Written by Fabian Bussoletti, Technical Manager, SMSF Association
Despite the lingering possibility of the proposed new Division 296 tax being introduced, recently released ATO statistics point toward a resilient and mature SMSF sector – which continues to grow and evolve.
According to the ATO’s SMSF statistical overview 2022-23, at 30 June 2024 there were over 625,000 SMSFs, a 4.5% increase from 30 June 2023 – with 32,700 SMSFs entering the sector over the year, a 21% increase from 2022-23.
In fact, in the five years to 30 June 2024:
- the number of SMSFs increased by 11%, an average of 2.2% per year, and
- on average 27,000 funds entered the sector annually, and over 2,000 per month.
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