The main source of data for these tables is 2020–21 SMSF annual returns that have been lodged.
How we estimate and revise results
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 2022.
You can access SMSF overview data tables on data.gov.auExternal Link
See more about statistics on the taxation of SMSFs and other entities.
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 2022.
|
|
2021–22 |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
|---|---|---|---|---|---|
|
Establishments |
27,713 |
25,787 |
21,694 |
20,309 |
25,311 |
|
Wind ups |
2,057 |
15,426 |
17,172 |
17,646 |
25,142 |
|
Net establishments |
25,656 |
10,361 |
4,522 |
2,663 |
169 |
|
Total SMSFs |
603,432 |
577,776 |
567,415 |
562,893 |
560,230 |
|
Total members |
1,123,430 |
1,075,799 |
1,063,486 |
1,055,599 |
1,050,448 |
|
Total assets ($m) |
$868,703 |
$843,746 |
$720,531 |
$717,915 |
$683,136 |
|
SMSFs |
2021–22 |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|---|
|
Total SMSFs |
603,432 |
577,776 |
567,415 |
562,893 |
560,230 |
560,061 |
|
Growth |
4.4% |
1.8% |
0.8% |
0.5% |
0.0% |
– |
Table 2: Australian superannuation sector
This table shows:
- total assets held in APRA-regulated funds, SMSFs and other funds at 30 June 2017 and 30 June 2022
- the percentage change from June 2017 to 2022
- the proportion for each fund type at 30 June 2022.
These figures are sourced from the APRA June 2022 Quarterly Superannuation Performance Statistics, 2022, Key Statistics Table and the Self-managed super fund quarterly statistical report – June 2022.
|
Fund Type |
Assets at 30 June 2022 ($b) |
Proportion (%) 30 June 2022 |
Assets at 30 June 2021 ($b) |
Assets at 30 June 2017 ($b) |
Change in assets from 2017 to 2022 (%) |
|---|---|---|---|---|---|
|
Corporate |
$56.3 |
1.7% |
$61.1 |
$58.6 |
-4% |
|
Industry |
$1,076.6 |
32.5% |
$916.8 |
$543.1 |
98% |
|
Public Sector |
$467.5 |
14.1% |
$597.5 |
$425.0 |
10% |
|
Retail |
$638.2 |
19.3% |
$688.7 |
$588.7 |
8% |
|
SMSFs |
$868.7 |
26.2% |
$843.7 |
$663.2 |
31% |
|
Other(a) |
$205.2 |
6.2% |
$220.1 |
$191.9 |
7% |
|
Total |
$3,312.5 |
100% |
$3,327.9 |
$2,470.5 |
34% |
(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 in years from establishment |
Proportion of SMSFs |
|---|---|
|
In 1st year of establishment |
4.4% |
|
>1 to 2 years |
4.0% |
|
>2 to 3 years |
3.3% |
|
>3 to 5 years |
6.8% |
|
>5 to 10 years |
18.0% |
|
>10 years |
63.5% |
|
N/A |
0.0% |
|
Total |
100% |
|
Average SMSF age (years) |
12 |
|
Median SMSF age (years) |
12 |
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
- average period in years from establishment of SMSFs to wind-up.
|
Fund size |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
>$0 to $50k |
15.3% |
18.2% |
18.2% |
20.4% |
21.9% |
|
>$50k to $100k |
7.3% |
8.5% |
9.1% |
9.5% |
10.4% |
|
>$100k to $200k |
13.4% |
13.6% |
15.6% |
17.1% |
17.4% |
|
>$200k to $500k |
30.6% |
29.1% |
29.7% |
29.0% |
27.9% |
|
>$500k to $1m |
21.1% |
19.1% |
17.6% |
16.4% |
15.2% |
|
>$1m to $2m |
9.2% |
8.5% |
7.6% |
6.0% |
5.1% |
|
>$2m to $5m |
2.7% |
2.6% |
2.0% |
1.5% |
1.7% |
|
>$5m |
0.3% |
0.3% |
0.3% |
0.2% |
0.3% |
|
Total |
100% |
100% |
100% |
100% |
100% |
|
Fund Phase |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Accumulation |
56.4% |
59.8% |
59.8% |
75.0% |
67.0% |
|
Retirement |
43.6% |
40.2% |
40.2% |
25.0% |
33.0% |
|
Total |
100% |
100% |
100% |
100% |
100% |
|
Fund phase |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Accumulation |
$339,933 |
$314,944 |
$297,720 |
$265,594 |
$262,786 |
|
Retirement |
$682,208 |
$677,003 |
$616,849 |
$531,935 |
$562,451 |
|
All SMSFs |
$502,176 |
$475,774 |
$437,803 |
$379,313 |
$373,686 |
|
Fund phase |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Accumulation |
$184,426 |
$159,122 |
$152,498 |
$136,472 |
$129,753 |
|
Retirement |
$480,781 |
$466,962 |
$423,523 |
$376,535 |
$365,015 |
|
All SMSFs |
$320,053 |
$281,290 |
$251,371 |
$220,228 |
$199,750 |
|
Average |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Number of Years |
12.8 |
11.5 |
11.0 |
11.2 |
10.0 |
Table 5: Average and median asset sizes
This table shows the average and median member account balances and SMSF assets at the end of each financial year.
To ensure consistency, the figures used in the first table are those reported in the Self-managed super fund quarterly statistical report – June 2022.
|
Assets |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Average assets per member |
$790,808 |
$683,230 |
$684,222 |
$653,999 |
$625,331 |
|
Median assets per member |
$472,824 |
$399,457 |
$399,121 |
$379,573 |
$362,303 |
|
Average assets per SMSF |
$1,472,106 |
$1,281,515 |
$1,284,817 |
$1,229,643 |
$1,177,420 |
|
Median assets per SMSF |
$834,514 |
$709,260 |
$708,810 |
$674,183 |
$644,021 |
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.
|
Assets |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Average assets per member account balance |
$216,658 |
$204,830 |
$212,309 |
$207,492 |
$261,607 |
|
Median assets per member account balance |
$138,267 |
$125,825 |
$127,236 |
$121,200 |
$137,778 |
|
Average assets per SMSF |
$398,793 |
$380,830 |
$403,199 |
$395,506 |
$489,316 |
|
Median assets per SMSF |
$264,036 |
$250,034 |
$265,540 |
$255,932 |
$297,253 |
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.
|
Fund asset range |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
$0 to $50k |
10.8% |
11.9% |
11.3% |
12.8% |
10.5% |
|
>$50k to $100k |
9.3% |
9.5% |
9.6% |
9.7% |
8.1% |
|
>$100k to $200k |
19.1% |
19.9% |
18.2% |
18.2% |
17.3% |
|
>$200k to $500k |
35.1% |
34.7% |
35.3% |
34.6% |
32.2% |
|
>$500k to $1m |
18.8% |
17.6% |
18.3% |
18.0% |
20.3% |
|
>$1m to $2m |
5.4% |
5.2% |
5.7% |
5.5% |
8.7% |
|
>$2m to $5m |
1.3% |
1.0% |
1.6% |
1.2% |
2.5% |
|
>$5m |
0.1% |
0.1% |
0.1% |
0.2% |
0.3% |
|
Total |
100% |
100% |
100% |
100% |
100% |
Table 8: Contribution flows
These tables show, for each financial year:
- total member and employer contributions to SMSFs
- mean and median contributions
- contributions to SMSFs as a proportion of total super contributions.
To ensure consistency, the total contributions figures used are those reported in the Self-managed super fund quarterly statistical report – June 2022.
