The ATO’s SMSF statistical report throws light on super funds scenario in Australia. The report has summarised all the data and various factors that influence the investment pattern, number of members, level of smsf audit and other specific things.
The report says that out of total superfunds during year 2010-2011:
1. Superfunds have over 913000 members.
2. The total value of assets in smsf sector is $440 Billion.
3. Every year, 26000 new smsf are reported to be established since 2008.
4. In recent years, the ratio of member to employee contributions has reached 2:1.
5. Majority of superfund’s hold their assets in cash and term deposits and Australian listed shares.
6. Smaller super funds prefer cash and term deposits.
7. The average balance for a member is $506,000.
8. The operating expense ratios have declined from 0.65% to 0.54%.
9. Over 64% of smsf are in accumulation mode but the trend is shifting towards superfunds that can arrange payment pensions sooner.
Smsf advice is very important and all the care must be taken to make the most out of your superfund. To know more about smsf Brisbane, please visit BBW Business Services
The report says that out of total superfunds during year 2010-2011:
