In a huge revision by the ATO, it turns out that most SMSFs are actually being established with corporate trustees, rather than individual trustees as was thought. Also more than half of all SMSFs have a corporate trustee.
According to recently released ATO statistics, 80.84% of SMSF registered in 2016/17 were with a corporate trustee. This is far higher than the ATO had previously been reporting. The ATO’s 2014/15 SMSF statistical overview had only 7.24% of SMSFs registered in 2015/16 as having a corporate trustee (2,433 funds). The revised figures now have this as 80.82% with corporate trustees (27,274 funds). The total number of SMSFs registered has not changed markedly.