Just started mine. Cost to set it up using an accountant and tax lawyer $600. Annual running costs to be $1,000 for the accountant/auditor. My investment strategy is simple. BankWest Gold term deposits for 5 years at 7.2%, interest paid annualy. I do not intend as yet to buy shares, and probably wont. It all seemed very daunting at first, but after reading the publications from the ATO its not so bad. Just dont get involved in anything "iffy". One of the do's and don'ts from the ATO I like is "dont buy wine as an investment and then drink it". Youve got to keep accurate records and make the annual report to the ATO promptly. Otherwise its very interesting.
