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Estimates undertaken by SMSF software firm Class suggest that around a third of all SMSF member balances are either over $1 million – the threshold set for quarterly TBAR reporting – or close to $1 million.
Estimates performed by Class, based on information the firm has on hand, indicate that approximately 203,000 or around 33 per cent of all SMSFs have at least one member balance over $800,000.
Read the full article on SMSF Adviser.