For additional data on member and employer contributions by member age and gender, access SMSF overview data tables on data.gov.auExternal Link.
|
Contribution type |
2020–21 ($m) |
2019–20 ($m) |
2018–19 ($m) |
2017–18 ($m) |
2016–17 ($m) |
|---|---|---|---|---|---|
|
Member |
$13,467 |
$12,129 |
$11,561 |
$10,938 |
$32,180 |
|
Employer |
$5,440 |
$5,374 |
$5,397 |
$5,652 |
$6,965 |
|
Contribution type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Member |
$39,398 |
$36,702 |
$35,513 |
$33,563 |
$89,995 |
|
Employer |
$12,879 |
$12,550 |
$12,818 |
$13,121 |
$16,133 |
|
Contribution type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Member |
$18,800 |
$15,000 |
$15,000 |
$14,538 |
$22,332 |
|
Employer |
$10,209 |
$10,000 |
$10,365 |
$10,726 |
$12,000 |
|
Contribution type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Member |
32.0% |
33.3% |
33.6% |
34.7% |
50.4% |
|
Employer |
5.2% |
5.3% |
5.5% |
6.1% |
7.5% |
|
Total SMSF |
12.9% |
12.6% |
12.9% |
13.3% |
25.1% |
Table 9: Rollover flow (into and out of SMSFs)
These tables show:
- the total value of rollovers into and out of SMSFs during each financial year
- the mean and median amounts in those periods
- rollovers by fund size.
To ensure consistency, the total rollover figures used are those reported in the Self-managed super fund quarterly statistical report – June 2022.
|
Rollover type |
2020–21 ($m) |
2019–20 ($m) |
2018–19 ($m) |
2017–18 ($m) |
2016–17 ($m) |
|---|---|---|---|---|---|
|
Inward |
$13,124 |
$12,287 |
$12,277 |
$14,463 |
$17,289 |
|
Outward |
$9,791 |
$9,063 |
$8,901 |
$8,114 |
$8,449 |
|
Rollover type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Inward |
$166,980 |
$144,101 |
$189,034 |
$210,924 |
$238,781 |
|
Outward |
$392,084 |
$374,635 |
$363,918 |
$358,194 |
$439,561 |
|
Rollover type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Inward |
$28,255 |
$19,405 |
$50,000 |
$70,000 |
$77,158 |
|
Outward |
$163,556 |
$130,779 |
$140,000 |
$127,667 |
$119,859 |
|
Fund size |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
$0 |
0.9% |
1.0% |
0.9% |
0.7% |
0.5% |
|
>$0 to $50k |
0.8% |
0.7% |
0.6% |
0.7% |
0.5% |
|
>$50k to $100k |
1.3% |
1.3% |
1.3% |
1.3% |
1.1% |
|
>$100k to $200k |
5.3% |
5.3% |
4.8% |
5.1% |
4.9% |
|
>$200k to $500k |
20.5% |
19.9% |
19.8% |
20.2% |
17.6% |
|
>$500k to $1m |
22.6% |
22.4% |
22.3% |
22.6% |
18.4% |
|
>$1m to $2m |
20.6% |
21.1% |
21.2% |
21.5% |
18.8% |
|
>$2m to $5m |
19.4% |
18.8% |
20.8% |
18.7% |
22.7% |
|
>$5m to $10m |
5.2% |
5.3% |
5.3% |
5.4% |
9.0% |
|
>$10m to $20m |
2.6% |
3.3% |
2.2% |
2.7% |
4.4% |
|
>$20m to $50m |
0.8% |
0.8% |
0.8% |
0.4% |
1.9% |
|
>$50m |
<0.1% |
0.1% |
0.1% |
0.5% |
0.3% |
|
Total |
100% |
100% |
100% |
100% |
100% |
|
Fund size |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
$0 |
42.1% |
36.8% |
36.9% |
32.2% |
21.5% |
|
>$0 to $50k |
13.0% |
12.6% |
13.7% |
11.7% |
8.4% |
|
>$50k to $100k |
1.3% |
1.7% |
1.9% |
1.7% |
1.5% |
|
>$100k to $200k |
1.5% |
1.9% |
2.1% |
1.9% |
1.5% |
|
>$200k to $500k |
4.0% |
5.1% |
4.8% |
4.7% |
4.1% |
|
>$500k to $1m |
6.6% |
7.8% |
7.5% |
8.2% |
6.3% |
|
>$1m to $2m |
10.4% |
11.4% |
10.9% |
12.1% |
11.3% |
|
>$2m to $5m |
13.6% |
14.3% |
14.2% |
17.1% |
24.7% |
|
>$5m to $10m |
4.0% |
4.0% |
4.9% |
5.1% |
11.3% |
|
>$10m to $20m |
1.8% |
3.0% |
2.4% |
2.7% |
6.5% |
|
>$20m to $50m |
0.9% |
1.1% |
0.5% |
1.6% |
2.4% |
|
>$50m |
0.6% |
0.2% |
0.2% |
1.0% |
0.5% |
|
Total |
100% |
100% |
100% |
100% |
100% |
Table 10: Benefit payments
These tables show the total, average and median benefit payments from SMSFs during each financial year. Benefit payments include income stream benefits, lump sum benefits, transition-to-retirement and combination of payments.
The figures for total benefit payments are consistent with those reported in the Self-managed super fund quarterly statistical report – June 2022. The average and median figures are based on SMSF annual returns.
|
SMSF benefit payments |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Total ($m) |
$31,353 |
$31,741 |
$33,610 |
$32,455 |
$41,986 |
|
Average ($) |
$99,684 |
$106,069 |
$118,748 |
$114,485 |
$145,092 |
|
Median ($) |
$47,000 |
$54,000 |
$69,000 |
$66,000 |
$66,450 |
|
Type of benefit |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Income stream |
55.8% |
58.7% |
64.1% |
64.8% |
77.8% |
|
Lump sum |
42.2% |
38.7% |
32.5% |
30.7% |
13.8% |
|
Transition to retirement |
1.9% |
2.6% |
3.3% |
4.5% |
8.4% |
|
Total |
100% |
100% |
100% |
100% |
100% |
|
Age range |
% of members receiving benefit payments |
Average member benefit payment |
Average member balance(b) |
|---|---|---|---|
|
<55 |
4.7% |
$18,657 |
$438,572 |
|
55 to 59 |
2.4% |
$38,450 |
$957,277 |
|
60 to 64 |
13.3% |
$64,980 |
$1,228,497 |
|
65 to 69 |
24.8% |
$63,593 |
$1,259,861 |
|
70 to 74 |
26.5% |
$61,578 |
$1,314,299 |
|
>74 |
28.2% |
$81,561 |
$1,356,251 |
|
Unknown(c) |
<0.1% |
$150,073 |
$1,528,226 |
|
Total |
100% |
$65,613 |
$1,251,334 |
(b) Average member balance is calculated before benefit payment.
(c) Unknown value indicates a value less than 0.1% but greater than 0.
For additional data on members receiving income stream benefit payments and lump sum and income stream benefit payments by benefit type, see tables 10.1 and 10.2 in SMSF overview data tables on data.gov.auExternal Link.
Table 11: SMSF net fund flow
This table shows net contributions, transfers, benefit payments, total expenses and net fund flow for SMSFs from the 2016–17 to 2020–21 financial years.
|
Flow type |
2020–21($m) |
2019–20 ($m) |
2018–19 ($m) |
2017–18 ($m) |
2016–17 ($m) |
|---|---|---|---|---|---|
|
Total contributions |
$18,907 |
$17,503 |
$16,958 |
$16,590 |
$39,145 |
|
Net transfers |
$3,333 |
$3,224 |
$3,376 |
$6,349 |
$8,840 |
|
Benefit payments |
$31,353 |
$31,741 |
$33,610 |
$32,455 |
$41,986 |
|
Total expenses |
$8,800 |
$8,848 |
$8,835 |
$8,364 |
$7,945 |
|
Net fund flow |
-$17,913 |
-$19,862 |
-$22,111 |
-$17,880 |
-$1,946 |
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.
|
Payment phase |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Accumulation |
55.2% |
57.8% |
58.4% |
58.9% |
59.0% |
|
Partial retirement phase |
9.4% |
9.3% |
9.3% |
9.1% |
10.5% |
|
Full retirement phase |
35.4% |
32.9% |
32.3% |
31.9% |
30.5% |
|
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
- members’ account balances by closing balance range and phase at 30 June 2021.
|
Asset range |
Accumulation phase |
Retirement phase |
|---|---|---|
|
$0 to $50k |
6.6% |
3.9% |
|
>$50k to $100k |
3.7% |
0.5% |
|
>$100k to $200k |
8.9% |
1.6% |
|
>$200k to $500k |
26.7% |
10.8% |
|
>$500k to $1m |
28.1% |
21.7% |
|
>$1m to $2m |
16.2% |
28.9% |
|
>$2m to $5m |
8.0% |
24.7% |
|
>$5m to $10m |
1.4% |
6.0% |
|
>$10m to $20m |
0.4% |
1.6% |
|
>$20m to $50m |
0.1% |
0.3% |
|
>$50m |
<0.1% |
<0.1% |
|
Total |
100% |
100% |
|
Member closing balance |
Accumulation phase |
Retirement phase |
|---|---|---|
|
$0 to $50k |
18.8% |
6.3% |
|
>$50k to $100k |
10.3% |
2.3% |
|
>$100k to $200k |
18.0% |
5.9% |
|
>$200k to $500k |
27.5% |
20.1% |
|
>$500k to $1m |
14.5% |
25.6% |
|
>$1m to $1.4m |
4.4% |
12.4% |
|
>$1.4m to $1.6m |
1.3% |
4.8% |
|
>$1.6m to $2m |
1.8% |
7.2% |
|
>$2m to $5m |
2.8% |
12.4% |
|
>$5m |
0.5% |
3.0% |
|
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 2022 and for new registrations in the 2020, 2021 and 2022 financial years.
This data is based on SMSF registrations via the Australian Business Register (ABR).
|
Trustee type |
% of all SMSFs at 30/06/2022 |
2021–22 registrations |
2020–21 registrations |
2019–20 registrations |
|---|---|---|---|---|
|
Corporate |
66.4% |
85.8% |
85.2% |
81.5% |
|
Individual |
33.6% |
14.2% |
14.8% |
18.5% |
|
Total |
100% |
100% |
100% |
100% |
Table 15: Audits performed by SMSF auditors
These tables show, for the 2017 to 2021 financial years, the:
- total number of SMSF auditors performing audits
- distribution of SMSF auditors by number of audits performed
- distribution of SMSF population by their SMSF auditor's annual audit completion number
- 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 auditors |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Total |
3,944 |
4,701 |
5,098 |
5,445 |
5,764 |
|
Number of audits |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
<5 funds |
25.7% |
16.9% |
14.7% |
14.3% |
13.8% |
|
5 to 50 funds |
43.7% |
45.7% |
46.3% |
47.1% |
47.9% |
|
51 to 250 funds |
22.9% |
29.1% |
31.1% |
31.2% |
31.4% |
|
>250 funds |
7.7% |
8.3% |
7.9% |
7.4% |
6.9% |
|
Total |
100% |
100% |
100% |
100% |
100% |
|
Number of audits |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
<5 funds |
0.5% |
0.3% |
0.3% |
0.3% |
0.3% |
|
5 to 50 funds |
8.3% |
9.4% |
10.2% |
11.1% |
12.2% |
|
51 to 250 funds |
23.5% |
27.9% |
30.8% |
32.4% |
34.3% |
|
>250 funds |
67.8% |
62.4% |
58.7% |
56.2% |
53.2% |
|
Total |
100% |
100% |
100% |
100% |
100% |
|
Number of audits |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
<5 funds |
0.4% |
0.3% |
0.3% |
0.3% |
0.3% |
|
5 to 50 funds |
7.3% |
9.2% |
10.1% |
11.1% |
12.0% |
|
51 to 250 funds |
23.1% |
28.0% |
32.3% |
33.3% |
34.9% |
|
>250 funds |
69.2% |
62.4% |
57.3% |
55.2% |
52.8% |
|
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.
|
SMSF auditor fees |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Average |
$640 |
$672 |
$686 |
$684 |
$689 |
|
Median |
$550 |
$550 |
$550 |
$550 |
$550 |
|
Audit fee range |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
>$0 to $499 |
41.4% |
38.3% |
37.9% |
38.4% |
37.6% |
|
$500 to $999 |
48.4% |
50.0% |
49.5% |
49.6% |
49.9% |
|
$1,000 to $1,999 |
8.8% |
9.8% |
10.4% |
9.9% |
10.3% |
|
$2,000 and above |
1.4% |
1.9% |
2.2% |
2.2% |
2.3% |
|
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.
|
Number of SMSF annual returns lodged per tax agent |
No. tax agents 2020–21 |
No. tax agents 2019–20 |
No. tax agents 2018–19 |
No. tax agents 2017–18 |
No. tax agents 2016–17 |
|---|---|---|---|---|---|
|
1 |
15.6% |
15.1% |
15.7% |
16.3% |
16.5% |
|
2 |
8.8% |
8.5% |
8.3% |
8.3% |
8.7% |
|
3 |
6.0% |
6.1% |
6.0% |
6.3% |
6.2% |
|
4 |
4.9% |
4.6% |
4.7% |
4.5% |
4.5% |
|
5 |
4.0% |
3.6% |
3.6% |
3.7% |
3.9% |
|
6 to 10 |
13.7% |
13.0% |
12.9% |
12.8% |
12.7% |
|
11 to 20 |
14.3% |
14.3% |
14.2% |
13.8% |
14.1% |
|
21 to 100 |
26.6% |
27.4% |
27.5% |
27.4% |
27.3% |
|
101 to 500 |
5.9% |
7.0% |
6.8% |
6.5% |
6.1% |
|
>500 |
0.2% |
0.3% |
0.2% |
0.2% |
0.2% |
|
Total |
100% |
100% |
100% |
100% |
100% |
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 2022).
|
Contravention type |
% of total contraventions |
% of value of contraventions |
|---|---|---|
|
Acquisition of assets from related parties |
1.1% |
2.0% |
|
Administrative type contraventions |
12.0% |
9.4% |
|
Borrowings |
7.6% |
8.2% |
|
In-house assets |
16.9% |
26.4% |
|
Investments at arm's length |
7.4% |
9.5% |
|
Loan to member/financial assistance |
19.7% |
13.3% |
|
Operating standard type contraventions |
8.5% |
6.1% |
|
Other |
4.1% |
1.0% |
|
Separation of assets |
12.6% |
21.4% |
|
Sole purpose |
10.2% |
2.8% |
|
Total |
100% |
100% |
Table 19: Age ranges of SMSF members
This table shows the:
- approximate age distribution of SMSF members at 30 June 2022
- age distribution of members of SMSFs established in each financial year from 2016–17 to 2020–21.
