

13.7%

11.6%

12.3%

Income stream

65.4%

65.1%

77.9%

76.5%

75.3%

Transition to retirement

3.2%

4.5%

8.4%

11.9%

12.4%

Total

100%

100%

100%

100%

100%
Distribution of SMSF members receiving benefit payments by age, 2017–18

Age range

% of members receiving benefit payments

Average member benefit payment

Average member balance(b)

<55

2.3%

$27,553

$622,452

55–59

3.1%

$53,378

$1,033,352

60–64

16.9%

$70,290

$1,121,688

65–69

28.0%

$74,389

$1,147,004

70–74

26.4%

$73,298

$1,188,644

>74

23.3%

$96,136

$1,238,859

Unknown(c)

0.0%

$99,514

$1,316,340

Total

100%

$76,741

$1,159,473
(b) Average member balance is calculated before benefit payment.(c) Unknown value indicates a value less than 0.1% but greater than 0.

For additional data on members receiving income stream benefit payments and lump sum and income stream benefit payments by benefit type, see tables 10.1 and 10.2 in SMSF overview data tables 2018–19 (XLSX, 604KB)This link will download a file.

Table 11: SMSF net fund flow

This table shows net contributions, transfers, benefit payments, total expenses and net fund flow for SMSFs from the 2014–15 to 2018–19 financial years.

Breakdown of SMSF fund flows, 2014–15 to 2018–19

Flow type

2018–19
($m)

2017–18
($m)

2016–17
($m)

2015–16
($m)

2014–15
($m)

Total contributions

17,389

17,010

40,002

30,721

31,121

Net transfers

2,840

6,469

8,917

9,293

9,300

Benefit payments

35,791

33,322

42,963

34,264

32,692

Total expenses

8,721

8,521

8,094

7,745

6,435

Net fund flow

−24,283

−18,364

−2,138

−1,995

1,294

Table 12: SMSFs by payment phase

This table shows the distribution of SMSFs by payment phase in each financial year.

‘Partial retirement phase’ refers to SMSFs where at least one member has received a benefit payment.

‘Full retirement phase’ refers to SMSFs where all members received benefit payments.

Distribution of SMSFs by payment phase at 30 June 2019 by year

Payment phase

2018–19

2017–18

2016–17

2015–16

2014–15

Accumulation

55.4%

58.2%

58.7%

56.1%

54.2%

Partial retirement phase

9.6%

9.2%

10.6%

11.0%

11.1%

Full retirement phase

35.0%

32.6%

30.7%

32.8%

34.7%

Total

100%

100%

100%

100%

100%

Table 13: SMSF fund size and SMSF member account balances, by phase

These tables show:

  • the approximate distribution of SMSFs by phase and asset range
  • the approximate distribution of members’ account balances by closing balance range and phase at 30 June 2019.
Distribution of SMSFs by phase and asset range, 2018–19

Asset range

Accumulation phase

Retirement phase

$0–$50k

7.3%

3.8%

>$50k–$100k

4.5%

0.6%

>$100k–$200k

10.2%

2.1%

>$200k–$500k

29.2%

12.5%

>$500k–$1m

26.3%

23.5%

>$1m–$2m

14.3%

28.7%

>$2m–$5m

6.8%

22.2%

>$5m–$10m

1.2%

5.1%

>$10m–$20m

0.3%

1.2%

>$20m–$50m

<0.1%

0.2%

>$50m

<0.1%

<0.1%

Total

100%

100%
Distribution of SMSF members by member closing balance and payment phase, 2018–19

Member closing balance

Accumulation phase

Retirement phase

$0–$50k

21.4%

6.3%

>$50k–$100k

12.1%

2.6%

>$100k–$200k

19.2%

6.7%

>$200k–$500k

25.5%

22.2%

>$500k–$1m

12.9%

26.3%

>$1m–$1.4m

3.8%

12.1%

>$1.4m–$1.6m

1.1%

4.7%

>$1.6m–$2m

1.5%

6.1%

>$2m–$5m

2.3%

10.5%

>$5m

0.4%

2.3%

Total

100%

100%

Table 14: SMSF trustee type

This table shows the distribution of trustee structure (either corporate or individual trustees) of the SMSF population at 30 June 2020 and for new registrations in the 2018, 2019 and 2020 financial years.

This data is based on SMSF registrations via the Australian Business Register (ABR).

SMSF trustee type

Trustee type

% of all SMSFs at 30 June 2020

2019–20 registrations

2018–19 registrations

2017–18 registrations

Corporate

62.8%

81.3%

81.8%

80.7%

Individual

37.2%

18.7%

18.2%

19.3%

Total

100%

100%

100%

100%

Table 15: Audits performed by SMSF auditors

These tables show, for the 2014–15 to 2018–19 financial years:

  • the total number of SMSF auditors performing audits
  • the distribution of SMSF auditors by number of audits performed
  • the distribution of SMSF population by their SMSF auditor's annual audit completion number
  • the distribution of SMSF assets by their SMSF auditor's annual audit completion number.

The year columns refer to the year being audited, not the year the audit took place.

