Hi yort,Without knowing your age or if you have a partner etc,...

Hi yort,

Without knowing your age or if you have a partner etc, which can make a difference now and in the future to setting up a SMSF.

The first fees are setting up fees and deed. Many ways of saving money in set up fees as can be found on this site.

Obviously if you are relatively young and you have already accumulated a sizeable sum in super and perhaps also, you might have personal shares or cash to bolster your intended SMSF and provided that your return on your investments can adequately MORE than cover your costs which have been previously mentioned in this thread (such as SMSF tax return preparation plus audit fee) and IF (my opinion only) you feel you will be able to contribute more dollars in the future (apart from your normal contributions) and IF you feel capable of doing the investing yourself (within the guidelines of the deed) then the rule of thumb sum of $200K is not paramount.

Below is a link which can be of great assistance to you in helping you form an opinion.

https://www.moneysmart.gov.au/superannuation-and-retirement/self-managed-super

GOOD LUCK.