This is based on ABR data.
|
Age range |
All members |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|---|
|
<25 |
0.5% |
1.2% |
1.5% |
1.5% |
1.6% |
1.7% |
|
25 to 34 |
2.6% |
9.9% |
12.1% |
12.3% |
12.9% |
10.7% |
|
35 to 44 |
10.4% |
33.9% |
32.6% |
31.9% |
31.8% |
28.6% |
|
45 to 49 |
8.8% |
18.5% |
17.6% |
18.0% |
17.7% |
17.3% |
|
50 to 54 |
11.4% |
15.6% |
14.7% |
14.4% |
14.3% |
15.1% |
|
55 to 59 |
12.0% |
11.3% |
11.3% |
11.6% |
11.2% |
12.7% |
|
60 to 64 |
12.9% |
5.9% |
6.0% |
6.1% |
6.2% |
7.9% |
|
65 to 69 |
12.3% |
2.5% |
2.6% |
2.6% |
2.9% |
3.8% |
|
70 to 74 |
11.9% |
0.9% |
1.1% |
1.2% |
1.2% |
1.7% |
|
75 to 84 |
14.2% |
0.4% |
0.4% |
0.4% |
0.3% |
0.5% |
|
85+ |
3.0% |
0.0% |
0.0% |
0.0% |
0.0% |
<0.1% |
|
Total |
100% |
100% |
100% |
100% |
100% |
100% |
|
Average member age |
61.0 |
46.7 |
46.4 |
46.5 |
46.4 |
47.8 |
|
Median member age |
61.6 |
46.3 |
46.1 |
46.2 |
46.1 |
47.5 |
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 2021 (issued 31 January 2022).
This is based on ABR and SMSF annual return (SAR) data.
|
Age range |
All SMSF members at 30 June 2021 |
All non-SMSF members at 30 June 2021 |
|---|---|---|
|
<25 |
0.7% |
11.6% |
|
25 to 34 |
2.6% |
21.0% |
|
35 to 44 |
9.9% |
20.5% |
|
45 to 49 |
8.9% |
9.8% |
|
50 to 54 |
11.2% |
9.4% |
|
55 to 59 |
13.0% |
8.4% |
|
60 to 64 |
14.2% |
7.4% |
|
65 to 69 |
13.6% |
5.2% |
|
70 to 74 |
12.7% |
3.3% |
|
75 to 84 |
11.9% |
2.6% |
|
85+ |
1.4% |
0.5% |
|
Unknown |
0.0% |
0.2% |
|
Total |
100% |
100% |
|
Age range |
Average taxable income |
Median taxable income |
Average member balance per 2021 SAR |
Median member balance per 2021 SAR |
|---|---|---|---|---|
|
<25 |
$61,752 |
$44,799 |
$66,226 |
$8,302 |
|
25 to 34 |
$112,570 |
$82,594 |
$105,223 |
$49,738 |
|
35 to 44 |
$151,772 |
$101,380 |
$194,566 |
$125,445 |
|
45 to 49 |
$167,787 |
$105,985 |
$296,436 |
$189,242 |
|
50 to 54 |
$165,223 |
$100,154 |
$418,189 |
$250,156 |
|
55 to 59 |
$150,345 |
$88,889 |
$627,581 |
$359,471 |
|
60 to 64 |
$125,348 |
$64,309 |
$911,977 |
$551,186 |
|
65 to 69 |
$97,727 |
$40,990 |
$1,100,952 |
$687,807 |
|
70 to 74 |
$83,201 |
$30,576 |
$1,203,263 |
$692,684 |
|
75 to 84 |
$83,934 |
$28,061 |
$1,253,412 |
$686,883 |
|
85+ |
$101,194 |
$34,164 |
$1,099,988 |
$566,488 |
|
Unknown |
$- |
$- |
$952,214 |
$328,153 |
|
Total (all ages) |
$126,966 |
$68,706 |
$773,726 |
$366,584 |
|
Age range |
Average taxable income |
Median taxable income |
|---|---|---|
|
<25 |
$37,600 |
$33,765 |
|
25 to 34 |
$63,817 |
$56,617 |
|
35 to 44 |
$84,853 |
$68,712 |
|
45 to 49 |
$92,815 |
$71,175 |
|
50 to 54 |
$90,531 |
$68,824 |
|
55 to 59 |
$84,108 |
$64,137 |
|
60 to 64 |
$70,112 |
$53,018 |
|
65 to 69 |
$55,485 |
$39,009 |
|
70 to 74 |
$44,289 |
$28,584 |
|
75 to 84 |
$37,133 |
$22,902 |
|
85+ |
$42,329 |
$31,518 |
|
Unknown |
$60,194 |
$48,888 |
|
Total |
$69,361 |
$54,311 |
(d) The non-SMSF member population are those individuals, excluding SMSF members, for whom a member contribution was received during the year ended 30 June 2021.
Table 21: Gender statistics
These tables show the:
- average SMSF member account balances by gender and phase
- average SMSF member account balance by age and gender at 30 June 2021
- distribution of member account balances by gender and closing account balance range at 30 June 2021.
'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 2022.
|
Phase |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Accumulation |
$400,167 |
$336,314 |
$319,337 |
$292,571 |
$267,127 |
|
Retirement |
$5,595,555 |
$4,738,287 |
$4,772,549 |
$4,477,410 |
$4,214,383 |
|
All SMSFs |
$744,657 |
$632,907 |
$634,128 |
$601,657 |
$573,887 |
|
Phase |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Accumulation |
$511,792 |
$433,869 |
$413,997 |
$382,244 |
$349,818 |
|
Retirement |
$6,248,625 |
$5,327,348 |
$5,390,316 |
$5,096,131 |
$4,820,737 |
|
All SMSFs |
$881,737 |
$758,446 |
$763,099 |
$729,165 |
$698,198 |
Average SMSF member balance by age and gender, 30 June 2021
|
Age range |
Female |
Male |
Overall |
|---|---|---|---|
|
<25 |
$74,398 |
$72,433 |
$73,539 |
|
25 to 34 |
$106,376 |
$125,257 |
$116,183 |
|
35 to 44 |
$180,862 |
$230,988 |
$206,396 |
|
45 to 49 |
$270,823 |
$346,247 |
$309,263 |
|
50 to 54 |
$393,594 |
$476,879 |
$435,698 |
|
55 to 59 |
$597,778 |
$700,779 |
$650,432 |
|
60 to 64 |
$872,628 |
$1,025,717 |
$951,687 |
|
65 to 69 |
$1,085,980 |
$1,220,265 |
$1,155,463 |
|
70 to 74 |
$1,196,103 |
$1,336,703 |
$1,270,681 |
|
75 to 84 |
$1,258,662 |
$1,415,273 |
$1,347,659 |
|
85+ |
$1,233,720 |
$1,298,954 |
$1,275,007 |
|
Unknown |
$1,056,709 |
$911,592 |
$966,017 |
For additional historical data for 2016–17 to 2019–20, access SMSF overview data tables on data.gov.auExternal Link.
|
Member balance range |
% of female members |
% of male members |
|---|---|---|
|
>$0 to $50k |
16.8% |
11.1% |
|
>$50k to $100k |
8.5% |
5.9% |
|
>$100k to $200k |
13.7% |
12.7% |
|
>$200k to $500k |
22.7% |
26.3% |
|
>$500k to $1m |
17.6% |
20.1% |
|
>$1m to $2m |
13.3% |
15.0% |
|
>$2m to $5m |
6.2% |
7.1% |
|
>$5m |
1.2% |
1.8% |
|
Total |
100% |
100% |
For additional historical data for 2016–17 to 2019–20, access SMSF overview data tables on data.gov.auExternal Link.
