Small SMSFs paying 7% in operating costs annually
Self managed super funds (SMSFs) with less than $50,000 in assets pay on average 7 per cent in operating expenses per year, according to Australian Taxation Office data.
That number was closer to 6 per cent in the financial year to June 2008, but hovered at 7 per cent for 2009 and 2010 financial years.
For SMSFs between $50,000 and $100,000 that figure dropped from 5 per cent in 2008 to hover around 3.6 per cent for the following two years.
Funds between $100,000 and $200,000 cost less than 2.5 per cent to run, on average - with that figure decreasing over the past three years of data.
However, with average assets per SMSF recovering to over $888,000 at 30 June 2010 (the most up-to-date data available) and the median fund holding $512,000, the estimated average operating expense ratio of SMSFs has fallen from 0.69 per cent in 2008 to 0.54 per cent. In 2010, almost 38 per cent of funds had an estimated operating expense ratio of 0.25 per cent or less.
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