Number of SMSF auditors performing audits, 2014–15 to 2018–19

Number of auditors

2018–19

2017–18

2016–17

2015–16

2014–15

Total

4,969

5,376

5,719

6,022

6,285
Distribution of SMSF auditors by number of audits carried out, 2014–15 to 2018–19

Number of audits

2018–19

2017–18

2016–17

2015–16

2014–15

<5 funds

16.4%

14.3%

9.9%

10.4%

10.7%

5–50 funds

49.0%

48.3%

34.8%

37.3%

39.7%

51–250 funds

28.2%

30.5%

22.6%

23.7%

24.4%

>250 funds

6.4%

6.8%

32.7%

28.6%

25.3%

Total

100%

100%

100%

100%

100%
Distribution of SMSFs by total audits performed by their auditor, 2014–15 to 2018–19

Number of audits

2018–19

2017–18

2016–17

2015–16

2014–15

<5 funds

0.4%

0.3%

0.3%

0.3%

0.3%

5–50 funds

12.4%

11.8%

12.3%

13.7%

14.9%

51–250 funds

32.8%

33.2%

34.6%

36.7%

38.1%

>250 funds

54.3%

54.6%

52.8%

49.3%

46.7%

Total

100%

100%

100%

100%

100%
Distribution of total assets audited by number of audits, 2014–15 to 2018–19

Number of audits

2018–19

2017–18

2016–17

2015–16

2014–15

<5 funds

0.4%

0.3%

0.3%

0.3%

0.3%

5–50 funds

12.5%

11.8%

12.1%

13.4%

14.4%

51–250 funds

34.1%

34.2%

35.2%

36.9%

38.2%

>250 funds

53.0%

53.7%

52.4%

49.4%

47.1%

Total

100%

100%

100%

100%

100%

Table 16: SMSF auditor fees

These tables show:

  • average and median SMSF auditor fees
  • distribution of SMSFs by audit fee range by financial year.

These figures include reported fees above $0.

Average and median SMSF auditor fees, 2014–15 to 2018–19

SMSF auditor fees

2018–19

2017–18

2016–17

2015–16

2014–15

Average

$686

$690

$695

$704

$760

Median

$550

$550

$550

$550

$550
Distribution of SMSFs by audit fee range, 2014–15 to 2018–19

Audit fee range

2018–19

2017–18

2016–17

2015–16

2014–15

>$0–$499

37.9%

38.4%

37.5%

36.9%

36.5%

$500–$999

50.2%

49.7%

49.9%

50.1%

49.6%

$1,000–$1,999

9.9%

9.8%

10.2%

10.6%

11.0%

$2,000 and above

1.9%

2.1%

2.3%

2.4%

2.8%

Total

100%

100%

100%

100%

100%

Table 17: SMSF annual return lodgments per tax agent

This table shows the distribution of tax agents by the number of SMSF annual returns they lodged each financial year.

Distribution of SMSF annual return lodgments by number of tax agents, 2014–15 to 2018–19

Number of SMSF annual returns lodged per tax agent

No. tax agents
2018–19

No. tax agents
2017–18

No. tax agents
2016–17

No. tax agents
2015–16

No. tax agents
2014–15

1

2,086

2,240

2,303

2,374

2,518

2

1,124

1,177

1,258

1,295

1,311

3

875

916

883

897

887

4

652

671

718

715

691

5

508

529

560

584

554

6–10

1,820

1,900

1,888

1,857

1,898

11–20

1,979

2,021

2,089

2,130

2,066

21–100

3,739

4,162

4,232

4,122

4,097

101–500

889

1,043

1,007

958

913

>500

32

33

28

25

25

Total

13,704

14,692

14,966

14,957

14,960

Table 18: Contraventions reported to the ATO by type

This table shows the types of contraventions that have been reported to the ATO in auditor contravention reports lodged by SMSF auditors since the start of contravention reporting in 2004 (up to 30 June 2020).

Distribution of SMSF contraventions by type, to 30 June 2020

Contravention type

Proportion of total contraventions

Proportion of value of contraventions

Acquisition of assets from related parties

1.2%

2.0%

Administrative type contraventions

11.4%

6.2%

Borrowings

7.8%

8.1%

In-house assets

17.9%

27.6%

Investments at arm's length

7.4%

9.2%

Loan to member/financial assistance

20.4%

13.9%

Operating standard type contraventions

7.8%

5.9%

Other

4.1%

0.9%

Separation of assets

12.7%

22.9%

Sole purpose

9.3%

3.4%

Total

100%

100%

Table 19: Age ranges of SMSF members

This table shows:

  • the approximate age distribution of SMSF members at 30 June 2020
  • the age distribution of members of SMSFs established in each financial year from 2014–15 to 2018–19.

This is based on ABR data.

Age distribution of SMSF members by establishment year of SMSF

Age range

All members
at June 2020

2018–19

2017–18

2016–17

2015–16

2014–15

<25

0.5%

1.3%

1.4%

1.4%

1.5%

1.5%

25–34

3.0%

12.2%

12.9%

10.7%

11.3%

11.1%

35–44

10.9%

31.9%

31.8%

28.6%

29.8%

29.6%

45–49

9.7%

18.0%

17.7%

17.3%

16.9%

16.4%

50–54

11.2%

14.4%

14.3%

15.2%

15.3%

15.6%

55–59

12.8%

11.6%

11.3%

12.7%

12.5%

12.6%

60–64

13.2%

6.2%

6.2%

8.0%

7.8%

7.9%

65–69

12.9%

2.7%

2.9%

3.9%

3.5%

3.8%

70–74

12.2%

1.2%

1.2%

1.7%

1.0%

1.1%

75–84

11.6%

0.5%

0.3%

0.6%

0.4%

0.4%

85+

2.2%

0.0%

0.0%

0.0%

0.0%

0.0%

Total

100%

100%

100%

100%

100%

100%

Average member age

60.0

46.6

46.4

47.9

47.4

47.5

Median member age

60.6

46.2

46.1

47.6

47.1

47.3

Table 20: SMSF members and non-SMSF members

These tables show:

  • the approximate age distribution of SMSF members and non-SMSF members
  • average and median taxable income as well as average and median member account balances for SMSF members by age
  • non-SMSF members’ average and median taxable income.

The age ranges in these tables align with those reported in APRA’s Annual Superannuation Bulletin June 2019 (issued 31 January 2020).

