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Sovereign Wealth Funds Briefing - Categorized | Financials

SMSF contributions down 25pct, AMP survey finds

Posted on 20 August 2013

Self-managed superannuation fund (SMSF) contributions fell by $12,300 the 2012-13 financial year, according to the Multiport SMSF Investment Patterns Survey June 2013. Multiport, an SMSF administrator and subsidiary of AMP, surveyed 1,950 of its client SMSFs. It found that the average contribution in FY 2013 was $35,200, compared with $47,500 in FY 2012.
“This significant decline is most likely the result of the reduction in the concessional contribution cap, with a cap of $25,000 now applying to members of all ages during the 2013 financial year,” the report stated………………………………………..Full Article: Source


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