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Data tables

Last updated 19 February 2023

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.

SMSF population and assets, 2017–18 to 2021–22

 

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

Annual SMSF growth

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.

Assets by fund type

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 distribution, 30 June 2022

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.
Distribution of SMSFs by fund size in year before wind-up, 2016–17 to 2020–21

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%

Distribution of SMSFs in year of wind up by fund phase, 2016–17 to 2020–21

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%

SMSF average assets in year before wind-up by fund phase, 2016–17 to 2020–21

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

SMSF median assets in year before wind-up by fund phase, 2016–17 to 2020–21

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 period (years) from establishment of SMSFs to wind-up, 2016–17 to 2020–21

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.

SMSF average and median asset sizes, 2016–17 to 2020–21

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.

SMSF asset size in establishment year, 2016–17 to 2020–21

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.

Distribution of SMSFs by asset size in establishment year, 2016–17 to 2020–21

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.

Total SMSF contributions, 2016–17 to 2020–21

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

Mean SMSF contributions (per member), 2016–17 to 2020–21

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

Median SMSF contributions (per member), 2016–17 to 2020–21

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

Contributions to SMSFs as a proportion of total super contributions, 2016–17 to 2020–21

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.

Total SMSF rollovers, 2016–17 to 2020–21

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

Mean SMSF rollovers, 2016–17 to 2020–21

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

Median SMSF rollovers, 2016–17 to 2020–21

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

Distribution of total inward rollovers by fund size, 2016–17 to 2020–21

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%

Distribution of total outward rollovers by fund size, 2016–17 to 2020–21

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 (per SMSF), 2016–17 to 2020–21

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

Distribution of total SMSF benefit payments by type, 2016–17 to 2020–21

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%

Distribution of SMSF members receiving benefit payments by age, 2020–21

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.

Breakdown of SMSF fund flows, 2016–17 to 2020–21

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.

Distribution of SMSFs by payment phase

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.
Distribution of SMSFs by phase and asset range, 2020–21

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%

Distribution of SMSF members by member closing balance and payment phase, 2020–21

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).

SMSF trustee type

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 SMSF auditors performing audits, 2016–17 to 2020–21

Number of auditors

2020–21

2019–20

2018–19

2017–18

2016–17

Total

3,944

4,701

5,098

5,445

5,764

Distribution of SMSF auditors by number of audits carried out, 2016–17 to 2020–21

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%

Distribution of SMSFs by total audits performed by their auditor, 2016–17 to 2020–21

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%

Distribution of total assets audited by number of audits, 2016–17 to 2020–21

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.

Average and median SMSF auditor fees, 2016–17 to 2020–21

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

Distribution of SMSFs by audit fee range, 2016–17 to 2020–21

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.

Distribution of SMSF annual return lodgments by number of tax agents, 2016–17 to 2020–21

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).

Distribution of SMSF contraventions by type, 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 distribution of all SMSF members at 30 June 2022, and members by establishment year of SMSF

Age range

All members
at June 2022

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 distribution of SMSF members and non-SMSF members, 30 June 2021

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%

SMSF member taxable income and member balance by age range, 30 June 2021

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

Non-SMSF member(d) taxable income by age range, 2020–21

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.

Average SMSF member balance (female), 2016–17 to 2020–21

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

Average SMSF member balance (male), 2016–17 to 2020–21

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.

Distribution of SMSF members by gender and closing balance range, 30 June 2021

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.

Distribution of members by account balance range, 2016–17 to 2020–21

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%

Distribution of funds by asset range, 2016–17 to 2020–21

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%

Distribution of total fund assets by asset range, 2016–17 to 2020–21

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.

Average and median returns for SMSFs, 2016–17 to 2020–21

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.

SMSF average ROA by fund size, 2016–17 to 2020–21

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%

SMSF average ROA by fund age, 2016–17 to 2020–21

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%

Distribution of SMSFs by ROA, 2016–17 to 2020–21

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 – average and median(e)

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.

Average total expenses by SMSF asset range

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

Median total expenses by SMSF asset range

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 – average and median(f)

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.

Average expenses by expense type, 2016–17 to 2020–21

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

Median expense by expense type, 2016–17 to 2020–21

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.

Average expenses by expense type and range, year ended 30 June 2021

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

Median expenses by expense type and range, year ended 30 June 2021

 

$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.
SMSF average expense ratios, 2016–17 to 2020–21

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%

Distribution of SMSFs by average expense ratio range, 2020–21

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.

SMSF average expense ratios by fund size, 2020–21

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.

SMSF asset allocations, 30 June 2021

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.

SMSF limited recourse borrowing arrangement asset allocations, 30 June 2021

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.

Total LRBA assets and proportion of SMSFs reporting LRBAs, 2016–17 to 2020–21

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%

SMSF investment in real property and borrowings, 2016–17 to 2020–21

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.
SMSF population holding 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%

Distribution of SMSF asset holdings by asset type

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.

SMSF asset allocation by fund phase, 30 June 2021

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.

Distribution of SMSFs by asset concentration, 2016–17 to 2020–21

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%

Distribution of SMSF assets by asset concentration, 2016–17 to 2020–21

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.

SMSF asset concentration by fund size, 30 June 2021

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.

SMSF asset concentration by type, 30 June 2021

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.

SMSF asset concentration by phase, 30 June 2021

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%

QC71407