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SMSF population analysis tables

Data on assets, membership and flow of funds.

Last updated 29 June 2020

About this data

The following tables contain information for SMSFs and SMSF members as at 30 June 2019.

These tables are updated on an annual basis when the June quarter updates are published.

To view figures prior to 2015 refer to historical data.

Asset allocation by asset value of the fund table

This table contains the distribution of assets held by SMSFs of different sizes, based on total fund assets. These tables are based on actual return data for the 2015 to 2018 financial years.

The data is provided by SMSFs reporting their financial position as at 30 June of the relevant financial year.

The data was extracted on 29 August 2019.

Asset value ranges of funds – 2017–18

Asset type

$1
to
$50k

>$50k
to
$100k

>$100k
to
$200k

>$200k
to
$500k

>$500k
to
$1m

>$1m
to
$2m

>$2m
to
$5m

>$5m
to
$10m

>$10
to
$20m

>$20m
to
$50m

>$50m

Listed trusts

1.2%

2.2%

3.5%

4.7%

5.4%

5.8%

5.3%

4.5%

3.9%

2.4%

1.8%

Unlisted trusts

2.2%

4.6%

6.8%

7.1%

8.0%

9.8%

11.9%

14.3%

17.0%

20.1%

19.9%

Insurance policy

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other managed investments

1.1%

1.9%

2.9%

3.9%

4.5%

5.3%

5.4%

5.2%

4.8%

3.6%

2.3%

Cash and term deposits

53.6%

47.4%

43.3%

29.8%

24.3%

23.4%

20.9%

17.9%

15.2%

12.4%

16.6%

Debt securities

0.2%

0.3%

0.4%

0.7%

1.1%

1.5%

1.8%

2.0%

2.1%

1.8%

0.6%

Loans

1.7%

2.3%

1.7%

0.7%

0.5%

0.5%

0.6%

0.8%

0.9%

2.0%

3.8%

Listed shares

22.3%

23.7%

24.6%

24.5%

26.5%

29.8%

31.0%

31.2%

29.3%

23.1%

16.9%

Unlisted shares

2.2%

2.5%

1.8%

1.0%

0.7%

0.7%

1.0%

1.4%

2.2%

3.9%

2.4%

Limited recourse borrowing arrangements

<0.1%

0.2%

1.2%

12.6%

12.8%

5.7%

3.2%

3.1%

4.0%

6.4%

13.1%

Non-residential real property

0.7%

1.5%

2.8%

5.3%

6.4%

8.3%

10.1%

11.0%

11.5%

13.8%

14.2%

Residential real property

0.9%

2.3%

3.1%

5.5%

6.4%

5.7%

4.9%

3.8%

3.5%

2.1%

0.7%

Collectables and personal use assets

0.5%

0.5%

0.3%

0.1%

0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other assets

11.7%

8.8%

5.8%

3.0%

2.3%

2.3%

2.4%

2.6%

3.1%

3.6%

4.2%

Overseas shares

1.1%

0.9%

0.8%

0.7%

0.6%

0.7%

1.0%

1.5%

1.8%

3.0%

3.2%

Overseas non- residential real property

0.1%

0.1%

0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

0.3%

<0.1%

Overseas residential real property

0.1%

0.4%

0.3%

0.1%

0.1%

<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%

0.2%

0.2%

0.2%

0.5%

<0.1%

Other overseas assets

0.3%

0.4%

0.4%

0.3%

0.3%

0.3%

0.4%

0.4%

0.5%

1.1%

0.4%

Total

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

Asset value ranges of funds – 2016–17

Asset type

$1
to
$50k

>$50k
to
$100k

>$100k
to
$200k

>$200k
to
$500k

>$500k
to
$1m

>$1m
to
$2m

>$2m
to
$5m

>$5m
to
$10m

>$10
to
$20m

>$20m
to
$50m

>$50m

Listed trusts

1.3%

2.2%

3.1%

4.0%

4.6%

4.8%

4.5%

3.8%

3.4%

2.2%

2.2%

Unlisted trusts

2.5%

4.9%