This is based on ABR and SMSF annual return (SAR) data.

Age distribution of SMSF members and non-SMSF members, 30 June 2019

Age range

All SMSF members at 30 June 2019

All non-SMSF members at 30 June 2019

<25

0.7%

11.0%

25–34

3.0%

22.3%

35–44

10.5%

21.9%

45–49

9.6%

10.9%

50–54

11.2%

9.3%

55–59

13.8%

8.4%

60–64

14.4%

6.8%

65–69

14.0%

4.3%

70–74

12.2%

2.6%

75–84

9.7%

1.9%

85+

1.0%

0.4%

Unknown

<0.1%

0.3%

Total

100%

100%
SMSF member taxable income and member balance by age range, 30 June 2019

Age range

Average taxable income

Median taxable income

Average member balance per 2019 SAR

Median member balance per 2019 SAR

<25

$54,803

$40,150

$57,823

$7,158

25–34

$89,131

$74,701

$91,640

$42,459

35–44

$125,901

$89,495

$166,096

$106,912

45–49

$149,274

$91,517

$264,367

$164,757

50–54

$147,695

$87,725

$388,413

$223,449

55–59

$133,770

$79,833

$594,972

$335,923

60–64

$110,543

$56,988

$858,781

$527,281

65–69

$89,506

$37,000

$999,705

$624,942

70–74

$79,686

$30,947

$1,076,959

$616,376

75–84

$85,221

$32,350

$1,125,720

$621,034

85+

$120,972

$47,358

$944,715

$487,827

Unknown

$26,611

$26,611

$723,543

$578,849

Total (all ages)

$115,037

$64,322

$684,652

$320,898
Non-SMSF member(d) taxable income by age range, 2018–19

Age range

Average taxable income

Median taxable income

<25

$33,832

$29,544

25–34

$57,590

$51,992

35–44

$74,951

$61,535

45–49

$80,913

$63,190

50–54

$79,587

$61,721

55–59

$76,061

$59,148

60–64

$63,890

$49,284

65–69

$52,693

$36,956

70–74

$43,539

$28,495

75–84

$39,818

$25,702

85+

$54,258

$37,705

Unknown

$48,847

$42,197

Total

$63,366

$50,144
(d) The non-SMSF member population are those individuals, excluding SMSF members, for whom a 2019 member contribution was received.

Table 21: Gender statistics

These tables show:

  • the average SMSF member account balances by gender and phase
  • the average SMSF member account balance by age and gender at 30 June 2019
  • the distribution of member account balances by gender and closing account balance range at 30 June 2019.

'Retirement' refers to members who have reported receiving a benefit during that year. Average balance for this group includes their total balance, not just the amount held in their retirement account.

To ensure consistency, where applicable, the figures used in this table are those reported in the Self-managed super fund quarterly statistical report – June 2020.

Average SMSF member balance (female), 2014–15 to 2018–19

Phase

2018–19

2017–18

2016–17

2015–16

2014–15

Accumulation

$337,396

$307,138

$278,452

$238,754

$220,548

Retirement

$4,909,225

$4,612,723

$4,356,519

$3,915,520

$3,818,073

All SMSFs

$653,609

$609,326

$577,716

$522,392

$512,427
Average SMSF member balance (male), 2014–15 to 2018–19

Phase

2018–19

2017–18

2016–17

2015–16

2014–15

Accumulation

$435,649

$400,109

$363,732

$319,685

$298,799

Retirement

$5,577,281

$5,281,592

$5,009,888

$4,592,176

$4,530,530

All SMSFs

$784,309

$738,685

$703,276

$649,549

$644,249

Average SMSF member balance by age and gender, 30 June 2019

Age range

Female

Male

Overall

<25

$63,200

$67,807

$65,635

25–34

$95,709

$108,094

$102,100

35–44

$154,818

$198,664

$177,020

45–49

$244,271

$310,165

$277,417

50–54

$363,392

$445,074

$404,607

55–59

$561,027

$670,592

$617,339

60–64

$821,998

$964,309

$895,313

65–69

$994,791

$1,106,037

$1,052,644

70–74

$1,052,705

$1,209,924

$1,137,711

75–84

$1,129,157

$1,262,330

$1,207,117

85+

$1,056,219

$1,116,255

$1,095,200

Unknown

$832,270

$838,387

$771,457

For additional historical data for 2014–15 to 2017–18, see SMSF overview data tables 2018–19 (XLSX, 604KB)This link will download a file.

Distribution of SMSF members by gender and closing balance range, 30 June 2019

Member balance range

Female members

Male members

>$0–$50k

18.9%

12.2%

>$50k–$100k

9.8%

7.0%

>$100k–$200k

14.2%

14.2%

>$200k–$500k

22.1%

26.1%

>$500k–$1m

17.1%

19.3%

>$1m–$2m

12.0%

13.8%

>$2m–$5m

5.0%

6.0%

>$5m

0.9%

1.4%

Total

100%

100%

For additional historical data for 2014–15 to 2017–18, see SMSF overview data tables 2018–19 (XLSX, 604KB)This link will download a file.

Table 22: Asset ranges, by fund size and member account balance

These tables show for each financial year:

  • the approximate distribution of member account balances by account balance range
  • the approximate distribution, by asset range, of SMSFs and value of assets.

These figures are based on SMSF annual returns, and, where applicable, are consistent with those reported in the Self-managed super fund quarterly statistical report – June 2020.

