Generation Y busts SMSF age mythBY JAMES FERNYHOUGH | TUESDAY, 23 JUL 2013 9:50AMIncreasing numbers of people under 30 are setting up - or plan to set up - self-managed superannuation funds (SMSFs), according to a new study by Macquarie Bank and the SMSF Professionals' Association of Australia (SPAA). |
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Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
The comment "Meanwhile, of those who have set up an SMSF within the last three years, 46% are under 30." does not align to the statics released by the ATO and they are so far off that you have to question the validity of the survey. To give an indication of how far off they are, from the ATO, by quarter pecentage of SMSFs establishments where member age is below 35:
March 2013 17.6%
Dec 2012 12.3%
Sep 2012 12.8%
June 2012 9.6%
March 2012 13.5%
Dec 2011 11.6%
Sep 2011 12.6%
June 2011 11.4%