SMSF members by income

The average taxable income of all SMSF members in the year ended 30 June 2013 was $103,000, while the median taxable income was $56,000.Footnote25 Members aged 35–49 years had the highest average taxable income of $124,000 (see appendix 1, table 11). Members over 65 years old had the lowest average taxable income of $72,000 and a median taxable income of $31,000.

From 2009 to 2013, SMSF members of all ages had higher average taxable incomes than non-SMSF members (which averaged $56,000 in 2013).

Graph 7 shows older members had higher average balances and lower average taxable incomes. The average SMSF member balance ranged from $62,000 for members under 35 years to $875,000 for those over 65 years. This represents a growth over the five years to 2013 of 27% and 24% respectively.Footnote26

The 50–59 year age group had the largest proportion of members, with an average balance of $459,000. Analysis shows that as the proportion of SMSF members aged 60 years or older increased during the five-year period, so did their average balance.

Graph 7: 2013 Average and median taxable income and balance of SMSF members, by age

 SMSF members by income

Graph 8 shows the differing average and median taxable incomes across age ranges between SMSF members and non-SMSF members. SMSF members across all age ranges had higher average and median taxable incomes. The most significant difference in average taxable income was for members aged 35–49 years. On average, SMSF members in this group earned $124,000, compared to non-SMSF members, who earned $67,000 (see appendix 1, table 11).

Graph 8: 2013 Average and median taxable income of SMSF members and non-SMSF members by age range

 SMSF members by income graph 8

Footnote 25

Average taxable income is determined by SAR received for the relevant year as at 30 June 2014.

Return to footnote 25 referrer

Footnote 26

Based on 2009 to 2013 SAR lodged data.

Return to footnote 26 referrer

    Last modified: 15 Dec 2014QC 43403