Distribution of members by account balance range, 2014–15 to 2018–19

Member account balance range

2018–19

2017–18

2016–17

2015–16

2014–15

$0–$50k

15.4%

16.3%

17.2%

18.2%

19.2%

>$50k–$100k

8.3%

9.3%

9.8%

10.4%

10.5%

>$100k–$200k

14.2%

15.0%

15.2%

15.5%

15.2%

>$200k–$500k

24.2%

24.0%

23.6%

23.8%

23.4%

>$500k–$1m

18.2%

17.6%

17.3%

16.8%

16.6%

>$1m–$1.4m

7.1%

6.6%

6.3%

5.8%

5.8%

>$1.4m–$1.6m

2.5%

2.4%

2.3%

1.8%

1.8%

>$1.6m–$2m

3.3%

2.9%

2.6%

2.4%

2.4%

>$2m–$5m

5.5%

5.1%

4.9%

4.5%

4.5%

>$5m

1.1%

1.0%

0.9%

0.7%

0.7%

Total

100%

100%

100%

100%

100%
Distribution of funds by asset range, 2014–15 to 2018–19

Fund asset range

2018–19

2017–18

2016–17

2015–16

2014–15

$0–$50k

5.7%

5.7%

6.0%

6.2%

6.8%

>$50k–$100k

2.7%

3.3%

3.7%

4.2%

4.6%

>$100k–$200k

6.5%

7.6%

8.4%

9.3%

9.6%

>$200k–$500k

21.7%

22.9%

23.4%

24.3%

24.0%

>$500k–$1m

25.1%

24.6%

24.3%

24.2%

23.6%

>$1m–$2m

20.8%

19.7%

19.0%

18.2%

18.0%

>$2m–$5m

13.7%

12.6%

11.9%

10.9%

10.8%

>$5m–$10m

2.9%

2.7%

2.5%

2.2%

2.2%

>$10m–$20m

0.7%

0.7%

0.6%

0.4%

0.4%

>$20m–$50m

0.1%

0.1%

0.1%

0.1%

0.1%

>$50m

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Total

100%

100%

100%

100%

100%
Distribution of total fund assets by asset range, 2014–15 to 2018–19

Fund asset range

2018–19

2017–18

2016–17

2015–16

2014–15

$0–$50k

<0.1%

0.1%

0.1%

0.1%

0.1%

>$50k–$100k

0.2%

0.2%

0.2%

0.3%

0.3%

>$100k–$200k

0.7%

0.9%

1.1%

1.3%

1.3%

>$200k–$500k

5.8%

6.4%

6.9%

7.7%

7.7%

>$500k–$1m

13.7%

14.2%

14.7%

15.9%

15.8%

>$1m–$2m

22.4%

22.3%

22.5%

23.3%

23.5%

>$2m–$5m

31.4%

30.3%

30.0%

29.8%

30.1%

>$5m–$10m

14.9%

14.4%

14.2%

13.4%

13.5%

>$10m–$20m

6.9%

6.9%

6.3%

5.3%

5.0%

>$20m–$50m

2.8%

3.0%

2.8%

2.3%

2.0%

>$50m

1.1%

1.3%

1.2%

0.7%

0.6%

Total

100%

100%

100%

100%

100%

Table 23: Average and median returns for SMSFs

These table show the average and median return on assets (ROA) made by SMSFs by financial year.

The ROA for SMSFs is based on SMSF annual return form data.

Average and median returns for SMSFs, 2014–15 to 2018–19

SMSF ROA

2018–19

2017–18

2016–17

2015–16

2014–15

Average

6.8%

7.4%

10.2%

3.1%

6.0%

Median

4.6%

4.0%

5.0%

0.2%

3.2%

Table 24: Average return on assets by fund size and age

These tables show:

  • the average ROA of SMSFs by asset size
  • the average ROA by fund age
  • the distribution of SMSFs by ROA.

ROA is calculated by comparing net earnings and average assets during the financial year to determine the percentage return on assets.

SMSF average ROA by fund size, 2014–15 to 2018–19

Fund size

2018–19

2017–18

2016–17

2015–16

2014–15

$1–$50k

−20.6%

−15.3%

−15.5%

−16.4%

−17.3%

>$50k–$100k

−8.1%

−4.9%

−5.8%

−7.3%

−6.9%

>$100k–$200k

−2.2%

−0.9%

−0.9%

−3.5%

−1.1%

>$200–$500k

3.1%

3.7%

4.4%

0.0%

2.4%

>$500k–$1m

6.0%

6.0%

6.9%

1.5%

4.6%

>$1m–$2m

7.0%

8.4%

8.4%

2.4%

5.7%

>$2m

7.6%

8.1%

13.1%

4.7%

7.5%
SMSF average ROA by fund age, 2014–15 to 2018–19

Fund age

2018–19

2017–18

2016–17

2015–16

2014–15

<2 years

3.5%

5.0%

4.7%

1.7%

3.9%

2–3 years

5.0%

5.9%

8.1%

2.5%

4.8%

4–5 years

5.6%

6.2%

7.8%

2.5%

5.2%

>5 years

7.0%

7.6%

10.6%

3.2%

6.2%
Distribution of SMSFs by ROA, 2014–15 to 2018–19

ROA

2018–19

2017–18

2016–17

2015–16

2014–15

<–20%

3.4%

2.9%

3.2%

3.8%

3.8%

–20% to <–15%

1.1%

1.0%

1.2%

1.7%

1.3%

–15% to <–10%

1.9%

1.9%

2.2%

3.9%

2.4%

–10% to <–5%

4.4%

4.4%

4.5%

10.4%

5.3%

–5% to 0%

13.1%

14.3%

13.3%

28.4%

15.4%

>0% to 5%

28.8%

31.8%

25.6%

34.2%

35.5%

>5% to 10%

27.7%

25.2%

24.8%

9.0%

23.9%

>10%

19.5%

18.4%

25.2%

8.5%

12.2%

Total

100%

100%

100%

100%

100%

Table 25: Expenses

These tables show:

  • average and median total expenses for the 2015 to 2019 financial years
  • average and median total expenses by SMSF asset range for the 2015 to 2019 financial years
  • average and median operating expenses for the 2015 to 2019 financial years
  • average and median expenses by expense type for the 2015 to 2019 financial years
  • average and median expenses by expense type and asset range for the 2019 financial year, including the number of SMSFs reporting at that label.

