I am looking at setting up an SMSF. I have heard mixed reports about their benefits/downfalls, such as the huge fines that can be placed on people who do not follow the appropriate regulations.
For those who run their own SMSFs, where would be a good starting place for me to read/access all the applicable regulations to help me decide on whether I want to go ahead with starting a SMSF?
I am generally not the kind of person who goes into such things without a s**tload of reading first, so would like to spend some time understanding what the paperwork commitments of doing this would be.
