SMSF trustees looking to make higher non-concessional contributions before the rule changes on July 1 significantly increased contributions.
In the June 2017 quarter, the average contribution tripled from $9,138 to $32,055, with 63% of contributions being made during the last month of the quarter. The June quarter also saw a spike in benefit payments which almost doubled from $27,900 to $50,313.
The quarterly SuperConcepts SMSF Investment Patterns Survey covers approximately 2,640 funds, a sample of SMSFs administered by Multiport (part of the SuperConcepts group) and the investments held at 30 June 2017. The assets of the funds surveyed represent approximately $3.1 billion.
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