6.4%

6.8%

7.8%

9.3%

11.4%

13.9%

17.2%

20.0%

17.7%

Insurance policy

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

0.1%

<0.1%

Other managed investments

1.2%

1.8%

2.6%

3.7%

4.3%

4.9%

4.9%

4.9%

4.2%

3.3%

2.1%

Cash and term deposits

53.2%

48.5%

45.5%

31.4%

26.6%

26.2%

23.7%

19.8%

15.9%

12.7%

12.8%

Debt securities

0.2%

0.3%

0.4%

0.7%

1.1%

1.4%

1.8%

2.0%

2.0%

1.8%

2.1%

Loans

1.7%

2.2%

1.7%

0.8%

0.5%

0.5%

0.6%

0.8%

1.1%

2.4%

1.9%

Listed shares

22.6%

22.8%

23.2%

23.4%

25.4%

28.5%

29.3%

29.0%

26.1%

19.8%

16.2%

Unlisted shares

2.5%

2.4%

2.0%

1.1%

0.7%

0.7%

1.0%

1.4%

2.3%

4.0%

2.9%

Limited recourse borrowing arrangements

<0.1%

0.2%

1.3%

12.5%

12.0%

5.6%

3.3%

3.2%

4.6%

8.8%

13.5%

Non-residential real property

0.8%

1.7%

3.1%

5.7%

7.1%

8.9%

10.7%

11.9%

13.7%

14.2%

15.5%

Residential real property

0.9%

2.2%

3.1%

5.8%

6.6%

5.7%

5.1%

4.2%

3.7%

2.2%

0.7%

Collectables and personal use assets

0.4%

0.5%

0.4%

0.1%

0.1%

0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other assets

11.2%

8.5%

5.6%

3.0%

2.4%

2.4%

2.5%

3.1%

3.7%

4.9%

9.4%

Overseas shares

0.7%

0.7%

0.7%

0.5%

0.5%

0.6%

0.8%

1.3%

1.4%

2.4%

2.9%

Overseas non- residential real property

0.1%

0.1%

0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

0.2%

<0.1%

Overseas residential real property

0.2%

0.5%

0.3%

0.1%

0.1%

<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%

0.1%

0.2%

0.2%

0.3%

0.1%

Other overseas assets

0.4%

0.6%

0.5%

0.3%

0.3%

0.3%

0.3%

0.4%

0.5%

0.8%

0.2%

Total

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

Asset value ranges of funds – 2015–16

Asset type

$1
to
$50k

>$50k
to
$100k

>$100k
to
$200k

>$200k
to
$500k

>$500k
to
$1m

>$1m
to
$2m

>$2m
to
$5m

>$5m
to
$10m

>$10
to
$20m

>$20m
to
$50m

>$50m

Listed trusts

1.4%

2.1%

3.1%

4.0%

4.6%

4.9%

4.6%

4.2%

3.5%

2.8%

2.2%

Unlisted trusts

2.4%

4.3%

6.0%

6.7%

7.6%

9.0%

10.9%

13.3%

16.1%

17.9%

24.2%

Insurance policy

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other managed investments

1.5%

2.1%

2.8%

3.8%

4.5%

5.0%

5.2%

5.3%

5.3%

4.7%

3.1%

Cash and term deposits

53.5%

48.9%

45.6%

31.5%

27.0%

26.2%

23.5%

19.7%

16.0%

13.3%

12.6%

Debt securities

0.2%

0.2%

0.3%

0.7%

1.1%

1.4%

1.7%

1.9%

2.0%

1.9%

1.7%

Loans

2.0%

2.3%

1.6%

0.8%

0.5%

0.5%

0.6%

0.9%

1.3%

2.3%

3.0%

Listed shares

22.1%

23.1%

23.9%

24.5%

26.2%

28.8%

29.5%

29.6%

27.5%

25.2%

27.1%

Unlisted shares

2.7%

2.4%

2.0%

1.0%

0.7%

0.8%

1.0%

1.4%

2.7%

4.0%

1.9%

Limited recourse borrowing arrangements

0.2%

0.6%

1.5%

8.9%

8.1%

3.9%

2.5%

2.6%

4.2%

6.6%

7.1%

Non-residential real property

1.0%

2.0%

3.3%

7.4%

9.3%

10.7%

12.3%

12.9%

13.0%

10.6%

10.6%

Residential real property

0.9%

2.0%

2.5%

6.4%

6.9%

5.3%

4.4%

3.2%

2.3%

1.5%

0.5%

Collectables and personal use assets

0.4%

0.5%

0.4%

0.1%

0.1%

0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other assets

10.4%

7.9%

5.6%

3.1%

2.6%

2.5%

2.7%

3.2%

3.9%

5.0%

4.8%

Overseas shares

0.6%

0.5%

0.6%

0.5%

0.4%

0.5%

0.7%

1.0%

1.2%

2.2%

0.9%

Overseas non- residential real property

0.1%

0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

0.2%

<0.1%

Overseas residential real property

0.2%

0.4%

0.3%

0.1%

0.1%

<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%

0.1%

0.2%

0.3%

0.4%

<0.1%

Other overseas assets

0.5%

0.6%

0.6%

0.3%

0.3%

0.3%

0.4%

0.5%

0.7%

1.5%

0.1%

Total

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

Asset value ranges of funds – 2014–15

Asset type

$1
to
$50k

>$50k
to
$100k

>$100k
to
$200k

>$200k
to
$500k

>$500k
to
$1m

>$1m
to
$2m

>$2m
to
$5m

>$5m
to
$10m

>$10
to
$20m

>$20m
to
$50m

>$50m

Listed trusts

1.4%

2.0%

2.7%

3.8%

4.3%

4.5%

4.3%

3.9%

3.5%

2.9%

1.9%

Unlisted trusts

2.2%

3.9%

5.7%

6.3%

7.1%

8.4%

10.1%

12.5%

14.9%

16.8%

21.6%

Insurance policy

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other managed investments

1.4%

2.0%

2.8%

3.9%

4.7%

5.1%

5.1%

5.3%

5.8%

4.5%

2.0%

Cash and term deposits

53.8%

50.0%

46.9%

32.9%

28.2%

26.9%

24.0%

20.2%

16.4%

14.0%

16.3%

Debt securities

0.1%

0.2%

0.3%

0.6%

1.0%

1.2%

1.5%

1.6%

2.0%

1.9%

1.0%

Loans

2.0%

2.4%

1.6%

0.8%

0.5%

0.5%

0.6%

0.8%

1.1%

2.4%

4.3%

Listed shares

21.3%

21.9%

23.2%

24.8%

27.4%

30.2%

31.7%

31.9%

30.9%

27.5%

20.8%

Unlisted shares

2.4%

2.4%

2.0%

1.0%

0.8%

0.8%

1.0%

1.3%

2.3%

2.1%

6.1%

Limited recourse borrowing arrangements

0.2%

0.7%

1.3%

7.7%

6.6%

3.2%

2.1%

2.4%

3.4%

6.0%

9.6%

Non-residential real property

0.9%

2.0%

3.6%

8.1%

10.0%

11.0%

12.3%

12.6%

11.9%

11.3%

5.8%

Residential real property

1.1%

2.0%

2.5%

5.8%

6.0%

4.5%

3.5%

2.7%

2.0%

1.4%

2.5%

Collectables and personal use assets

0.5%

0.6%

0.4%

0.2%

0.1%

0.1%

0.1%

0.1%

<0.1%

<0.1%

<0.1%

Other assets

11.4%

8.3%

5.5%

3.2%

2.6%

2.5%

2.7%

3.2%

3.5%

4.8%

7.0%

Overseas shares

0.5%

0.5%

0.5%

0.4%

0.4%

0.4%

0.6%

0.9%

1.2%

2.4%

0.5%

Overseas non- residential real property

0.1%

0.1%

0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

0.2%

<0.1%

Overseas residential real property

0.2%

0.4%

0.3%

0.1%

0.1%

<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%

0.1%

0.2%

0.3%

0.5%

0.1%

Other overseas assets

0.5%

0.7%

0.6%

0.4%

0.3%

0.4%

0.5%

0.5%

0.8%

1.3%

0.5%

Total

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

Membership sizes table

This table shows the distribution of SMSFs based on the number of members. These figures are based on SMSF annual return data.

The data was extracted on 29 August 2019.

Proportion of funds by number of members (%)

Number of members

2017–18

2016–17

2015–16

2014–15

1

23.4%

22.9%

22.8%

22.8%

2

69.5%

69.6%

69.5%

69.4%

3

3.5%

3.6%

3.7%

3.8%

4

3.6%

3.8%

3.9%

4.0%

Total

100%

100%

100%

100%

Fund demographic tables

These tables contain estimates of the proportion of funds, members and assets, by state and territory.

