944 $10 million plus APRA-regulated super balances
There are 944 people with account balances in Australian Prudential Regulation Authority (APRA)-regulated funds with more than $10 million in their account balances.
The Commissioner for Taxation, Chris Jordan revealed this figure during the SMSF Association annual conference in Adelaide while seeking to put into context the number of self-managed superannuation funds (SMSFs) carrying high account balances.
In doing so, Jordan made clear that each of the funds with high account balances had been closely scrutinised by the Australian Taxation Office (ATO) and that it followed that nothing had been detected that would warrant further ATO attention.
Later, under questioning from SMSF Association chief executive, Andrea Slattery, Jordan revealed that SMSFs were not the sole repositories of high account balances, with 944 APRA fund members holding account balances of more than $10 million.
He said that, in similar terms to the high account balance SMSFs, those in the APRA-regulated funds had occurred over a long period and had been consistent with the contribution rules that existed at the time.
Recommended for you
The super fund’s CEO has confirmed he will finish his role in 2026.
New data shows millions of Australians have little idea how their super funds have performed over the past year.
Small-business advocates have warned the government’s Payday Super timeline risks chaos without more time, cost support, and fair penalties.
Insignia Financial’s Master Trust portfolio has expanded despite net outflows, as positive markets and new product initiatives drive growth.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