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
- 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 2022.
|
Member account balance range |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
$0 to $50k |
13.9% |
15.7% |
16.2% |
16.7% |
17.4% |
|
>$50k to $100k |
7.2% |
8.6% |
8.9% |
9.4% |
9.9% |
|
>$100k to $200k |
13.2% |
14.8% |
14.7% |
15.1% |
15.2% |
|
>$200k to $500k |
24.6% |
24.8% |
24.0% |
23.8% |
23.5% |
|
>$500k to $1m |
18.9% |
17.6% |
17.5% |
17.3% |
17.2% |
|
>$1m to $2m |
14.2% |
12.2% |
12.3% |
11.6% |
11.1% |
|
>$2m to $5m |
6.6% |
5.2% |
5.3% |
5.1% |
4.8% |
|
>$5m |
1.5% |
1.1% |
1.1% |
1.0% |
0.9% |
|
Total |
100% |
100% |
100% |
100% |
100% |
|
Fund asset range |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
$0 to $50k |
5.4% |
5.8% |
6.0% |
6.0% |
6.1% |
|
>$50k to $100k |
2.3% |
3.0% |
3.2% |
3.5% |
3.8% |
|
>$100k to $200k |
5.6% |
7.0% |
7.2% |
7.9% |
8.5% |
|
>$200k to $500k |
19.6% |
22.4% |
22.2% |
23.0% |
23.5% |
|
>$500k to $1m |
25.2% |
25.3% |
24.7% |
24.5% |
24.2% |
|
>$1m to $2m |
21.9% |
19.9% |
19.9% |
19.4% |
18.9% |
|
>$2m to $5m |
15.5% |
12.9% |
13.1% |
12.4% |
11.8% |
|
>$5m to $10m |
3.5% |
2.8% |
2.8% |
2.6% |
2.5% |
|
>$10m to $20m |
0.9% |
0.7% |
0.7% |
0.7% |
0.6% |
|
>$20m to $50m |
0.2% |
0.2% |
0.1% |
0.1% |
0.1% |
|
>$50m |
<0.1% |
<0.1% |
<0.1% |
<0.1% |
<0.1% |
|
Total |
100% |
100% |
100% |
100% |
100% |
|
Fund asset range |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
$0 to $50k |
<0.1% |
0.1% |
0.1% |
0.1% |
0.1% |
|
>$50k to $100k |
0.1% |
0.2% |
0.2% |
0.2% |
0.2% |
|
>$100k to $200k |
0.6% |
0.8% |
0.8% |
1.0% |
1.1% |
|
>$200k to $500k |
4.7% |
6.1% |
6.1% |
6.5% |
6.9% |
|
>$500k to $1m |
12.4% |
14.2% |
13.8% |
14.3% |
14.7% |
|
>$1m to $2m |
21.1% |
21.9% |
21.9% |
22.2% |
22.5% |
|
>$2m to $5m |
31.8% |
30.3% |
30.6% |
30.2% |
30.0% |
|
>$5m to $10m |
15.8% |
14.5% |
14.8% |
14.3% |
14.1% |
|
>$10m to $20m |
8.2% |
7.0% |
7.2% |
6.9% |
6.3% |
|
>$20m to $50m |
3.6% |
3.4% |
3.2% |
3.0% |
2.8% |
|
>$50m |
1.6% |
1.5% |
1.4% |
1.3% |
1.2% |
|
Total |
100% |
100% |
100% |
100% |
100% |
Table 23: Return on assets for SMSFs
These table show the total and median return on assets (ROA) made by SMSFs by financial year.
The ROA for SMSFs is based on SMSF annual return form data.
|
SMSF ROA |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Total |
18.2% |
1.0% |
7.3% |
8.0% |
11.2% |
|
Median |
12.9% |
-1.5% |
4.2% |
3.9% |
5.0% |
Table 24: Return on assets by fund size and age
These tables show the:
- ROA of SMSFs by asset size
- ROA by fund age
- distribution of SMSFs by ROA.
ROA is calculated by comparing net earnings and assets at the beginning of the financial year to determine the percentage return on assets.
|
Fund size |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
$1 to $50k |
1.8% |
-15.1% |
-13.1% |
-9.3% |
-8.8% |
|
>$50k to $100k |
8.0% |
-7.6% |
-5.6% |
-2.1% |
-2.7% |
|
>$100k to $200k |
10.4% |
-3.7% |
-0.6% |
1.0% |
1.4% |
|
>$200 to $500k |
15.2% |
-0.3% |
4.3% |
5.2% |
6.2% |
|
>$500k to $1m |
17.2% |
0.2% |
6.8% |
6.9% |
8.1% |
|
>$1m to $2m |
17.5% |
0.3% |
7.5% |
8.9% |
9.3% |
|
>$2m to $5m |
18.3% |
1.1% |
7.9% |
8.2% |
11.0% |
|
>$5m to $10m |
19.0% |
1.8% |
7.8% |
8.6% |
14.6% |
|
>$10m |
21.5% |
3.4% |
8.0% |
9.3% |
24.1% |
|
Fund age |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
<2 years |
17.0% |
1.1% |
4.9% |
6.4% |
7.1% |
|
2 to 3 years |
19.8% |
1.5% |
6.0% |
7.2% |
10.1% |
|
4 to 5 years |
18.3% |
2.3% |
6.9% |
7.3% |
9.4% |
|
>5 years |
18.2% |
1.0% |
7.4% |
8.1% |
11.5% |
|
ROA |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
<–20% |
1.8% |
5.6% |
4.0% |
3.1% |
3.3% |
|
–20% to <–15% |
0.6% |
3.2% |
1.2% |
1.1% |
1.2% |
|
–15% to <–10% |
1.1% |
6.7% |
2.1% |
1.9% |
2.2% |
|
–10% to <–5% |
2.5% |
15.1% |
4.7% |
4.5% |
4.6% |
|
–5% to 0% |
9.1% |
29.3% |
14.0% |
14.6% |
13.4% |
|
>0% to 5% |
13.3% |
23.2% |
28.7% |
31.7% |
25.6% |
|
>5% to 10% |
12.4% |
7.2% |
26.2% |
24.8% |
24.6% |
|
>10% |
59.1% |
9.6% |
19.0% |
18.4% |
25.1% |
|
Total |
100% |
100% |
100% |
100% |
100% |
Table 25: Expenses
These tables show average and median:
- total expenses for the 2017 to 2021 financial years
- total expenses by SMSF asset range for the 2017 to 2021 financial years
- operating expenses for the 2017 to 2021 financial years
- expenses by type for the 2017 to 2021 financial years
- expenses by type and asset range for the 2021 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 |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Average |
$15,507 |
$15,731 |
$15,845 |
$14,928 |
$14,108 |
|
Median |
$8,611 |
$8,322 |
$8,169 |
$7,642 |
$7,225 |
(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.
