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The wealth of Australia’s top self-managed super funds (SMSFs) continues to grow. There were 32 funds worth more than $100 million in 2020, up from 27 in 2019, new documents reveal.
Information about the top 100 largest SMSFs in the 2019-20 financial years has been released by the Australian Taxation Office (ATO) in response to a Crikey freedom of information request. The data reveals how Australia’s richest people are taking advantage of the favourable superannuation tax concessions.
Australia’s largest SMSF had $401 million in the 2020 financial year compared with $544 million the year before — each fund is identified only by its position in the top 100, meaning that the top fund may not be the same one as the year before.
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