State or territory refers to where the fund is administered, not necessarily where the members live.

These figures are estimates based on SMSF annual return data for the 2015 to 2018 financial years.

The data was extracted on 29 August 2019.

Funds, by state/territory

State/territory

2017–18

2016–17

2015–16

2014–15

ACT

1.7%

1.6%

1.6%

1.7%

NSW

33.2%

33.7%

33.4%

33.2%

NT

0.2%

0.2%

0.2%

0.2%

QLD

16.9%

16.7%

16.8%

16.6%

SA

6.9%

6.9%

6.9%

7.0%

TAS

1.3%

1.3%

1.3%

1.3%

VIC

30.3%

30.3%

30.2%

30.2%

WA

9.6%

9.4%

9.6%

9.8%

Total

100%

100%

100%

100%

Members, by state/territory

State/territory

2017–18

2016–17

2015–16

2014–15

ACT

1.7%

1.6%

1.6%

1.7%

NSW

33.3%

33.8%

33.4%

33.3%

NT

0.2%

0.2%

0.2%

0.2%

QLD

16.8%

16.6%

16.8%

16.6%

SA

6.9%

6.9%

6.9%

7.0%

TAS

1.3%

1.3%

1.3%

1.3%

VIC

30.2%

30.2%

30.1%

30.1%

WA

9.6%

9.4%

9.6%

9.9%

Total

100%

100%

100%

100%

Value of assets, by state/territory

State/territory

2017–18

2016–17

2015–16

2014–15

ACT

1.8%

1.7%

1.7%

1.8%

NSW

35.3%

35.8%

35.0%

34.4%

NT

0.2%

0.2%

0.2%

0.2%

QLD

15.5%

15.3%

15.7%

15.7%

SA

6.8%

6.9%

7.0%

7.1%

TAS

1.2%

1.2%

1.2%

1.2%

VIC

30.4%

30.4%

30.2%

30.3%

WA

8.8%

8.5%

9.0%

9.2%

Total

100%

100%

100%

100%

Member demographic table – age ranges

This table contains the age distribution of individuals who were members of SMSFs as at the end of June 2019.

The data is an estimate based on Australian Business Register (ABR) data.

It was extracted on 29 August 2019.

Members, by sex and age range

Age ranges

Male

Female

Total

<25

0.5%

0.5%

0.5%

25–34

3.2%

3.3%

3.2%

35–44

10.8%

11.7%

11.2%

45–49

9.7%

10.5%

10.1%

50–54

10.9%

11.7%

11.3%

55–59

12.9%

13.5%

13.2%

60–64

13.0%

13.7%

13.3%

65–69

12.9%

13.4%

13.1%

70–74

12.3%

11.4%

11.8%

75–84

11.7%

9.0%

10.4%

85+

2.2%

1.3%

1.8%

Total

100%

100%

100%

All ages

52.7%

47.3%

100%

Member demographic table – income ranges

This table contains the distribution of the taxable income of individuals who were SMSF members as at the end of June 2019.

The data is an estimate based on ABR data and the member’s most recently lodged personal tax return.

It was extracted on 29 August 2019.

Members, by sex and income ranges

Income ranges

Male

Female

Total

$0 to $20,000

19.9%

26.1%

22.8%

>$20,000 to $40,000

16.0%

20.8%

18.3%

>$40,000 to $60,000

10.6%

13.7%

12.1%

>$60,000 to $80,000

9.7%

10.0%

9.8%

>$80,000 to $100,000

9.4%

8.5%

9.0%

>$100,000 to $150,000

13.1%

8.6%

11.0%

>$150,000 to $200,000

8.0%

5.0%

6.6%

>$200,000 to $500,000

8.6%

4.1%

6.5%

>$500,000

2.7%

1.0%

1.9%

Unknown

2.1%

2.1%

2.1%

Total

100%

100%

100%

Total asset range tables

These tables show:

  • the proportion of funds by their size (based on asset range)
  • the proportion of total assets that are held by SMSFs of different sizes (based on their asset range).

These figures are estimates based on SMSF annual return data for the 2015 to 2018 financial years.

