New low for SMSF establishments in September 2018 quarter

The number of new SMSFs being started has reached a new low, with only 5,580 funds set up in the September 2018 quarter according to the latest ATO statistics.

The total number of SMSFs continues to grow – there were 596,059 as at the end of September 2018 – but growth is slowing. Each of the last four quarters has made a new low for SMSF establishments.

For the September 2018 quarter the ATO statistics have 5,580 SMSFs established, with 148 winding-up, resulting in 5,432 net establishments. The September 2018 quarter is the lowest for SMSF establishments since at least the June 2008 quarter.

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Data source: ATO Self-managed super fund quarterly statistical report – September 2018

 

Though the number of wind-ups is likely to be considerably revised upwards, due to the lag effect in reporting SMSFs closing, leaving a lower net establishments figure. The June 2018 figures have been revised upwards, with wind-ups increasing from 206 to 4,425, while establishments were revised from 5,531 to 5,902. If there are no further revisions, the June 2018 quarter wind-ups are considerably lower than has been typical for that quarter. Though there was a particularly large number of wind-ups in the June 2017 and September 2017 quarters.

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