The averages and medians in these tables are based on only those SMSFs that report an expense at the relevant label and are therefore a subset of the total population. These figures cannot be compared to averages or medians calculated at the total population level (other than when all expenses are included, which means the total population is included).

Total expenses – average and median(e)

Total expenses

2018–19

2017–18

2016–17

2015–16

2014–15

Average

$15,472

$14,968

$14,152

$13,919

$12,377

Median

$8,116

$7,703

$7,262

$7,082

$6,145
(e) Total expenses include deductible and non-deductible expenses reported at the following SMSF annual return labels: interest expenses within Australia, interest expenses overseas, insurance premiums – members, SMSF auditor fee, investment expenses, management and administration expenses, forestry managed investment scheme expense and other amounts, and SMSF supervisory levy.
Average total expenses by SMSF asset range

Asset range

2018–19

2017–18

2016–17

2015–16

2014–15

>$0–$50k

$4,245

$3,813

$3,589

$3,533

$3,273

>$50k–$100k

$5,853

$5,574

$5,504

$5,630

$5,016

>$100k–$200k

$10,545

$10,287

$9,938

$9,762

$8,639

>$200k–$500k

$12,844

$12,542

$11,821

$11,418

$10,064

>$500k–$1m

$12,500

$12,298

$11,912

$11,850

$10,763

>$1m–$2m

$14,577

$14,645

$14,701

$15,312

$13,835

>$2m

$29,777

$29,905

$28,782

$28,865

$25,938

All funds

$15,472

$14,968

$14,152

$13,919

$12,377
Median total expenses by SMSF asset range

Asset range

2018–19

2017–18

2016–17

2015–16

2014–15

>$0–$50k

$1,965

$1,813

$1,787

$1,882

$1,797

>$50k–$100k

$2,723

$2,619

$2,694

$2,893

$2,627

>$100k–$200k

$4,686

$4,669

$4,676

$4,772

$4,063

>$200k–$500k

$7,140

$6,929

$6,655

$6,584

$5,623

>$500k–$1m

$8,090

$7,853

$7,659

$7,741

$6,832

>$1m–$2m

$9,853

$9,662

$9,451

$9,591

$8,568

>$2m

$16,162

$15,988

$15,443

$15,026

$13,471

All funds

$8,116

$7,703

$7,262

$7,082

$6,145
Operating expenses – average and median(f)

Operating expenses

2018–19

2017–18

2016–17

2015–16

2014–15

Average

$6,450

$6,104

$5,953

$6,205

$5,513

Median

$4,069

$3,881

$3,823

$3,915

$3,617
(f) Operating expenses include deductible and non-deductible expenses reported at the following SMSF annual return labels: approved auditor fee, management and administration expenses, other amounts and SMSF supervisory levy.
Average expenses by expense type, 2014–15 to 2018–19

Expense type

2018–19

2017–18

2016–17

2015–16

2014–15

Interest expense within Australia

$16,872

$16,618

$16,100

$16,424

$14,778

Interest expense overseas

$13,207

$13,745

$14,461

$16,921

$10,150

Insurance premiums

$6,797

$6,752

$6,563

$6,391

$6,136

SMSF auditor fee

$675

$682

$688

$700

$756

Investment Expenses

$10,254

$10,040

$9,506

$9,059

$9,148

Management and admin expenses

$4,449

$4,461

$4,263

$4,249

$4,142

Forestry managed investment scheme

$5,711

$5,592

$5,765

$7,884

$5,302

Supervisory levy

$259

$259

$259

$259

$259

Other deductions

$2,878

$2,564

$2,648

$3,115

$2,772

Total expenses

$15,472

$14,968

$14,152

$13,919

$12,377
Median expense by expense type, 2014–15 to 2018–19

Expense type

2018–19

2017–18

2016–17

2015–16

2014–15

Interest expense within Australia

$13,372

$12,930

$11,958

$11,457

$10,133

Interest expense overseas

$8,588

$9,820

$8,648

$9,172

$5,075

Insurance premiums

$4,625

$4,539

$4,395

$4,213

$4,011

SMSF auditor fee

$550

$550

$550

$550

$550

Investment expenses

$5,659

$5,331

$4,944

$4,501

$4,642

Management and admin expenses

$2,884

$2,783

$2,713

$2,668

$2,688

Forestry managed investment scheme

$2,524

$2,445

$2,304

$2,224

$2,366

Supervisory levy

$259

$259

$259

$259

$259

Other deductions

$362

$330

$369

$518

$422

Total expenses

$8,116

$7,703

$7,262

$7,082

$6,145

The following two tables provide further granularity, breaking down the average and the median expense for each expense type into fund size ranges. They also include the number of funds who reported an amount against each of these expense labels on the SMSF annual return.

