Agree with @brednog here, for many SMSF members/trustee's it is...

Agree with @brednog here, for many SMSF members/trustee's it is unlikely they will draw on their funds and secondly they will most likely not quaify for eligibility of release. I

In terms of the real stats relating to Class's clients SMSF's assets - here is an extract directly from Class's last Benchmark Report back in June 2019 which provide much finer grain analysis than the ATO and tells a different picture to what you hypothesizing regarding property weighting. As to limited recourse borrowing arrangements and leveraging into property - despite the industry hype and media attention this was very limited both in numbers and total assets and has been in significant decline for over 18 months as the financial institutions have almost all walked away from this sector due the legislative challenges, complexity, uncertainties, and business case profitability surrounding it.

@littlecorn To state "most SMSF's" is factually incorrect.

I agree that going forward the old adage of "cash is king" and the fundamental principal of "real and tangible cash flow" will be paramount. Theoretical or "Blue Sky" businesses will struggle.

Again @littlecorn contrary to your hypothesis - Class is NOT one of those businesses, it is in the "needs" not the "wants" business and for an accountant and numerous planners it is looked upon as an "essential service". Funds still have statutory reporting requirements and lodgement deadlines and more than ever the ability to be able to have your staff be able to facilitate this necessary work predominantly automically as well as remotely via the cloud is absolutely critical.

@brednog also makes another valid point that historically SMSF numbers have often increased during volatile or distressed markets as clients have a heightened awareness and concern regarding their financial affairs and hence the "control focus". With the recent writebacks of some of the industry funds asset pools due to their asset concentration levels, the continued fall-out from the Royal Commission, and the loosening of the Accountants Advice restrictions - we could actually see a possibly an uptick in establishments.