Our industry – growing, contracting, and our prices are great value
The annual ATO overview of the SMSF industry is out, and here is a brief snapshot.
Growth
- Total number of SMSFs is over 603,000 – up 4% year on year.
- Over 2000 new SMSFs are being added each month.
- They hold $868.7 Billion in funds – 26% of the entire industry.
- The average asset size is $1.5M, the median asset size is $855,000.
Stability
- 99% of SMSFs are administered by 13,800 tax agents with an average of 30 SMSFs each.
Contraction
- 757 auditors left the industry last year, as the reality of auditor independence and the growing technical compliance burden hit hard.
Value
- The average audit fee was $640; the median audit fee, $550.
Our prices represent excellent value.
Click for a full breakdown of the SMSF industry.
Property and SMSFs – what strategies are we seeing?
I run an online educational training session on this topic on 5 April 2023.
It covers the innovative and compliant new SMSF strategies emerging in the start-up world, with particular focus on farming activities.
And of course, I have also covered off on exciting new announcements such as the proposed $3M cap.
Attendance attracts 1 CPD point.