Average expenses by expense type and range, year ended 30 June 2019

Expense type

$1–$50k

>$50k–$100k

>$100k–$200k

>$200k–$500k

>$500k–$1m

>$1m–$2m

>$2m

All funds

No. of funds reporting this expense

Interest expense within Australia

$9,829

$11,883

$12,857

$14,730

$16,706

$19,190

$33,665

$16,872

57,020

Interest expense overseas

$421

$6,483

$9,275

$13,701

$14,394

$9,420

$20,501

$13,207

304

Insurance premiums

$6,131

$4,518

$4,761

$5,622

$7,268

$9,375

$12,300

$6,797

88,662

SMSF auditor fee

$555

$567

$586

$608

$641

$693

$841

$675

332,736

Investment expenses

$2,751

$3,867

$5,698

$6,403

$6,996

$9,416

$21,272

$10,254

226,752

Management and admin expenses

$1,522

$1,762

$2,276

$2,957

$3,929

$5,126

$8,250

$4,449

413,274

Forestry managed investment scheme

$608

$3,630

$3,461

$3,802

$4,361

$4,148

$14,954

$5,711

301

Supervisory levy

$259

$259

$259

$259

$259

$259

$259

$259

431,896

Other deductions

$1,246

$1,186

$1,479

$1,684

$2,075

$2,232

$6,896

$2,878

216,765

Total expenses

$4,245

$5,853

$10,545

$12,844

$12,500

$14,577

$29,777

$15,472

431,896
Median expenses by expense type and range, year ended 30 June 2018

 

$1–$50k

>$50k–$100k

>$100k–$200k

>$200k–$500k

>$500k–$1m

>$1m–$2m

>$2m

All funds

No. of funds reporting this expense

Interest expense within Australia

$8,690

$12,224

$13,149

$13,880

$13,658

$12,466

$6,284

$13,372

57,020

Interest expense overseas

$120

$4,368

$8,064

$11,958

$12,239

$954

$141

$8,588

304

Insurance premiums

$3,501

$3,047

$3,485

$4,210

$5,288

$6,423

$7,840

$4,625

88,662

SMSF auditor fee

$451

$478

$495

$549

$550

$571

$659

$550

332,736

Investment expenses

$159

$761

$4,251

$4,731

$5,033

$6,489

$11,027

$5,659

226,752

Management and admin expenses

$1,149

$1,359

$1,841

$2,392

$2,854

$3,451

$4,785

$2,884

413,274

Forestry managed investment scheme

$512

$1,566

$1,471

$2,532

$2,702

$2,492

$5,988

$2,524

301

Supervisory levy

$259

$259

$259

$259

$259

$259

$259

$259

431,896

Other deductions

$379

$429

$518

$518

$319

$259

$312

$362

216,765

Total expenses

$1,965

$2,723

$4,686

$7,140

$8,090

$9,853

$16,162

$8,116

431,896

Table 26: Average expense ratios

These tables show:

  • SMSF average expense ratios for each financial year
  • distribution of SMSFs by average expense ratio range at 30 June 2019

The average expense ratios of an SMSF are calculated by:

  • summing various deductible and non-deductible expense labels from the SMSF’s annual return
  • comparing this total to the SMSF’s average assets to determine a ratio of expenses to assets.
SMSF average expense ratios, 2014–15 to 2018–19

Expense type

2018–19

2017–18

2016–17

2015–16

2014–15

Operating

0.5%

0.5%

0.5%

0.6%

0.5%

Total

1.2%

1.2%

1.2%

1.3%

1.2%
Distribution of SMSFs by average expense ratio range, 2018–19

Ratio range

SMSFs with operating expenses in range

SMSFs with total expenses in range

<=0.25%

22.1%

12.1%

>0.25–0.5%

20.9%

13.2%

>0.5–0.75%

13.7%

10.5%

>0.75–1%

9.6%

8.9%

>1–1.5%

12.7%

14.0%

>1.5–2%

7.3%

9.1%

>2–3%

6.8%

9.7%

>3–5%

3.9%

7.9%

>5%

3.0%

14.5%

Total

100%

100%

For additional historical data for 2015 to 2018, see SMSF overview data tables 2018–19 (XLSX, 604KB)This link will download a file.

Table 27: Average expense ratios by fund size

This table shows average SMSF expense ratios by fund size for total expenses and operating expenses at 30 June 2019.

SMSF average expense ratios by fund size, 2018–19

Fund size

Operating expenses

Total expenses

$1–$50k

9.2%

17.0%

>$50k–$100k

3.5%

7.7%

>$100k–$200k

2.3%

6.9%

>$200k–$500k

1.3%

3.8%

>$500k–$1m

0.8%

1.7%

>$1m–$2m

0.5%

1.0%

>$2m

0.3%

0.7%

For additional historical data for 2015 to 2018, see SMSF overview data tables 2018–19 (XLSX, 604KB)This link will download a file.

Table 28: Asset allocations

These tables show:

  • the value and proportion of assets held by the SMSF population for each type of asset listed on the 2019 SMSF annual return
  • the mean and median value for each of those asset types
  • a breakdown of assets reported at limited recourse borrowing arrangement labels by asset type
  • SMSF investment in real property.

SMSFs will have different asset allocations in individual cases.

To ensure consistency, the total monetary amounts used in this table are those reported in the Self–managed super fund quarterly statistical report – June 2020.

SMSF asset allocations, 30 June 2019

Asset type

All
($m)

% of total SMSF assets

% of SMSF population holding these assets

Mean
($)(h)

Median
($)(i)

Listed trusts

43,306

5.8%

33.4%

224,843

98,080

Unlisted trusts

85,704

11.4%

23.2%

651,389

271,811

Insurance policy

115

<0.1%

0.1%

307,903

148,037

Other managed investments

39,354

5.3%

11.7%

586,466

250,000

Cash and term deposits

158,316

21.1%

96.6%

286,352

96,306

Debt securities

11,675

1.6%

8.6%

236,849

101,973

Loans

5,295

0.7%

3.0%

313,091

100,000

Listed shares

214,778

28.7%

59.3%

628,680

294,184

Unlisted shares

8,100

1.1%

6.7%

216,983

37,904

Limited recourse borrowing arrangements

45,982

6.1%

10.8%

758,196

500,000

Non–residential real property

67,272

9.0%

11.4%

1,040,734

620,000

Residential real property

35,791

4.8%

9.8%

648,095

466,156

Collectables and personal use assets

355

<0.1%

0.5%

122,092

46,835

Other assets

20,087

2.7%

83.6%

42,397

9,657

Crypto-currency

142

<0.1%

0.34%

75,213

28,693

Overseas shares

8,581

1.1%

6.6%

228,239

53,663

Overseas non-residential real property

134

<0.1%

<0.1%

499,938

149,519

Overseas residential real property

287

<0.1%

0.2%

319,607

167,662

Overseas managed investments

1,254

0.2%

0.7%

296,684

108,912

Other overseas assets

2,549

0.3%

2.4%

188,031

61,432

Total Australian and overseas Assets

749,079

100%

n/a

1,349,141

744,705

Borrowings

22,884

3.1%

11.7%

347,831

260,882

Other liabilities

5,484

0.7%

59.4%

16,492

3,071

Net Australian and overseas assets

720,711

96.2%

n/a

1,297,058

689,129
(h) Mean values are only applicable to the funds that held those types of assets.(i) Median values are only applicable to the funds that held those types of assets.
SMSF limited recourse borrowing arrangement asset allocations, 30 June 2019

LRBA investment by asset type

Total
($m)

% of total SMSF assets

% of SMSFs holding these assets

Mean
($)(j)

Median
($)(k)

Australian residential real property

23,811

3.2%

7.5%

564,400

461,057

Australian non-residential real property

20,318

2.7%

2.9%

1,237,773

715,000

Overseas real property

37

<0.1%

<0.1%

493,440

243,912

Australian shares

487

0.1%

0.3%

325,199

187,829

Overseas shares

11

<0.1%

<0.1%

309,733

105,570

Other

1,317

0.2%

0.3%

770,859

335,000

Total(l)

45,982

6.1%

11.0%

758,196

500,000
(j) Mean values are only applicable to the funds that held those types of assets.(k) Median values are only applicable to the funds that held those types of assets.(l) The total represents the proportion of total SMSFs holding all LRBA assets. There is a small proportion of SMSFs that hold more than one type of LRBA asset.
Total LRBA assets and proportion of SMSFs reporting LRBAs, 2014–15 to 2018–19

LRBA assets

2018–19

2017–18

2016–17

2015–16

2014–15

Total LRBA assets ($m)

45,982

46,060

41,096

26,640

21,081

Proportion of SMSFs reporting LRBAs (%)

10.8%

10.7%

9.6%

7.3%

6.3%
SMSF investment in real property and borrowings, 2014–15 to 2018–19

Investment type

2018–19
($m)

2017–18
($m)

2016–17
($m)

2015–16
($m)

2014–15
($m)

Non-residential real property

67,272

66,601

66,175

65,760

63,108

LRBA non-residential real property

20,318

20,484

18,570

11,933

9,350

Residential real property

35,791

36,194

34,371

28,496

23,064

LRBA residential real property

23,811

23,647

20,662

12,930

9,837

Total SMSF investment in property

147,192

146,926

139,778

119,119

105,359

Total borrowings

22,884

24,543

23,339

20,899

17,903

Table 29: SMSF population holding assets

These tables show the:

  • distribution of the SMSF population holding certain assets
  • distribution of total SMSF assets by asset type.
SMSF population holding assets, by asset type

Asset type

2018–19

2017–18

2016–17

2015–16

2014–15

Listed trusts

33.4%

30.7%

28.8%

28.5%

27.7%

Unlisted trusts

23.2%

23.0%

22.4%

21.7%

20.3%

Other managed investments

11.7%

11.1%

10.5%

10.8%

11.2%

Cash and term deposits

96.6%

96.9%

97.0%

97.1%

97.0%

Listed shares

59.3%

58.6%

58.5%

59.5%

59.7%

Non-residential real property

11.4%

11.6%

11.9%

13.8%

14.5%

Residential real property

9.8%

10.0%

9.8%

9.1%

8.1%

Limited recourse borrowing arrangements

10.8%

10.7%

9.6%

7.3%

6.3%

All other assets

112.8%

111.2%

108.6%

107.3%

104.0%
Distribution of SMSF asset holdings by asset type

Asset type

2018–19
(%)

2017–18
(%)

2016–17
(%)

2015–16
(%)

2014–15
(%)

Listed trusts

5.8

4.8

4.2

4.4

4.1

Unlisted trusts

11.4

11.9

11.1

10.4

9.6

Other managed investments

5.3

4.9

4.6

4.9

4.9

Cash and term deposits

21.1

21.3

24.0

24.4

25.3

Listed shares

28.7

27.9

27.2

28.1

29.8

Non-residential real property

9.0

9.4

9.9

11.0

11.1

Residential real property

4.8

5.1

5.1

4.8

4.1

Limited recourse borrowing arrangements

6.1

6.5

6.1

4.5

3.7

All other assets

7.8

8.0

7.8

7.6

7.4

Total

100

100

100

100

100

For additional tables on changes in distribution of SMSF asset holdings from 2015 to 2019, see SMSF overview data tables 2018–19 (XLSX, 604KB)This link will download a file.

Table 30: SMSF asset allocations, by fund phase

This table shows the distribution of assets held by SMSFs in accumulation and retirement phases for each type of asset listed on the 2018 SMSF annual return.