The data was extracted on 29 August 2019.

Proportion of funds, by asset range of fund

Asset Ranges

2017–18

2016–17

2015–16

2014–15

$0 to $50,000

5.6%

5.8%

6.1%

6.7%

>$50,000 to $100,000

2.9%

3.6%

4.2%

4.5%

>$100,000 to $200,000

7.1%

8.2%

9.2%

9.5%

>$200,000 to $500,000

22.4%

23.3%

24.3%

24.0%

>$500,000 to $1m

25.0%

24.4%

24.2%

23.6%

>$1m to $2m

20.4%

19.2%

18.3%

18.0%

>$2m to $5m

13.1%

12.1%

11.0%

10.9%

>$5m to $10m

2.7%

2.5%

2.2%

2.2%

>$10m to $20m

0.7%

0.6%

0.4%

0.4%

>$20m to $50m

0.1%

0.1%

0.1%

0.1%

>$50m

<0.1%

<0.1%

<0.1%

<0.1%

Total

100%

100%

100%

100%

Proportion of assets, by asset range of fund

Asset Ranges

2017–18

2016–17

2015–16

2014–15

$0 to $50,000

<0.1%

0.1%

0.1%

0.1%

>$50,000 to $100,000

0.2%

0.2%

0.3%

0.3%

>$100,000 to $200,000

0.8%

1.0%

1.3%

1.3%

>$200,000 to $500,000

6.2%

6.8%

7.7%

7.7%

>$500,000 to $1m

14.1%

14.6%

15.9%

15.8%

>$1m to $2m

22.6%

22.5%

23.3%

23.5%

>$2m to $5m

30.8%

30.2%

29.9%

30.1%

>$5m to $10m

14.4%

14.2%

13.4%

13.5%

>$10m to $20m

6.7%

6.4%

5.3%

5.1%

>$20m to $50m

2.8%

2.8%

2.3%

2.0%

>$50m

1.2%

1.2%

0.7%

0.7%

Total

100%

100%

100%

100%

Average and median assets table

This table shows the average and median total assets per SMSF member and per SMSF at the end of each financial year.

These figures are estimates based on SMSF annual return data for the 2015 to 2018 financial years.

The data was extracted on 29 August 2019.

Average and median assets table

Asset values

2017–18
($)

2016–17
($)

2015–16
($)

2014–15
($)

Average assets per member

678,621

636,926

581,355

569,988

Median assets per member

408,237

372,316

342,323

334,663

Average assets per SMSF

1,271,356

1,199,263

1,096,521

1,076,894

Median assets per SMSF

719,840

660,993

610,607

598,557

Flow of funds table

This table shows estimates of the total amount of ‘flows’ into and out of SMSFs during each financial year. It shows:

  • contributions – member and employer
  • transfers – inward and outward
  • benefits payments
  • total expenses
  • operating expenses.

Total expenses includes deductible and non-deductible expenses reported on the SMSF annual return.

The operating expenses category is based on the following return labels:

  • SMSF auditor fee
  • management and administration expenses
  • other amounts
  • supervisory levy.

These figures are estimates based on SMSF annual return data for the 2015 to 2018 financial years.

The data was extracted on 02 August 2019.

There was a significant drop of $22,245 million (66%) in the level of member contributions from $33,867 million in 2016–17 to $11,622 million in 2017–18.

Benefit payments made by SMSFs also decreased by 15% to $37,686 million in 2017–18, after peaking at $44,290 million in 2016–17.

We attribute this decline to a normalisation of flows after a spike in the 2016–17 year. Some SMSFs restructured in recent years to prepare for the superannuation measures that came into effect 1 July 2017, in particular the introduction of the $1.6 million total super balance and transfer balance cap.

Flow of funds, by type

Year

Member contributions
($m)

Employer contributions
($m)

Inward transfers
($m)

Outward transfers
($m)

Benefit payments
($m)

Total expenses
($m)

Operating expenses
($m)

2017–18

11,622

5,733

15,139

8,932

37,686

8,431

3,649

2016–17

33,867

7,248

17,947

8,873

44,290

8,238

3,599

2015–16

24,162

7,121

14,826

5,444

34,986

7,878

3,720

2014–15

24,745

6,881

14,944

5,589

33,260

6,535

2,966

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