|
Asset range |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
>$0 to $50k |
$4,451 |
$4,355 |
$4,253 |
$3,799 |
$3,566 |
|
>$50k to $100k |
$6,002 |
$5,986 |
$6,175 |
$5,552 |
$5,469 |
|
>$100k to $200k |
$9,818 |
$10,423 |
$10,653 |
$10,251 |
$9,913 |
|
>$200k to $500k |
$13,012 |
$13,206 |
$13,292 |
$12,567 |
$11,825 |
|
>$500k to $1m |
$12,745 |
$12,964 |
$13,070 |
$12,354 |
$11,935 |
|
>$1m to $2m |
$14,462 |
$15,114 |
$15,176 |
$14,719 |
$14,711 |
|
>$2m |
$27,687 |
$30,128 |
$31,130 |
$30,072 |
$28,787 |
|
All funds |
$15,507 |
$15,731 |
$15,845 |
$14,928 |
$14,108 |
|
Asset range |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
>$0 to $50k |
$2,131 |
$1,922 |
$1,890 |
$1,758 |
$1,755 |
|
>$50k to $100k |
$2,804 |
$2,659 |
$2,688 |
$2,600 |
$2,668 |
|
>$100k to $200k |
$4,365 |
$4,542 |
$4,739 |
$4,634 |
$4,656 |
|
>$200k to $500k |
$7,383 |
$7,428 |
$7,353 |
$6,924 |
$6,643 |
|
>$500k to $1m |
$8,517 |
$8,390 |
$8,283 |
$7,863 |
$7,660 |
|
>$1m to $2m |
$10,203 |
$10,220 |
$10,152 |
$9,677 |
$9,454 |
|
>$2m |
$15,964 |
$16,641 |
$16,755 |
$16,012 |
$15,444 |
|
All funds |
$8,611 |
$8,322 |
$8,169 |
$7,642 |
$7,225 |
|
Operating expenses |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Average |
$6,427 |
$6,171 |
$6,357 |
$6,052 |
$5,923 |
|
Median |
$4,139 |
$3,943 |
$3,989 |
$3,843 |
$3,810 |
(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.
|
Expense type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Interest expense within Australia |
$14,567 |
$15,948 |
$17,102 |
$16,563 |
$16,051 |
|
Interest expense overseas |
$13,137 |
$15,165 |
$13,335 |
$13,471 |
$14,236 |
|
Insurance premiums |
$7,379 |
$7,195 |
$6,935 |
$6,760 |
$6,562 |
|
SMSF auditor fee |
$640 |
$672 |
$686 |
$684 |
$689 |
|
Investment Expenses |
$10,659 |
$10,666 |
$10,469 |
$10,033 |
$9,486 |
|
Management and admin expenses |
$4,544 |
$4,387 |
$4,374 |
$4,426 |
$4,245 |
|
Forestry managed investment scheme |
$5,248 |
$7,303 |
$7,888 |
$5,647 |
$5,808 |
|
Supervisory levy |
$259 |
$259 |
$259 |
$259 |
$259 |
|
Other deductions |
$2,646 |
$2,728 |
$2,980 |
$2,580 |
$2,652 |
|
Total expenses |
$15,507 |
$15,731 |
$15,845 |
$14,928 |
$14,108 |
|
Expense type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Interest expense within Australia |
$11,922 |
$12,768 |
$13,543 |
$12,922 |
$11,954 |
|
Interest expense overseas |
$9,791 |
$9,487 |
$8,652 |
$9,788 |
$8,522 |
|
Insurance premiums |
$5,083 |
$4,891 |
$4,693 |
$4,540 |
$4,392 |
|
SMSF auditor fee |
$550 |
$550 |
$550 |
$550 |
$550 |
|
Investment expenses |
$6,276 |
$6,028 |
$5,718 |
$5,319 |
$4,933 |
|
Management and admin expenses |
$2,963 |
$2,844 |
$2,834 |
$2,757 |
$2,700 |
|
Forestry managed investment scheme |
$2,469 |
$2,371 |
$2,666 |
$2,431 |
$2,322 |
|
Supervisory levy |
$259 |
$259 |
$259 |
$259 |
$259 |
|
Other deductions |
$311 |
$290 |
$397 |
$337 |
$372 |
|
Total expenses |
$8,611 |
$8,322 |
$8,169 |
$7,642 |
$7,225 |
The following 2 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.
|
Expense type |
$1 to $50k |
>$50k to $100k |
>$100k to $200k |
>$200k to $500k |
>$500k to $1m |
>$1m to $2m |
>$2m |
All funds |
|---|---|---|---|---|---|---|---|---|
|
Interest expense within Australia |
$10,285 |
$11,150 |
$12,020 |
$12,981 |
$14,576 |
$16,070 |
$24,938 |
$14,567 |
|
Interest expense overseas |
$2,546 |
$7,197 |
$10,429 |
$12,936 |
$11,289 |
$14,285 |
$18,910 |
$13,137 |
|
Insurance premiums |
$6,867 |
$5,237 |
$5,314 |
$6,020 |
$7,581 |
$9,704 |
$12,965 |
$7,379 |
|
SMSF auditor fee |
$559 |
$560 |
$562 |
$583 |
$611 |
$652 |
$763 |
$640 |
|
Investment expenses |
$2,869 |
$3,905 |
$5,632 |
$6,673 |
$7,216 |
$9,584 |
$21,183 |
$10,659 |
|
Management and admin expenses |
$1,614 |
$1,869 |
$2,300 |
$2,961 |
$3,901 |
$5,093 |
$8,070 |
$4,544 |
|
Forestry managed investment scheme |
$ - |
$591 |
$3,363 |
$3,210 |
$5,676 |
$4,638 |
$8,202 |
$5,248 |
|
Supervisory levy |
$259 |
$259 |
$259 |
$259 |
$259 |
$259 |
$259 |
$259 |
|
Other deductions |
$1,278 |
$1,141 |
$1,437 |
$1,624 |
$2,044 |
$2,190 |
$5,530 |
$2,646 |
|
Total expenses |
$4,451 |
$6,002 |
$9,818 |
$13,012 |
$12,745 |
$14,462 |
$27,687 |
$15,507 |
|
|
$1 to $50k |
>$50k to $100k |
>$100k to $200k |
>$200k to $500k |
>$500k to $1m |
>$1m to $2m |
>$2m |
All funds |
|---|---|---|---|---|---|---|---|---|
|
Interest expense within Australia |
$11,261 |
$11,440 |
$12,026 |
$12,161 |
$11,875 |
$11,114 |
$8,165 |
$11,922 |
|
Interest expense overseas |
$2,546 |
$7,861 |
$11,829 |
$12,772 |
$9,546 |
$5,655 |
$419 |
$9,791 |
|
Insurance premiums |
$4,260 |
$3,408 |
$3,812 |
$4,489 |
$5,602 |
$6,632 |
$8,325 |
$5,083 |
|
SMSF auditor fee |
$462 |
$462 |
$495 |
$500 |
$550 |
$550 |
$605 |
$550 |
|
Investment expenses |
$138 |
$727 |
$4,187 |
$5,305 |
$5,604 |
$7,035 |
$11,491 |
$6,276 |
|
Management and admin expenses |
$1,254 |
$1,494 |
$1,910 |
$2,438 |
$2,883 |
$3,417 |
$4,632 |
$2,963 |
|
Forestry managed investment scheme |
$ - |
$474 |
$1,304 |
$1,674 |
$2,520 |
$3,255 |
$3,622 |
$2,469 |
|
Supervisory levy |
$259 |
$259 |
$259 |
$259 |
$259 |
$259 |
$259 |
$259 |
|
Other deductions |
$324 |
$387 |
$480 |
$465 |
$275 |
$259 |
$259 |
$311 |
|
Total expenses |
$2,131 |
$2,804 |
$4,365 |
$7,383 |
$8,517 |
$10,203 |
$15,964 |
$8,611 |
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 2021.