SMSF asset allocation by fund phase, 30 June 2019

Asset type

Accumulation phase
(%)

Retirement phase
(%)

Listed trusts

4.7

6.3

Unlisted trusts

10.7

12.0

Insurance policy

<0.1

<0.1

Other managed investments

4.6

5.6

Cash and term deposits

20.8

21.2

Debt securities

0.8

1.9

Loans

0.7

0.7

Listed shares

20.4

32.8

Unlisted shares

1.5

0.9

Limited recourse borrowing arrangements

15.1

1.4

Non-residential real property

9.4

8.9

Residential real property

6.4

4.0

Collectables and personal use assets

0.1

<0.1

Other assets

2.8

2.7

Crypto-currency

<0.1

<0.1

Overseas shares

1.3

1.1

Overseas non-residential real property

<0.1

<0.1

Overseas residential real property

0.1

<0.1

Overseas managed investments

0.2

0.2

Other overseas assets

0.3

0.3

Total Australian and overseas assets

100

100

Table 31: Asset concentrations

These tables show the distribution of SMSFs that have 50% or more of their assets by value invested in one particular asset class.

For example, at 30 June 2019, 42.9% of SMSFs held 80% or more of their assets in one particular asset class, representing 28.2% of total SMSF assets.

An asset concentration of 100% indicates all assets are held within a single asset class.

Distribution of SMSFs by asset concentration, 2014–15 to 2018–19

Asset concentration

2018–19
(%)

2017–18
(%)

2016–17
(%)

2015–16
(%)

2014–15
(%)

100%

8.6

9.4

10.5

10.9

11.6

>=90%

29.0

30.6

30.8

31.2

31.6

>=80%

42.9

44.6

44.6

44.8

45.2

>=70%

55.6

57.2

57.3

57.5

57.9

>=60%

68.8

70.3

70.3

70.6

71.0

>=50%

83.5

84.7

84.8

85.2

85.8
Distribution of SMSF assets by asset concentration, 2014–15 to 2018–19

Asset concentration

2018–19
(%)

2017–18
(%)

2016–17
(%)

2015–16
(%)

2014–15
(%)

100%

3.8

4.0

4.7

4.7

4.9

>=90%

18.0

19.0

18.9

19.3

19.4

>=80%

28.2

29.2

29.1

29.6

29.8

>=70%

37.7

38.7

38.6

39.1

39.4

>=60%

47.0

48.0

47.9

48.5

48.9

>=50%

56.4

57.3

57.3

58.0

58.6

Table 32: Asset concentration by fund size

This table shows, by fund size, the distribution of SMSFs that have 50% or more of their assets by value invested in one particular asset class.

SMSF asset concentration by fund size, 30 June 2019

Fund size

SMSFs with 100% concentration

>=90%

>=80%

>=70%

>=60%

>=50%

$1–$50k

39.5%

63.1%

73.9%

82.4%

89.8%

97.2%

>$50k–$100k

22.3%

52.2%

65.3%

75.9%

85.1%

94.8%

>$100k–$200k

18.7%

45.4%

59.6%

71.2%

82.2%

93.2%

>$200k–$500k

11.1%

37.8%

54.5%

67.3%

78.6%

90.0%

>$500k–$1m

6.4%

27.9%

43.1%

56.7%

70.4%

85.3%

>$1m–$2m

4.6%

20.3%

32.6%

45.5%

60.3%

78.2%

>$2m–$5m

2.6%

14.8%

25.9%

38.6%

53.7%

72.3%

>$5m–$10m

1.5%

12.4%

23.0%

35.5%

50.1%

68.5%

>$10m

1.3%

13.7%

23.2%

35.7%

49.7%

66.6%

Table 33: Asset concentration by asset type

This table shows, by asset class, the distribution of SMSFs that have 50% or more of their assets by value invested in that asset class.

SMSF asset concentration by type, 30 June 2019

Asset type

% of SMSFs with 100% of asset class

>=90%

>=80%

>=70%

>=60%

>=50%

Listed trusts

<0.1%

0.4%

0.7%

1.2%

1.8%

2.6%

Unlisted trusts

0.2%

1.8%

3.1%

4.3%

5.7%

7.3%

Insurance policy

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other managed investments

0.1%

1.4%

2.1%

2.7%

3.3%

4.0%

Cash and term deposits

7.1%

10.6%

12.4%

14.4%

16.8%

19.9%

Debt securities

<0.1%

<0.1%

0.1%

0.1%

0.1%

0.2%

Loans

<0.1%

0.3%

0.4%

0.5%

0.6%

0.7%

Listed shares

0.2%

5.1%

9.5%

14.0%

18.7%

23.7%

Unlisted shares

<0.1%

0.2%

0.4%

0.5%

0.6%

0.7%

Limited recourse borrowing arrangements

0.3%

4.7%

7.0%

8.3%

9.2%

9.8%

Non-residential real property

0.2%

1.9%

3.2%

4.4%

5.6%

6.7%

Residential real property

0.1%

1.6%

2.6%

3.4%

4.2%

5.1%

Collectables and personal use assets

<0.1%

<0.1%

0.1%

0.1%

0.1%

0.1%

Other assets

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Crypto-currency

0.4%

0.9%

1.2%

1.4%

1.7%

2.0%

Overseas shares

<0.1%

0.1%

0.1%

0.2%

0.2%

0.3%

Overseas non-residential real property

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Overseas residential real property

<0.1%

<0.1%

0.1%

0.1%

0.1%

0.1%

Overseas managed investments

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other overseas assets

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Total

8.6%

29.0%

42.9%

55.6%

68.7%

83.4%

Table 34: Asset concentration by phase

This table shows the distribution of SMSFs in accumulation or retirement phase that have 50% or more of their assets by value invested in one particular asset class.

SMSF asset concentration by phase, 30 June 2019

Asset concentration

% of SMSFs in accumulation phase

% of SMSFs in retirement phase

100%

10.7

6.1

>=90%

35.1

21.5

>=80%

50.4

33.7

>=70%

63.0

46.5

>=60%

75.0

61.0

>=50%

87.7

78.3

QC64920