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Data tables

The main source of data for these tables is lodged SMSF annual returns.

Last updated 24 February 2022

The main source of data for these tables is 2019–20 SMSF annual returns that have been lodged.

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 2021.

You can download all the data tables in Excel format – see Data tables (XLXS 611KB)This link will download a file.

For statistics on the taxation of SMSFs (and other entities) see Taxation statistics.

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 2021.

SMSF population and assets, 2016–17 to 2020–21

 

2020–21

2019–20

2018–19

2017–18

2016–17

Establishments

25,312

21,723

20,341

25,332

30,306

Wind ups

2,187

15,856

17,252

24,898

14,849

Net establishments

23,125

5,867

3,089

434

15,457

Total SMSFs

597,900

574,775

568,908

565,819

565,385

Total members

1,114,529

1,071,788

1,067,106

1,060,953

1,065,547

Total assets ($m)

$822,045

$741,859

$732,324

$693,674

$663,175

Annual SMSF growth

SMSFs

2020–21

2019–20

2018–19

2017–18

2016–17

2015–16

Total SMSFs

597,900

574,775

568,908

565,819

565,385

549,928

Growth

4.0%

1.0%

0.5%

0.1%

2.8%

 –

Table 2: Australian superannuation sector

This table shows:

  • total assets held in APRA-regulated funds, SMSFs and other funds at 30 June 2016 and 30 June 2021
  • the percentage change from June 2016 to 2021
  • the proportion for each fund type at 30 June 2021.

These figures are sourced from the APRA June 2021 Quarterly Superannuation Performance Statistics, 24 August 2021, Key Statistics Table and the Self-managed super fund quarterly statistical report – June 2021.

Assets by fund type

Fund Type

Assets at 30 June 2021 ($b)

Proportion (%) 30 June 2021

Assets at 30 June 2020 ($b)

Assets at 30 June 2016 ($b)

Change in assets from 2016 to 2021 (%)

Corporate

$61.1

1.8%

$57.2

$54.6

12%

Industry

$927.1

28.1%

$747.4

$466.4

99%

Public Sector

$584.2

17.7%

$530.5

$223.9

161%

Retail

$688.5

20.8%

$593.2

$545.3

26%

SMSFs

$822.0

24.9%

$741.9

$597.7

38%

Other(a)

$220.3

6.7%

$210.0

$188.8

17%

Total

$3,303.2

100%

$2,880.2

$2,076.7

59%

(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 2021

SMSF age in years from establishment

Proportion of SMSFs

In 1st year of establishment

4.1%

>1 – 2 years

3.4%

>2 – 3 years

3.2%

>3 – 5 years

8.5%

>5 – 10 years

19.2%

>10 years

61.7%

N/A

0.0%

Total

100%

Average SMSF age (years)

11.63

Median SMSF age (years)

11

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, 2015–16 to 2019–20

Fund size

2019-20

2018-19

2017-18

2016-17

2015-16

>$0-$50k

17.0%

17.7%

20.1%

21.7%

26.4%

>$50k-$100k

8.5%

8.9%

9.5%

10.4%

11.6%

>$100k-$200k

13.6%

15.7%

17.1%

17.4%

17.4%

>$200k-$500k

29.5%

29.9%

29.2%

28.1%

25.8%

>$500k-$1m

19.6%

17.8%

16.5%

15.3%

12.8%

>$1m-$2m

8.8%

7.6%

6.0%

5.1%

4.5%

>$2m-$5m

2.7%

2.0%

1.5%

1.7%

1.3%

>$5m

0.3%

0.3%

0.2%

0.3%

0.2%

Total

100%

100%

100%

100%

100%

Distribution of SMSFs in year of wind up by fund phase, 2015–16 to 2019–20

Fund Phase

2019–20

2018–19

2017–18

2016–17

2015–16

Accumulation

59.2%

59.5%

75.0%

66.9%

68.0%

Retirement

40.8%

40.5%

25.0%

33.1%

32.0%

Total

100%

100%

100%

100%

100%

SMSF average assets in year before wind-up by fund phase, 2015–16 to 2019–20

Fund phase

2019–20

2018–19

2017–18

2016–17

2015–16

Accumulation

$323,137

$302,372

$267,653

$264,032

$216,472

Retirement

$686,974

$620,708

$533,216

$563,182

$478,574

All SMSFs

$487,299

$442,862

$381,328

$374,981

$318,118

SMSF median assets in year before wind-up by fund phase, 2015–16 to 2019–20

Fund phase

2019–20

2018–19

2017–18

2016–17

2015–16

Accumulation

$167,031

$154,930

$138,394

$131,059

$94,527

Retirement

$475,710

$426,550

$376,816

$365,399

$303,793

All SMSFs

$293,089

$255,031

$222,089

$200,844

$160,856

Average period (years) from establishment of SMSFs to wind-up, 2015–16 to 2019–20

Average

2019–20

2018–19

2017–18

2016–17

2015–16

Number of Years

11.5

11.1

11.2

10.0

9.0

Table 5: Average and median asset sizes

These tables show:

  • the average and median member account balances and SMSF assets at the end of each financial year
  • member balances by phase at 30 June 2020.

To ensure consistency, the figures used in the first table are those reported in the Self-managed super fund quarterly statistical report – June 2021.

This table was updated in June 2024.

