It is always interesting to see far SMSF’s have come over the years. To help us, the ATO has given us insightful statistics to shed some light on SMSF’s in our current day – which has been shown below.
Interesting topics worth noting are that the Majority of SMSFs (57%) have a Corporate Trustee. Furthermore, 81% of all new SMSFs use a Corporate Trustee. Also 82% of SMSFs have assets greater than $200k. Please note, this is ASIC’s recommended minimum balance and Redwood provides further guidance to our clients in our SOA on establishment – to ensure that they are educated on the risks and benefits of an SMSF.
Disclaimer – The content has been prepared by Redwood Wealth Pty Ltd & Redwood Advisory Pty Ltd without taking account of the objectives, financial situation or needs of a particular individual and does not constitute financial product advice. This article should not be considered personal financial advice as it is intended to provide factual information only.
Ivan Filipovic is an authorised representative of First Mutual (AFSL 423710). Redwood Wealth is a Corporate Authorised Representative of First Mutual (1244359)