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.
|
Expense type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Operating |
0.5% |
0.5% |
0.5% |
0.5% |
0.5% |
|
Total |
1.1% |
1.2% |
1.3% |
1.2% |
1.2% |
|
Ratio range |
SMSFs with operating expenses in range |
SMSFs with total expenses in range |
|---|---|---|
|
<=0.25% |
23.7% |
12.7% |
|
>0.25 to 0.5% |
21.4% |
13.4% |
|
>0.5 to 0.75% |
13.7% |
10.7% |
|
>0.75 to 1% |
9.7% |
9.1% |
|
>1 to 1.5% |
12.6% |
14.3% |
|
>1.5 to 2% |
6.9% |
9.0% |
|
>2 to 3% |
6.1% |
9.4% |
|
>3 to 5% |
3.3% |
7.8% |
|
>5% |
2.5% |
13.5% |
|
Total |
100% |
100% |
For additional historical data for 2017 to 2020, access SMSF overview data tables on data.gov.auExternal Link.
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 2021.
|
Fund size |
Operating expenses |
Total expenses |
|---|---|---|
|
$1 to $50k |
9.7% |
18.0% |
|
>$50k to $100k |
3.6% |
7.8% |
|
>$100k to $200k |
2.3% |
6.4% |
|
>$200k to $500k |
1.3% |
3.8% |
|
>$500k to $1m |
0.8% |
1.8% |
|
>$1m to $2m |
0.5% |
1.0% |
|
>$2m |
0.3% |
0.6% |
For additional historical data for 2017 to 2020, access SMSF overview data tables on data.gov.auExternal Link.
Table 28: Asset allocations
These tables show:
- the value and proportion of assets held by the SMSF population for each type of asset listed on the 2021 SMSF annual return
- the mean and median value for each of those asset types
- a breakdown of assets reported at limited recourse borrowing arrangement labels by asset type
- SMSF investment in real property.
SMSFs will have different asset allocations in individual cases.
To ensure consistency, the total monetary amounts used in this table are those reported in the Self-managed super fund quarterly statistical report – June 2022.
|
Asset type |
All ($m) |
% of total SMSF assets |
% of SMSF population holding these assets |
Mean ($)(h) |
Median ($)(i) |
|---|---|---|---|---|---|
|
Listed trusts |
$54,789 |
6.5% |
36.9% |
$258,963 |
$115,187 |
|
Unlisted trusts |
$101,370 |
12.0% |
24.0% |
$737,370 |
$300,123 |
|
Insurance policy |
$102 |
<0.1% |
0.1% |
$319,767 |
$155,701 |
|
Other managed investments |
$51,758 |
6.1% |
13.7% |
$659,040 |
$276,444 |
|
Cash and term deposits |
$142,325 |
16.9% |
96.4% |
$257,544 |
$84,362 |
|
Debt securities |
$10,847 |
1.3% |
9.2% |
$206,868 |
$74,538 |
|
Loans |
$5,267 |
0.6% |
2.7% |
$335,111 |
$106,000 |
|
Listed shares |
$256,476 |
30.4% |
59.8% |
$750,273 |
$347,161 |
|
Unlisted shares |
$9,949 |
1.2% |
6.7% |
$257,785 |
$47,000 |
|
Limited recourse borrowing arrangements |
$52,859 |
6.3% |
11.3% |
$818,448 |
$550,000 |
|
Non-residential real property |
$74,651 |
8.8% |
11.1% |
$1,176,653 |
$699,918 |
|
Residential real property |
$41,563 |
4.9% |
9.9% |
$729,322 |
$525,000 |
|
Collectables and personal use assets |
$489 |
0.1% |
0.6% |
$153,690 |
$63,308 |
|
Other assets |
$20,928 |
2.5% |
82.1% |
$44,462 |
$8,117 |
|
Crypto-currency |
$1,403 |
0.17% |
1.3% |
$187,559 |
$65,650 |
|
Overseas shares |
$14,040 |
1.7% |
7.9% |
$308,831 |
$73,552 |
|
Overseas non-residential real property |
$157 |
<0.1% |
0.1% |
$545,684 |
$143,062 |
|
Overseas residential real property |
$330 |
<0.1% |
0.2% |
$328,533 |
$173,037 |
|
Overseas managed investments |
$1,815 |
0.2% |
0.8% |
$375,278 |
$123,052 |
|
Other overseas assets |
$2,630 |
0.3% |
2.2% |
$207,479 |
$71,412 |
|
Total Australian and overseas Assets |
$843,746 |
100% |
n/a |
$1,516,560 |
$834,505 |
|
Borrowings |
$22,617 |
2.7% |
12.0% |
$329,151 |
$253,437 |
|
Other liabilities |
$7,439 |
0.9% |
63.3% |
$20,637 |
$3,984 |
|
Net Australian and overseas assets |
$813,690 |
96.4% |
n/a |
$1,462,506 |
$777,394 |
(h) (i) Mean and median values are only applicable to the funds that held those types of assets.
|
LRBA investment by asset type |
Total ($m) |
% of total SMSF assets |
% of SMSFs holding these assets |
Mean ($)(j) |
Median ($)(k) |
|---|---|---|---|---|---|
|
Australian residential real property |
$28,682 |
3.4% |
8.0% |
$621,941 |
$510,000 |
|
Australian non-residential real property |
$21,964 |
2.6% |
2.9% |
$1,322,130 |
$795,000 |
|
Overseas real property |
$24 |
<0.1% |
<0.1% |
$657,744 |
$331,000 |
|
Australian shares |
$602 |
0.1% |
0.2% |
$477,620 |
$208,359 |
|
Overseas shares |
$29 |
<0.1% |
<0.1% |
$716,738 |
$119,000 |
|
Other |
$1,558 |
0.2% |
0.3% |
$830,536 |
$398,750 |
|
Total(l) |
$52,859 |
6.3% |
11.5% |
$818,448 |
$550,000 |
(j) (k) Mean and median values are only applicable to the funds that held those types of assets.
(l) The total represents the proportion of total SMSFs holding all LRBA assets. There is a small proportion of SMSFs that hold more than one type of LRBA asset.
|
LRBA assets |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Total LRBA assets ($m) |
$52,859 |
$52,992 |
$49,655 |
$45,421 |
$40,449 |
|
Proportion of SMSFs reporting LRBAs (%) |
11.3% |
12.1% |
11.7% |
10.8% |
9.6% |
|
Investment type |
2020–21 ($m) |
2019–20 ($m) |
2018–19 ($m) |
2017–18 ($m) |
2016–17 ($m) |
|---|---|---|---|---|---|
|
Non-residential real property |
$74,651 |
$73,123 |
$68,440 |
$65,278 |
$64,742 |
|
LRBA non-residential real property |
$21,964 |
$23,323 |
$21,932 |
$20,097 |
$18,213 |
|
Residential real property |
$41,563 |
$39,059 |
$36,515 |
$35,360 |
$33,677 |
|
LRBA residential real property |
$28,682 |
$27,464 |
$25,704 |
$23,443 |
$20,398 |
|
Total SMSF investment in property |
$166,859 |
$162,969 |
$152,592 |
$144,178 |
$137,030 |
|
Total borrowings |
$22,617 |
$25,184 |
$25,074 |
$24,305 |
$23,011 |
Table 29: SMSF population holding assets
These tables show, for each financial year, the distribution of:
- SMSF population holding certain assets
- total SMSF assets by asset type.
|
Asset type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Listed trusts |
36.9% |
33.8% |
31.5% |
30.2% |
28.6% |
|
Unlisted trusts |
24.0% |
23.3% |
23.1% |
22.8% |
22.3% |
|
Other managed investments |
13.7% |
12.1% |
11.3% |
10.9% |
10.5% |
|
Cash and term deposits |
96.4% |
96.7% |
96.6% |
96.8% |
97.0% |
|
Listed shares |
59.8% |
58.3% |
57.3% |
58.0% |
58.3% |
|
Non-residential real property |
11.1% |
11.8% |
11.7% |
11.6% |
11.9% |
|
Residential real property |
9.9% |
10.2% |
10.1% |
10.0% |
9.8% |
|
Limited recourse borrowing arrangements |
11.3% |
12.1% |
11.7% |
10.8% |
9.6% |
|
Asset type |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
Listed trusts |
6.5% |
5.6% |
5.4% |
4.8% |
4.2% |
|
Unlisted trusts |
12.0% |
12.2% |
12.0% |
11.9% |
11.1% |
|
Other managed investments |
6.1% |
5.4% |
5.1% |
4.8% |
4.5% |
|
Cash and term deposits |
16.9% |
20.4% |
20.7% |
21.3% |
24.0% |
|
Listed shares |
30.4% |
25.1% |
26.9% |
27.7% |
27.2% |
|
Non-residential real property |
8.8% |
10.1% |
9.5% |
9.6% |
9.9% |
|
Residential real property |
4.9% |
5.4% |
5.1% |
5.2% |
5.1% |
|
Limited recourse borrowing arrangements |
6.3% |
7.4% |
6.9% |
6.6% |
6.2% |
|
All other assets |
8.1% |
8.4% |
8.4% |
8.1% |
7.8% |
|
Total |
100% |
100% |
100% |
100% |
100% |
For additional tables on changes in distribution of SMSF asset holdings from 2017 to 2021, access SMSF overview data tables on data.gov.auExternal Link.
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 2021 SMSF annual return.
|
Asset type |
Accumulation phase |
Retirement phase |
|---|---|---|
|
Listed trusts |
5.5% |
7.0% |
|
Unlisted trusts |
10.8% |
12.6% |
|
Insurance policy |
<0.1% |
<0.1% |
|
Other managed investments |
5.3% |
6.6% |
|
Cash and term deposits |
17.0% |
16.8% |
|
Debt securities |
0.7% |
1.6% |
|
Loans |
0.6% |
0.6% |
|
Listed shares |
21.7% |
35.2% |
|
Unlisted shares |
1.6% |
0.9% |
|
Limited recourse borrowing arrangements |
15.2% |
1.4% |
|
Non-residential real property |
9.3% |
8.6% |
|
Residential real property |
6.5% |
4.0% |
|
Collectables and personal use assets |
0.1% |
<0.1% |
|
Other assets |
2.7% |
2.3% |
|
Crypto-currency |
0.4% |
0.0% |
|
Overseas shares |
1.8% |
1.6% |
|
Overseas non-residential real property |
<0.1% |
<0.1% |
|
Overseas residential real property |
0.1% |
<0.1% |
|
Overseas managed investments |
0.3% |
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 2021, 42.4% of SMSFs held 80% or more of their assets in one particular asset class, representing 29.7% of total SMSF assets.
An asset concentration of 100% indicates all assets are held within a single asset class.
|
Asset concentration |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
100% |
7.7% |
8.0% |
8.8% |
9.3% |
10.4% |
|
>=90% |
28.7% |
28.5% |
29.2% |
30.2% |
30.3% |
|
>=80% |
42.4% |
42.2% |
42.8% |
43.9% |
43.9% |
|
>=70% |
54.6% |
54.4% |
55.1% |
56.3% |
56.2% |
|
>=60% |
67.1% |
67.1% |
67.7% |
68.9% |
69.0% |
|
>=50% |
80.8% |
81.2% |
81.9% |
83.0% |
83.2% |
|
Asset concentration |
2020–21 |
2019–20 |
2018–19 |
2017–18 |
2016–17 |
|---|---|---|---|---|---|
|
100% |
3.3% |
3.6% |
3.9% |
4.1% |
4.7% |
|
>=90% |
19.0% |
18.2% |
18.4% |
19.1% |
18.9% |
|
>=80% |
29.7% |
28.5% |
28.5% |
29.4% |
29.1% |
|
>=70% |
39.3% |
37.7% |
38.0% |
38.8% |
38.6% |
|
>=60% |
48.4% |
46.8% |
47.2% |
48.1% |
48.0% |
|
>=50% |
57.4% |
56.0% |
56.5% |
57.4% |
57.4% |
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.
|
Fund size |
% of SMSFs with 100% concentration |
>=90% |
>=80% |
>=70% |
>=60% |
>=50% |
|---|---|---|---|---|---|---|
|
$1 to $50k |
46.1% |
66.7% |
76.3% |
83.7% |
90.2% |
96.7% |
|
>$50k to $100k |
24.9% |
53.6% |
65.4% |
74.4% |
83.3% |
92.2% |
|
>$100k to $200k |
19.3% |
47.2% |
61.2% |
72.1% |
82.2% |
92.3% |
|
>$200k to $500k |
10.9% |
39.2% |
55.5% |
67.8% |
78.8% |
89.7% |
|
>$500k to $1m |
5.8% |
29.9% |
45.7% |
59.3% |
72.3% |
85.9% |
|
>$1m to $2m |
3.9% |
21.6% |
34.5% |
47.5% |
61.9% |
78.9% |
|
>$2m to $5m |
2.3% |
16.6% |
28.5% |
41.3% |
56.0% |
73.7% |
|
>$5m to $10m |
1.6% |
14.0% |
25.8% |
38.7% |
53.3% |
70.5% |
|
>$10m |
1.4% |
15.2% |
26.2% |
38.0% |
52.1% |
68.7% |
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.
|
Asset type |
% of SMSFs with 100% of asset class |
>=90% |
>=80% |
>=70% |
>=60% |
>=50% |
|---|---|---|---|---|---|---|
|
Listed trusts |
<0.1% |
0.5% |
0.8% |
1.2% |
1.8% |
2.7% |
|
Unlisted trusts |
0.2% |
1.9% |
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% |
1.6% |
2.3% |
3.0% |
3.7% |
4.4% |
|
Cash and term deposits |
5.9% |
8.4% |
9.8% |
11.3% |
13.1% |
15.5% |
|
Debt securities |
<0.1% |
<0.1% |
0.1% |
0.1% |
0.1% |
0.2% |
|
Loans |
<0.1% |
0.2% |
0.3% |
0.4% |
0.5% |
0.6% |
|
Listed shares |
0.3% |
6.2% |
10.8% |
15.3% |
19.8% |
24.6% |
|
Unlisted shares |
<0.1% |
0.3% |
0.4% |
0.5% |
0.6% |
0.8% |
|
Limited recourse borrowing arrangements |
0.3% |
4.9% |
7.2% |
8.6% |
9.5% |
10.1% |
|
Non-residential real property |
0.2% |
1.8% |
3.1% |
4.2% |
5.3% |
6.5% |
|
Residential real property |
0.1% |
1.6% |
2.6% |
3.6% |
4.4% |
5.3% |
|
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% |
1.5% |
1.7% |
2.0% |
|
Overseas shares |
<0.1% |
0.1% |
0.2% |
0.3% |
0.4% |
0.5% |
|
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 |
7.6% |
28.6% |
42.3% |
54.5% |
67.0% |
80.7% |
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.
|
Asset concentration |
% of SMSFs in accumulation phase |
% of SMSFs in retirement phase |
|---|---|---|
|
100% |
10.0% |
4.9% |
|
>=90% |
34.7% |
21.2% |
|
>=80% |
49.5% |
33.6% |
|
>=70% |
61.7% |
46.0% |
|
>=60% |
73.0% |
59.8% |
|
>=50% |
84.9% |
75.9% |