SMSF average and median asset sizes, 2015–16 to 2019–20

Assets

2019–20

2018–19

2017–18

2016–17

2015–16

Average assets per member

$695,757

$690,656

$657,543

$627,471

$577,159

Median assets per member

$414,912

$404,632

$382,380

$363,908

$338,631

Average assets per SMSF

$1,300,728

$1,296,648

$1,235,784

$1,180,824

$1,088,126

Median assets per SMSF

$733,926

$718,540

$679,079

$646,862

$604,431

Member balances by phase, 30 June 2019

 Member balances

Accumulation balance with no retirement balance

Retirement balance with no accumulation balance

Accumulation balance where member also has retirement balance

Retirement balance where member also has accumulation balance

Member average balance

$427,945

$648,369

$841,936

$1,043,464

Member median balance

$204,175

$552,462

 $131,462

$1,047,526

Member balances by phase, 30 June 2020

 Member balances

Accumulation balance with no retirement balance

Retirement balance with no accumulation balance

Accumulation balance where member also has retirement balance

Retirement balance where member also has accumulation balance

Member average balance

$431,514

$621,580

 $836,649

$1,024,160

Member median balance

$213,823

$526,511

$133,889

$1,049,852

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, 2015–16 to 2019–20

Assets

2019–20

2018–19

2017–18

2016–17

2015–16

Average assets per member account balance

$209,965

$213,845

$207,645

$262,039

$192,504

Median assets per member account balance

$129,500

$127,814

$121,250

$138,101

$109,244

Average assets per SMSF

$390,892

$406,645

$396,290

$490,286

$371,873

Median assets per SMSF

$259,588

$268,552

$257,860

$297,820

$231,709

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, 2015–16 to 2019–20

Fund asset range

2019–20

2018–19

2017–18

2016–17

2015–16

$0–$50k

11.1%

11.1%

12.6%

10.5%

14.6%

>$50k–$100k

9.0%

9.4%

9.6%

8.1%

9.9%

>$100k–$200k

19.5%

18.1%

18.2%

17.3%

19.8%

>$200k–$500k

35.5%

35.4%

34.7%

32.3%

32.1%

>$500k–$1m

18.1%

18.5%

18.0%

20.4%

16.7%

>$1m–$2m

5.6%

5.8%

5.5%

8.7%

5.6%

>$2m–$5m

1.1%

1.6%

1.2%

2.5%

1.2%

>$5m

0.1%

0.1%

0.2%

0.3%

0.1%

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 2021.

For additional data on member and employer contributions by member age and gender, see Data tables (XLXS 611KB)This link will download a file.

Total SMSF contributions, 2015–16 to 2019–20

Contribution type

2019–20 ($m)

2018–19 ($m)

2017–18 ($m)

2016–17 ($m)

2015–16 ($m)

Member

$12,556

$11,773

$11,083

$32,557

$23,533

Employer

$5,357

$5,468

$5,715

$7,042

$6,944

Mean SMSF contributions (per member), 2015–16 to 2019–20

Contribution type

2019–20

2018–19

2017–18

2016–17

2015–16

Member

$37,766

$35,721

$33,652

$90,209

$67,251

Employer

$12,553

$12,846

$13,136

$16,151

$16,199

Median SMSF contributions (per member), 2015–16 to 2019–20

Contribution type

2019–20

2018–19

2017–18

2016–17

2015–16

Member

$16,000

$15,000

$14,879

$22,529

$16,614

Employer

$10,000

$10,409

$10,758

$12,000

$12,000

Contributions to SMSFs as a proportion of total super contributions, 2015–16 to 2019–20

Contribution type

2019–20

2018–19

2017–18

2016–17

2015–16

Member

34.0%

34.0%

35.0%

50.7%

51.8%

Employer

5.3%

5.6%

6.1%

7.6%

7.8%

Total SMSF

12.9%

13.1%

13.4%

25.3%

22.6%

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 2021.

Total SMSF rollovers, 2014–15 to 2018–19

Rollover type

2019–20 ($m)

2018–19 ($m)

2017–18 ($m)

2016–17 ($m)

2015–16 ($m)

Inward

$12,503

$12,424

$14,594

$17,414

$14,560

Outward

$8,583

$9,079

$8,206

$8,544

$5,308

Mean SMSF rollovers, 2015–16 to 2019–20

Rollover type

2019–20

2018–19

2017–18

2016–17

2015–16

Inward

$146,008

$189,681

$211,411

$239,138

$194,584

Outward

$380,521

$366,342

$359,334

$440,382

$297,114

Median SMSF rollovers, 2015–16 to 2019–20

Rollover type

2019–20

2018–19

2017–18

2016–17

2015–16

Inward

$19,321

$50,000

$70,000

$77,243

$77,285

Outward

$141,493

$141,636

$128,311

$120,000

$80,996

Distribution of total inward rollovers by fund size, 2015–16 to 2019–20

Fund size

2019–20

2018–19

2017–18

2016–17

2015–16

$0

1.1%

0.9%

0.7%

0.5%

0.4%

>$0–$50k

0.7%

0.6%

0.7%

0.5%

0.5%

>$50k–$100k

1.2%

1.2%

1.3%

1.1%

1.6%

>$100k–$200k

5.2%

4.7%

5.1%

4.9%

7.1%

>$200k–$500k

20.1%

19.7%

20.2%

17.6%

22.7%

>$500k–$1m

22.6%

22.3%

22.6%

18.3%

22.9%

>$1m–$2m

21.8%

21.4%

21.6%

18.8%

20.8%

>$2m–$5m

18.6%

20.9%

18.7%

22.7%

16.1%

>$5m–$10m

5.1%

5.3%

5.5%

9.0%

5.3%

>$10m–$20m

3.1%

2.2%

2.7%

4.4%

2.0%

>$20m–$50m

0.5%

0.7%

0.4%

1.9%

0.4%

>$50m

<0.1%

0.1%

0.5%

0.3%

0.3%

Total

100%

100%

100%

100%

100%

Distribution of total outward rollovers by fund size, 2015–16 to 2019–20

Fund size

2019–20

2018–19

2017–18

2016–17

2015–16

$0

39.8%

37.1%

32.2%

21.4%

26.6%

>$0–$50k

12.8%

13.7%

11.6%

8.4%

9.3%

>$50k–$100k

1.5%

1.9%

1.7%

1.5%

1.3%

>$100k–$200k

1.7%

2.1%

1.9%

1.5%

2.0%

>$200k–$500k

4.8%

4.8%

4.7%

4.1%

5.8%

>$500k–$1m

7.7%

7.4%

8.2%

6.3%

10.5%

>$1m–$2m

10.9%

10.9%

12.2%

11.3%

14.3%

>$2m–$5m

13.7%

14.2%

17.1%

24.8%

18.4%

>$5m–$10m

3.6%

4.9%

5.1%

11.3%

7.0%

>$10m–$20m

2.8%

2.4%

2.7%

6.5%

3.5%

>$20m–$50m

0.6%

0.5%

1.6%

2.4%

0.7%

>$50m

0.1%

0.2%

1.0%

0.5%

0.7%

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 2021. The average and median figures are based on SMSF annual returns.

SMSF benefit payments (per SMSF), 2015–16 to 2019–20

SMSF benefit payments

2019–20

2018–19

2017–18

2016–17

2015–16

Total ($m)

$32,435

$34,269

$32,868

$42,509

$33,971

Average ($)

$104,843

$118,642

$114,336

$145,150

$118,380

Median ($)

$54,590

$69,000

$66,000

$66,500

$62,226

Distribution of total SMSF benefit payments by type, 2015–16 to 2019–20

Type of benefit

2019–20

2018–19

2017–18

2016–17

2015–16

Income stream

59.8%

64.3%

64.9%

77.9%

76.5%

Lump sum

37.8%

32.4%

30.6%

13.7%

11.6%

Transition to retirement

2.5%

3.3%

4.5%

8.4%

11.9%

Total

100%

100%

100%

100%

100%

Distribution of SMSF members receiving benefit payments by age, 2019–20

Age range

% of members receiving benefit payments

Average member benefit payment

Average member balance(b)

<55

5.0%

$17,805

$366,926

55–59

2.8%

$39,301

$871,651

60–64

14.9%

$66,464

$1,085,365

65–69

25.9%

$69,355

$1,105,714

70–74

26.0%

$66,557

$1,141,528

>74

25.3%

$85,947

$1,188,560

Unknown(c)

<0.1%

$197,483

$1,334,106

Total

100%

$69,007

$1,089,469

(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 Data tables (XLXS 611KB)This link will download a file.

Table 11: SMSF net fund flow

This table shows net contributions, transfers, benefit payments, total expenses and net fund flow for SMSFs from the 2015–16 to 2019–20 financial years.

Breakdown of SMSF fund flows, 2014–15 to 2018–19

Flow type

2019–20 ($m)

2018–19 ($m)

2017–18 ($m)

2016–17 ($m)

2015–16 ($m)

Total contributions

$17,913

$17,241

$16,798

$39,599

$30,477

Net transfers

$3,920

$3,345

$6,388

$8,870

$9,252

Benefit payments

$32,435

$34,269

$32,868

$42,509

$33,971

Total expenses

$8,769

$8,941

$8,463

$8,033

$7,700

Net fund flow

$19,371

$22,623

$18,144

$2,072

$1,942

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 at 30 June 2020 by year

Payment phase

2019–20

2018–19

2017–18

2016–17

2015–16

Accumulation

55.1%

57.9%

58.7%

58.9%

56.3%

Partial retirement phase

9.6%

9.3%

9.2%

10.5%

11.0%

Full retirement phase

35.3%

32.8%

32.1%

30.6%

32.7%

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
  • the approximate distribution of members’ account balances by closing balance range and phase at 30 June 2020.
Distribution of SMSFs by phase and asset range, 2019–20

Asset range

Accumulation phase

Retirement phase

$0–$50k

7.2%

3.8%

>$50k–$100k

4.4%

0.7%

>$100k–$200k

9.9%

2.4%

>$200k–$500k

29.2%

13.6%

>$500k–$1m

26.9%

24.0%

>$1m–$2m

14.4%

28.1%

>$2m–$5m

6.7%

21.3%

>$5m–$10m

1.1%

4.8%

>$10m–$20m

0.3%

1.1%

>$20m–$50m

0.1%

0.2%

>$50m

<0.1%

<0.1%

Total

100%

100%

Distribution of SMSF members by member closing balance and payment phase, 2019–20

Member closing balance

Accumulation phase

Retirement phase

$0–$50k

20.9%

6.4%

>$50k–$100k

11.8%

2.9%

>$100k–$200k

19.2%

7.2%

>$200k–$500k

26.3%

23.1%

>$500k–$1m

13.0%

26.1%

>$1m–$1.4m

3.8%

11.9%

>$1.4m–$1.6m

1.1%

4.8%

>$1.6m–$2m

1.5%

5.4%

>$2m–$5m

2.2%

10.1%

>$5m

0.3%

2.2%

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 2021 and for new registrations in the 2019, 2020 and 2021 financial years.

This data is based on SMSF registrations via the Australian Business Register (ABR).

SMSF trustee type

Trustee type

% of all SMSFs at 30/06/2021

2020–21 registrations

2019–20 registrations

2018–19 registrations

Corporate

64.6%

85.1%

81.4%

81.9%

Individual

35.4%

14.9%

18.6%

18.1%

Total

100%

100%

100%

100%

Table 15: Audits performed by SMSF auditors

These tables show, for the 2015–16 to 2019–20 financial years:

  • the total number of SMSF auditors performing audits
  • the distribution of SMSF auditors by number of audits performed
  • the distribution of SMSF population by their SMSF auditor's annual audit completion number
  • the 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, 2015–16 to 2019–20

Number of auditors

2019–20

2018–19

2017–18

2016–17

2015–16

Total

4,628

5,079

5,423

5,747

6,035

Distribution of SMSF auditors by number of audits carried out, 2015–16 to 2019–20

Number of audits

2019–20

2018–19

2017–18

2016–17

2015–16

<5 funds

18.1%

14.8%

14.3%

13.8%

13.7%

5–50 funds

47.4%

46.5%

47.2%

47.9%

49.1%

51–250 funds

27.4%

31.0%

31.1%

31.4%

31.1%

>250 funds

7.0%

7.7%

7.4%

6.9%

6.1%

Total

100%

100%

100%

100%

100%

Distribution of SMSFs by total audits performed by their auditor, 2015–16 to 2019–20

Number of audits

2019–20

2018–19

2017–18

2016–17

2015–16

<5 funds

0.4%

0.3%

0.3%

0.3%

0.3%

5–50 funds

10.9%

10.4%

11.2%

12.2%

13.6%

51–250 funds

30.2%

31.3%

32.5%

34.4%

36.7%

>250 funds

58.5%

58.1%

56.0%

53.1%

49.4%

Total

100%

100%

100%

100%

100%

Distribution of total assets audited by number of audits, 2015–16 to 2019–20

Number of audits

2019–20

2018–19

2017–18

2016–17

2015–16

<5 funds

0.4%

0.3%

0.3%

0.3%

0.3%

5–50 funds

10.8%

10.3%

11.2%

12.0%

13.4%

51–250 funds

30.4%

32.6%

33.5%

35.0%

36.9%

>250 funds

58.4%

56.8%

55.1%

52.7%

49.5%

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, 2015–16 to 2019–20

SMSF auditor fees

2019–20

2018–19

2017–18

2016–17

2015–16

Average

$660

$685

$684

$688

$700

Median

$550

$550

$550

$550

$550

Distribution of SMSFs by audit fee range, 2015–16 to 2019–20

Audit fee range

2019–20

2018–19

2017–18

2016–17

2015–16

>$0–$499

38.7%

37.9%

38.4%

37.6%

36.9%

$500–$999

50.4%

49.6%

49.6%

49.9%

50.1%

$1,000–$1,999

9.3%

10.4%

9.8%

10.2%

10.6%

$2,000 and above

1.7%

2.1%

2.2%

2.3%

2.4%

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, 2015–16 to 2019–20

Number of SMSF annual returns lodged per tax agent

No. tax agents 2019–20

No. tax agents 2018–19

No. tax agents 2017–18

No. tax agents 2016–17

No. tax agents 2015–16

1

2,135

2,208

2,335

2,391

2,436

2

1,182

1,201

1,222

1,307

1,357

3

887

885

933

909

887

4

674

680

685

699

725

5

498

562

546

575

579

6–10

1,847

1,893

1,932

1,910

1,883

11–20

2,016

2,066

2,051

2,119

2,136

21–100

3,683

4,096

4,187

4,193

4,089

101–500

861

1,052

1,022

968

911

>500

32

36

32

27

25

Total

13,815

14,679

14,945

15,098

15,028

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 2021).

Distribution of SMSF contraventions by type, to 30 June 2021

Contravention type

% of total contraventions

% of value of contraventions

Acquisition of assets from related parties

1.1%

2.0%

Administrative type contraventions

11.7%

8.0%

Borrowings

7.7%

8.2%

In-house assets

17.3%

27.1%

Investments at arm's length

7.4%

9.4%

Loan to member/financial assistance

20.0%

13.6%

Operating standard type contraventions

8.2%

6.0%

Other

4.1%

0.9%

Separation of assets

12.7%

21.9%

Sole purpose

9.9%

3.0%

Total

100%

100%

Table 19: Age ranges of SMSF members

This table shows:

  • the approximate age distribution of SMSF members at 30 June 2021
  • the age distribution of members of SMSFs established in each financial year from 2015–16 to 2019–20.

This is based on ABR data.

Age distribution of SMSF members by establishment year of SMSF

Age range

All members
at June 2021

2019–20

2018–19

2017–18

2016–17

2015–16

<25

0.5%

1.4%

1.4%

1.5%

1.6%

1.6%

25–34

2.8%

12.1%

12.3%

12.8%

10.7%

11.3%

35–44

10.7%

32.7%

31.9%

31.8%

28.6%

29.8%

45–49

9.3%

17.7%

18.0%

17.7%

17.3%

16.9%

50–54

11.3%

14.7%

14.4%

14.3%

15.1%

15.3%

55–59

12.4%

11.3%

11.6%

11.3%

12.7%

12.5%

60–64

13.1%

6.0%

6.1%

6.2%

7.9%

7.7%

65–69

12.6%

2.6%

2.6%

2.9%

3.9%

3.4%

70–74

12.3%

1.1%

1.2%

1.2%

1.7%

1.0%

75–84

12.6%

0.4%

0.4%

0.3%

0.5%

0.3%

85+

2.5%

0.0%

0.0%

0.0%

0.0%

0.0%

Total

100%

100%

100%

100%

100%

100%

Average member age

60.6

46.4

46.5

46.4

47.8

47.3

Median member age

61.1

46.1

46.2

46.1

47.5

47.0

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 2020 (issued 29 January 2021).

This is based on ABR and SMSF annual return (SAR) data.

Age distribution of SMSF members and non-SMSF members, 30 June 2020

Age range

All SMSF members at 30 June 2020

All non-SMSF members at 30 June 2020

<25

0.7%

11.6%

25–34

2.8%

22.2%

35–44

10.1%

20.5%

45–49

9.3%

10.0%

50–54

11.1%

9.0%

55–59

13.4%

8.4%

60–64

14.3%

7.2%

65–69

13.8%

4.9%

70–74

12.5%

3.1%

75–84

10.8%

2.4%

85+

1.2%

0.5%

Unknown

0.0%

0.2%

Total

100%

100%

SMSF member taxable income and member balance by age range, 30 June 2020

Age range

Average taxable income

Median taxable income

Average member balance per 2020 SAR

Median member balance per 2020 SAR

<25

$56,372

$40,442

$58,043

$7,309

25–34

$94,973

$76,681

$90,400

$42,054

35–44

$131,952

$92,155

$170,910

$109,673

45–49

$149,222

$96,075

$262,479

$167,764

50–54

$149,642

$89,992

$379,153

$222,857

55–59

$144,225

$82,291

$573,227

$326,797

60–64

$112,288

$59,128

$823,558

$498,152

65–69

$88,323

$36,916

$966,890

$603,112

70–74

$80,352

$29,618

$1,037,925

$592,508

75–84

$77,573

$29,523

$1,087,883

$589,933

85+

$106,357

$39,991

$952,813

$476,245

Unknown

$ -

$ -

$765,146

$359,090

Total (all ages)

$116,437

$64,655

$695,757

$414,912

Non-SMSF member(d) taxable income by age range, 2019–20

Age range

Average taxable income

Median taxable income

<25

$33,832

$ 29,544

25–34

$ 57,590

$ 51,992

35–44

$ 74,951

$ 61,535

45–49

$ 80,913

$ 63,190

50–54

$ 79,587

$ 61,721

55–59

$ 76,061

$ 59,148

60–64

$ 63,890

$ 49,284

65–69

$ 52,693

$ 36,956

70–74

$ 43,539

$ 28,495

75–84

$ 39,818

$ 25,702

85+

$ 54,258

$ 37,705

Unknown

$ 48,847

$ 42,197

Total

$ 63,366

$ 50,144

(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 2020.

Table 21: Gender statistics

These tables show:

  • the average SMSF member account balances by gender and phase
  • the average SMSF member account balance by age and gender at 30 June 2020
  • the distribution of member account balances by gender and closing account balance range at 30 June 2020.

'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 2021.

This table was updated in June 2024.

Average SMSF member balance (female), 2015–16 to 2019–20

Phase

2019–20

2018–19

2017–18

2016–17

2015–16

Accumulation

$361,992

 $354,888

$332,911

 $296,770

$268,383

Retirement

$1,080,909

$1,102,746

$1,050,869

$1,005,849

$909,000

All SMSFs

$643,580

$639,644

$604,510

$575,493

$521,306

Average SMSF member balance (male), 2015–16 to 2019–20

Phase

2019–20

2018–19

2017–18

2016–17

2015–16

Accumulation

$471,302

$464,694

$437,691

$380,558

$352,470

Retirement

$1,224,177

$1,250,451

$1,199,266

$1,163,035

$1,067,551

All SMSFs

$767,978

$770,520

$732,899

$700,329

$647,871

Average SMSF member balance by age and gender, 30 June 2020

Age range

Female

Male

Overall

<25

$68,925

$62,074

$65,501

25–34

$90,099

$109,880

$100,328

35–44

$157,767

$203,956

$181,186

45–49

$240,842

$307,546

$274,472

50–54

$352,589

$434,688

$394,078

55–59

$545,407

$639,767

$593,753

60–64

$784,928

$925,997

$857,726

65–69

$958,979

$1,067,460

$1,015,322

70–74

$1,025,714

$1,157,965

$1,096,343

75–84

$1,083,539

$1,225,578

$1,165,362

85+

$1,039,918

$1,122,868

$1,093,288

Unknown

$861,963

$964,706

$887,025

For additional historical data for 2015-16 to 2018-19, see Data tables (XLXS 611KB)This link will download a file.

Distribution of SMSF members by gender and closing balance range, 30 June 2020

Member balance range

% of female members

% of male members

>$0–$50k

18.4%

12.1%

>$50k–$100k

9.7%

6.9%

>$100k–$200k

14.5%

14.4%

>$200k–$500k

22.9%

26.9%

>$500k–$1m

16.9%

19.3%

>$1m–$2m

11.7%

13.4%

>$2m–$5m

4.9%

5.7%

>$5m

0.8%

1.3%

Total

100%

100%

For additional historical data for 2015–16 to 2018–19, see Data tables (XLXS 611KB)This link will download a file.

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
  • the approximate distribution, 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 2021.

Distribution of members by account balance range, 2015–16 to 2019–20

Member account balance range

2019–20

2018–19

2017–18

2016–17

2015–16

$0–$50k

15.1%

15.9%

16.5%

17.3%

18.3%

>$50k–$100k

8.2%

8.7%

9.4%

9.9%

10.4%

>$100k–$200k

14.4%

14.6%

15.0%

15.2%

15.5%

>$200k–$500k

25.0%

24.1%

23.9%

23.5%

23.8%

>$500k–$1m

18.2%

17.7%

17.4%

17.2%

16.7%

>$1m–$1.4m

12.6%

12.4%

11.7%

11.1%

10.1%

>$1.4m–$1.6m

5.3%

5.4%

5.1%

4.8%

4.5%

>$1.6m-$2m

1.1%

1.2%

1.0%

0.9%

0.7%

>$2m–$5m

15.1%

15.9%

16.5%

17.3%

18.3%

>$5m

8.2%

8.7%

9.4%

9.9%

10.4%

Total

100%

100%

100%

100%

100%

Distribution of funds by asset range, 2015–16 to 2019–20

Fund asset range

2019–20

2018–19

2017–18

2016–17

2015–16

$0–$50k

4.9%

5.9%

5.9%

6.1%

6.3%

>$50k–$100k

2.7%

3.1%

3.4%

3.8%

4.3%

>$100k–$200k

6.6%

7.0%

7.8%

8.5%

9.3%

>$200k–$500k

22.3%

22.1%

23.0%

23.5%

24.4%

>$500k–$1m

25.8%

24.8%

24.5%

24.2%

24.1%

>$1m–$2m

20.7%

20.1%

19.5%

19.0%

18.1%

>$2m–$5m

13.4%

13.2%

12.5%

11.9%

10.9%

>$5m–$10m

2.8%

2.9%

2.6%

2.5%

2.2%

>$10m – $20m

0.7%

0.7%

0.7%

0.6%

0.4%

>$20m – $50m

0.1%

0.1%

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, 2015–16 to 2019–20

Fund asset range

2019–20

2018–19

2017–18

2016–17

2015–16

$0–$50k

<0.1%

0.1%

0.1%

0.1%

0.1%

>$50k–$100k

0.2%

0.2%

0.2%

0.2%

0.3%

>$100k–$200k

0.8%

0.8%

0.9%

1.1%

1.3%

>$200k–$500k

6.0%

6.0%

6.5%

6.9%

7.7%

>$500k–$1m

14.2%

13.8%

14.2%

14.7%

15.9%

>$1m–$2m

22.4%

21.9%

22.2%

22.5%

23.3%

>$2m–$5m

30.8%

30.7%

30.2%

30.0%

29.8%

>$5m–$10m

14.5%

14.9%

14.3%

14.1%

13.3%

>$10m–$20m

6.6%

7.2%

6.9%

6.3%

5.3%

>$20m–$50m

3.0%

3.2%

3.1%

2.8%

2.3%

>$50m

1.4%

1.4%

1.3%

1.2%

0.7%

Total

100%

100%

100%

100%

100%

Table 23: Average and median returns for SMSFs

These table show the average 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, 2015–16 to 2019–20

SMSF ROA

2019–20

2018–19

2017–18

2016–17

2015–16

Average

0.7%

7.3%

8.0%

11.3%

3.7%

Median

-1.6%

4.3%

4.0%

5.0%

0.2%

Table 24: Average return on assets by fund size and age

These tables show:

  • the average ROA of SMSFs by asset size
  • the average ROA by fund age
  • the distribution of SMSFs by ROA.

ROA is calculated by comparing net earnings and average assets during the financial year to determine the percentage return on assets.

SMSF average ROA by fund size, 2015–16 to 2019–20

Fund size

2019–20

2018–19

2017–18

2016–17

2015–16

$1–$50k

-22.0%

-19.8%

-15.6%

-15.6%

-16.5%

>$50k–$100k

-10.9%

-8.6%

-4.9%

-5.9%

-7.3%

>$100k–$200k

-5.9%

-2.6%

-1.0%

-0.9%

-3.5%

>$200–$500k

-1.9%

2.9%

3.7%

4.4%

0.0%

>$500k–$1m

-0.9%

5.9%

6.0%

6.9%

1.5%

>$1m–$2m

-0.4%

7.0%

8.4%

8.4%

2.4%

>$2m-$5m

0.5%

7.5%

7.8%

10.2%

3.4%

>$5m-$10m

1.3%

7.5%

8.2%

13.7%

4.9%

>$10m

3.3%

7.7%

9.0%

22.0%

9.6%

SMSF average ROA by fund age, 2015–16 to 2019–20

Fund age

2019–20

2018–19

2017–18

2016–17

2015–16

<2 years

-0.2%

3.2%

4.9%

4.7%

1.7%

2–3 years

0.2%

4.9%

5.9%

8.1%

2.5%

4–5 years

1.3%

5.7%

6.2%

7.8%

2.5%

>5 years

0.3%

6.9%

7.6%

10.6%

3.2%

Distribution of SMSFs by ROA, 2015–16 to 2019–20

ROA

2019–20

2018–19

2017–18

2016–17

2015–16

<–20%

5.3%

3.9%

3.0%

3.2%

3.9%

–20% to <–15%

3.3%

1.2%

1.0%

1.2%

1.7%

–15% to <–10%

6.9%

2.1%

1.9%

2.2%

3.9%

–10% to <–5%

15.7%

4.7%

4.5%

4.5%

10.4%

–5% to 0%

29.7%

13.8%

14.5%

13.4%

28.3%

>0% to 5%

23.3%

28.8%

31.7%

25.6%

34.1%

>5% to 10%

7.0%

26.5%

24.9%

24.7%

9.0%

>10%

8.8%

19.1%

18.4%

25.2%

8.5%

Total

100%

100%

100%

100%

100%

Table 25: Expenses

These tables show:

  • average and median total expenses for the 2016 to 2020 financial years
  • average and median total expenses by SMSF asset range for the 2016 to 2020 financial years
  • average and median operating expenses for the 2016 to 2020 financial years
  • average and median expenses by expense type for the 2016 to 2020 financial years
  • average and median expenses by expense type and asset range for the 2020 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

2019–20

2018–19

2017–18

2016–17

2015–16

Average

$15,308

$15,877

$14,961

$14,128

$13,918

Median

$8,228

$8,218

$7,674

$7,241

$7,066

(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

2019–20

2018–19

2017–18

2016–17

2015–16

>$0–$50k

$4,390

$4,315

$3,810

$3,585

$3,526

>$50k–$100k

$6,027

$6,257

$5,561

$5,484

$5,612

>$100k–$200k

$10,447

$10,704

$10,279

$9,930

$9,755

>$200k–$500k

$12,854

$13,269

$12,576

$11,826

$11,466

>$500k–$1m

$12,493

$13,012

$12,343

$11,926

$11,853

>$1m–$2m

$14,518

$15,133

$14,699

$14,706

$15,325

>$2m

$28,583

$31,027

$30,069

$28,794

$28,883

All funds

$15,308

$15,877

$14,961

$14,128

$13,918

Median total expenses by SMSF asset range

Asset range

2019–20

2018–19

2017–18

2016–17

2015–16

>$0–$50k

$2,024

$1,938

$1,780

$1,768

$1,874

>$50k–$100k

$2,708

$2,723

$2,615

$2,680

$2,888

>$100k–$200k

$4,585

$4,775

$4,658

$4,670

$4,764

>$200k–$500k

$7,239

$7,358

$6,938

$6,650

$6,578

>$500k–$1m

$8,209

$8,278

$7,861

$7,662

$7,739

>$1m–$2m

$9,924

$10,147

$9,674

$9,452

$9,592

>$2m

$15,923

$16,731

$16,016

$15,444

$15,032

All funds

$8,228

$8,218

$7,674

$7,241

$7,066

Operating expenses – average and median(f)

Operating expenses

2019–20

2018–19

2017–18

2016–17

2015–16

Average

$6,199

$6,404

$6,073

$5,935

$6,210

Median

$4,002

$4,020

$3,858

$3,818

$3,907

(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, 2015–16 to 2019–20

Expense type

2019–20

2018–19

2017–18

2016–17

2015–16

Interest expense within Australia

$15,679

$17,118

$16,594

$16,068

$16,404

Interest expense overseas

$15,289

$13,604

$13,517

$14,274

$16,888

Insurance premiums

$7,063

$6,930

$6,759

$6,566

$6,390

SMSF auditor fee

$660

$685

$684

$688

$700

Investment Expenses

$10,426

$10,459

$10,050

$9,495

$9,053

Management and admin expenses

$4,441

$4,399

$4,439

$4,252

$4,243

Forestry managed investment scheme

$7,776

$7,801

$5,632

$5,757

$7,874

Supervisory levy

$259

$259

$259

$259

$259

Other deductions

$2,561

$2,978

$2,574

$2,651

$3,147

Total expenses

$15,308

$15,877

$14,961

$14,128

$13,918

Median expense by expense type, 2015–16 to 2019–20

Expense type

2019–20

2018–19

2017–18

2016–17

2015–16

Interest expense within Australia

$12,666

$13,545

$12,929

$11,950

$11,450

Interest expense overseas

$9,071

$8,858

$9,762

$8,522

$9,188

Insurance premiums

$4,828

$4,694

$4,541

$4,395

$4,213

SMSF auditor fee

$550

$550

$550

$550

$550

Investment expenses

$5,969

$5,720

$5,326

$4,938

$4,498

Management and admin expenses

$2,883

$2,852

$2,766

$2,705

$2,663

Forestry managed investment scheme

$2,407

$2,532

$2,445

$2,308

$2,229

Supervisory levy

$259

$259

$259

$259

$259

Other deductions

$260

$396

$337

$370

$518

Total expenses

$8,228

$8,218

$7,674

$7,241

$7,066

The following two 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 2020

Expense type

$1-$50k

>$50k-$100k

>$100k-$200k

>$200k-$500k

>$500k-$1m

>$1m-$2m

>$2m

All funds

No. of funds reporting this expense

Interest expense within Australia

$10,155

$11,580

$12,469

$13,933

$15,767

$17,542

$29,025

$15,679

$57,170

Interest expense overseas

$9,834

$7,830

$9,870

$11,914

$17,321

$20,611

$21,737

$15,289

$296

Insurance premiums

$6,772

$4,817

$4,964

$5,834

$7,540

$9,513

$12,865

$7,063

$86,726

SMSF auditor fee

$571

$564

$578

$596

$629

$675

$809

$660

$327,535

Investment expenses

$2,637

$3,852

$5,789

$6,497

$7,270

$9,518

$21,526

$10,426

$224,214

Management and admin expenses

$1,583

$1,775

$2,260

$2,950

$3,903

$5,129

$8,115

$4,441

$404,918

Forestry managed investment scheme

$4,403

$1,952

$4,195

$5,196

$4,293

$5,402

$19,809

$7,776

$278

Supervisory levy

$259

$259

$259

$259

$259

$259

$259

$259

$423,397

Other deductions

$1,110

$1,340

$1,502

$1,539

$1,862

$2,208

$5,659

$2,561

$201,561

Total expenses

$4,390

$6,027

$10,447

$12,854

$12,493

$14,518

$28,583

$15,308

$423,397

Median expenses by expense type and range, year ended 30 June 2020

 

$1-$50k

>$50k-$100k

>$100k-$200k

>$200k-$500k

>$500k-$1m

>$1m-$2m

>$2m

All funds

No. of funds reporting this expense

Interest expense within Australia

$10,564

$11,918

$12,551

$13,089

$12,839

$11,524

$6,844

$12,666

$57,170

Interest expense overseas

$9,834

$8,478

$9,303

$10,113

$11,342

$10,096

$706

$9,071

$296

Insurance premiums

$3,935

$3,189

$3,591

$4,359

$5,499

$6,552

$8,238

$4,828

$86,726

SMSF auditor fee

$460

$480

$495

$538

$550

$550

$644

$550

$327,535

Investment expenses

$140

$737

$4,426

$5,084

$5,400

$6,765

$11,447

$5,969

$224,214

Management and admin expenses

$1,190

$1,421

$1,859

$2,393

$2,847

$3,409

$4,691

$2,883

$404,918

Forestry managed investment scheme

$3,735

$1,987

$1,972

$2,139

$2,107

$2,940

$5,064

$2,407

$278

Supervisory levy

$259

$259

$259

$259

$259

$259

$259

$259

$423,397

Other deductions

$262

$313

$408

$360

$259

$259

$259

$260

$201,561

Total expenses

$2,024

$2,708

$4,585

$7,239

$8,209

$9,924

$15,923

$8,228

$423,397

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 2020

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, 2015–16 to 2019–20

Expense type

2019–20

2018–19

2017–18

2016–17

2015–16

Operating

0.47%

0.50%

0.50%

0.52%

0.57%

Total

1.16%

1.24%

1.23%

1.24%

1.28%

Distribution of SMSFs by average expense ratio range, 2019–20

Ratio range

SMSFs with operating expenses in range

SMSFs with total expenses in range

<=0.25%

23.1%

12.4%

>0.25–0.5%

21.2%

13.3%

>0.5–0.75%

13.6%

10.5%

>0.75–1%

9.6%

8.8%

>1–1.5%

12.6%

14.0%

>1.5–2%

7.1%

9.0%

>2–3%

6.5%

9.6%

>3–5%

3.6%

7.9%

>5%

2.8%

14.5%

Total

100%

100%

For additional historical data for 2016 to 2019, see Data tables (XLXS 611KB)This link will download a file.

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 2020.

SMSF average expense ratios by fund size, 2019–20

Fund size

Operating expenses

Total expenses

$1–$50k

9.1%

17.6%

>$50k–$100k

3.5%

7.9%

>$100k–$200k

2.2%

6.8%

>$200k–$500k

1.2%

3.8%

>$500k–$1m

0.7%

1.7%

>$1m–$2m

0.5%

1.0%

>$2m

0.3%

0.7%

For additional historical data for 2016 to 2019, see Data tables (XLXS 611KB)This link will download a file.

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 2020 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 2021.

SMSF asset allocations, 30 June 2020

Asset type

All ($m)

% of total SMSF assets

% of SMSF population holding these assets

Mean ($)(h)

Median ($)(i)

Listed trusts

$44,286

6.0%

35.4%

$215,627

$95,335

Unlisted trusts

$88,600

11.9%

23.3%

$654,825

$268,416

Insurance policy

$113

<0.1%

0.1%

$317,010

$157,862

Other managed investments

$41,363

5.6%

12.5%

$570,200

$242,227

Cash and term deposits

$153,552

20.7%

96.6%

$276,468

$91,990

Debt securities

$11,162

1.5%

8.5%

$226,203

$94,449

Loans

$5,590

0.8%

3.0%

$324,649

$100,000

Listed shares

$195,637

26.4%

59.9%

$572,576

$263,947

Unlisted shares

$8,443

1.1%

6.8%

$213,987

$39,867

Limited recourse borrowing arrangements

$50,291

6.8%

11.3%

$770,575

$506,969

Non-residential real property

$70,768

9.5%

11.4%

$1,079,883

$642,727

Residential real property

$38,274

5.2%

9.9%

$674,330

$485,000

Collectables and personal use assets

$461

0.1%

0.6%

$143,354

$56,251

Other assets

$19,055

2.6%

83.0%

$39,820

$8,181

Crypto-currency

$218

<0.1%

0.6%

$67,726

$33,705

Overseas shares

$9,802

1.3%

7.2%

$233,692

$55,080

Overseas non-residential real property

$99

<0.1%

0.1%

$337,628

$147,715

Overseas residential real property

$349

<0.1%

0.2%

$333,437

$169,110

Overseas managed investments

$1,469

0.2%

0.8%

$332,102

$118,874

Other overseas assets

$2,328

0.3%

2.2%

$178,866

$61,608

Total Australian and overseas Assets

$741,859

100%

97.3%

$1,300,728

$733,926

Borrowings

$23,758

3.2%

12.1%

$339,566

$257,539

Other liabilities

$5,457

0.7%

59.8%

$15,872

$3,118

Net Australian and overseas assets

$712,644

96.1%

 n/a

$1,273,016

$674,744

(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 2020

LRBA investment by asset type

Total ($m)

% of total SMSF assets

% of SMSFs holding these assets

Mean ($)(j)

Median ($)(k)

Australian residential real property

$26,170

3.5%

8.0%

$568,558

$470,000

Australian non-residential real property

$21,982

3.0%

3.0%

$1,286,527

$745,000

Overseas real property

$47

<0.1%

<0.1%

$678,082

$275,915

Australian shares

$565

0.1%

0.3%

$394,306

$175,550

Overseas shares

$40

<0.1%

<0.1%

$1,078,704

$100,000

Other

$1,487

0.2%

0.4%

$707,308

$334,136

Total(l)

$50,291

6.8%

11.6%

$770,575

$506,969

(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, 2015–16 to 2019–20

LRBA assets

2019–20

2018–19

2017–18

2016–17

2015–16

Total LRBA assets ($m)

$50,291

$49,963

$45,899

$40,867

$26,468

Proportion of SMSFs reporting LRBAs (%)

11.3%

11.6%

10.8%

9.6%

7.4%

SMSF investment in real property and borrowings, 2015–16 to 2019–20

Investment type

2019–20 ($m)

2018–19 ($m)

2017–18 ($m)

2016–17 ($m)

2015–16 ($m)

Non-residential real property

$70,768

$69,435

$66,154

$65,534

$65,224

LRBA non-residential real property

$21,982

$22,110

$20,337

$18,431

$11,841

Residential real property

$38,274

$36,982

$35,797

$34,066

$28,294

LRBA residential real property

$26,170

$25,823

$23,650

$20,575

$12,862

Total SMSF investment in property

$157,194

$154,349

$145,938

$138,606

$118,221

Total borrowings

$23,758

$25,144

$24,529

$23,224

$20,762

Table 29: SMSF population holding assets

These tables show, for each financial year, the:

  • distribution of the SMSF population holding certain assets
  • distribution of total SMSF assets by asset type.
SMSF population holding assets, by asset type

Asset type

2019–20

2018–19

2017–18

2016–17

2015–16

Listed trusts

35.4%

31.9%

30.4%

28.7%

28.4%

Unlisted trusts

23.3%

23.3%

22.9%

22.3%

21.7%

Other managed investments

12.5%

11.4%

11.0%

10.5%

10.8%

Cash and term deposits

96.6%

96.7%

96.9%

97.0%

97.1%

Listed shares

59.9%

57.7%

58.3%

58.4%

59.4%

Non-residential real property

11.4%

11.7%

11.6%

11.9%

13.8%

Residential real property

9.9%

10.1%

10.0%

9.8%

9.1%

Limited recourse borrowing arrangements

11.3%

11.6%

10.8%

9.6%

7.4%

Distribution of SMSF asset holdings by asset type

Asset type

2019–20

2018–19

2017–18

2016–17

2015–16

Listed trusts

6.0%

5.5%

4.8%

4.2%

4.4%

Unlisted trusts

11.9%

12.0%

11.9%

11.1%

10.4%

Other managed investments

5.6%

5.1%

4.9%

4.5%

4.9%

Cash and term deposits

20.7%

20.7%

21.3%

24.0%

24.4%

Listed shares

26.4%

27.1%

27.7%

27.2%

28.0%

Non-residential real property

9.5%

9.5%

9.5%

9.9%

11.0%

Residential real property

5.2%

5.0%

5.2%

5.1%

4.8%

Limited recourse borrowing arrangements

6.8%

6.8%

6.6%

6.2%

4.5%

All other assets

6.0%

5.5%

4.8%

4.2%

4.4%

Total

100%

100%

100%

100%

100%

For additional tables on changes in distribution of SMSF asset holdings from 2016 to 2020, see Data tables (XLXS 611KB)This link will download a file.

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 2020 SMSF annual return.

SMSF asset allocation by fund phase, 30 June 2020

Asset type

Accumulation phase

Retirement phase

Listed trusts

4.9%

6.5%

Unlisted trusts

10.9%

12.4%

Insurance policy

<0.1%

<0.1%

Other managed investments

4.8%

5.9%

Cash and term deposits

19.8%

21.2%

Debt securities

0.8%

1.9%

Loans

0.7%

0.8%

Listed shares

19.1%

30.8%

Unlisted shares

1.5%

0.9%

Limited recourse borrowing arrangements

16.1%

1.5%

Non-residential real property

9.7%

9.4%

Residential real property

6.7%

4.3%

Collectables and personal use assets

0.1%

<0.1%

Other assets

2.8%

2.5%

Crypto-currency

0.1%

<0.1%

Overseas shares

1.4%

1.2%

Overseas non-residential real property

<0.1%

<0.1%

Overseas residential real property

0.1%

<0.1%

Overseas managed investments

0.2%

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 2020, 41.4% of SMSFs held 80% or more of their assets in one particular asset class, representing 28.3% 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, 2015–16 to 2019–20

Asset concentration

2019–20

2018–19

2017–18

2016–17

2015–16

100%

7.7%

8.6%

9.2%

10.4%

10.7%

>=90%

27.7%

29.0%

30.1%

30.3%

30.7%

>=80%

41.4%

42.5%

43.8%

43.8%

44.1%

>=70%

53.6%

54.8%

56.2%

56.2%

56.5%

>=60%

66.4%

67.5%

68.8%

68.9%

69.3%

>=50%

80.7%

81.7%

82.9%

83.1%

83.7%

Distribution of SMSF assets by asset concentration, 2015–16 to 2019–20

Asset concentration

2019–20

2018–19

2017–18

2016–17

2015–16

100%

3.6%

3.8%

4.1%

4.7%

4.7%

>=90%

18.0%

18.3%

19.0%

18.9%

19.3%

>=80%

28.3%

28.4%

29.3%

29.1%

29.6%

>=70%

37.5%

37.9%

38.8%

38.6%

39.1%

>=60%

46.7%

47.1%

48.1%

47.9%

48.5%

>=50%

56.0%

56.5%

57.4%

57.4%

58.0%

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 2020

Fund size

% of SMSFs with 100% concentration

>=90%

>=80%

>=70%

>=60%

>=50%

$1–$50k

40.1%

62.8%

73.3%

81.4%

89.4%

96.2%

>$50k–$100k

21.0%

49.4%

63.1%

73.5%

83.0%

93.5%

>$100k–$200k

16.9%

44.1%

58.8%

70.5%

81.6%

92.6%

>$200k–$500k

9.7%

36.7%

53.1%

65.9%

77.6%

89.4%

>$500k–$1m

5.7%

27.5%

43.0%

56.6%

70.2%

84.8%

>$1m–$2m

4.3%

20.0%

32.3%

45.0%

59.6%

77.4%

>$2m–$5m

2.5%

14.9%

25.9%

38.2%

53.1%

71.5%

>$5m–$10m

1.6%

12.3%

23.1%

35.1%

48.9%

67.2%

>$10m

1.7%

13.7%

23.5%

35.4%

49.4%

65.7%

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 2020

Asset type

% of SMSFs with 100% of asset class

>=90%

>=80%

>=70%

>=60%

>=50%

Listed trusts

<0.1%

0.4%

0.8%

1.2%

1.8%

2.7%

Unlisted trusts

0.1%

1.8%

3.1%

4.2%

5.6%

7.2%

Insurance policy

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

<0.1%

Other managed investments

0.1%

1.4%

2.1%

2.7%

3.4%

4.1%

Cash and term deposits

6.2%

9.3%

10.9%

12.8%

15.2%

18.2%

Debt securities

<0.1%

<0.1%

0.1%

0.1%

0.1%

0.2%

Loans

0.0%

0.3%

0.4%

0.5%

0.6%

0.7%

Listed shares

0.2%

4.9%

9.1%

13.2%

17.5%

22.2%

Unlisted shares

<0.1%

0.2%

0.4%

0.5%

0.6%

0.8%

Limited recourse borrowing arrangements

0.2%

4.9%

7.3%

8.7%

9.6%

10.2%

Non-residential real property

0.2%

1.9%

3.2%

4.4%

5.5%

6.7%

Residential real property

0.1%

1.6%

2.6%

3.5%

4.3%

5.2%

Collectables and personal use assets

<0.1%

<0.1%

0.1%

0.1%

0.1%

0.1%

Other assets

0.3%

0.9%

1.1%

1.4%

1.6%

1.9%

Crypto-currency

<0.1%

<0.1%

0.1%

0.2%

0.2%

0.3%

Overseas shares

<0.1%

<0.1%

0.0%

0.0%

0.0%

0.0%

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

7.7%

27.7%

41.3%

53.6%

66.4%

80.6%

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 2020

Asset concentration

% of SMSFs in accumulation phase

% of SMSFs in retirement phase

100%

9.6%

5.4%

>=90%

34.0%

20.1%

>=80%

48.9%

32.1%

>=70%

61.1%

44.4%

>=60%

72.8%

58.5%

>=50%

85.0%

75.3%

QC67922