11/10/2026
More Australians Are Choosing SMSFs. But Are They Ready for the Role of Trustee? 🔎
The hashtag sector continues to grow, with the Australian Taxation Office (ATO) reporting that there are now over 660,000 self-managed super funds holding more than $1 trillion in assets. New establishments also remain strong, with more than 43,000 SMSFs established in 2025-26 as of April 2026.
According to key messages from the ATO's Superannuation Industry Stewardship Group, increased awareness of SMSFs and a desire for greater control and flexibility over investments are among the factors driving this growth.
However, establishing an SMSF comes with significant responsibilities. The ATO highlighted several key risks at the point of establishment, including:
• Identity theft and fraudulent rollovers from APRA-regulated funds
• Illegal early access to superannuation
• Trustee ineligibility
• A lack of understanding of trustee obligations
The discussion also reinforced that trustee capability varies across the sector. While many trustees are well equipped to manage their responsibilities, others may require additional support and education to understand their obligations.
If you're considering establishing an SMSF, it's important to understand both the opportunities and the responsibilities involved. At O’Brien we provide a range of education and support resources to help trustees establish, operate and eventually exit an SMSF.
Source: Australian Taxation Office (ATO) – Superannuation Industry Stewardship Group Key Messages.
Important: This content is general in nature and does not take into account your personal objectives, financial situation or needs. Professional advice should be sought before acting on any information contained in this post.
