repo27,You are probably aware that a superannuation forum exists...

repo27,

You are probably aware that a superannuation forum exists here on H.C.
One can learn a lot from that forum and some knowledgeable posters can and do answer questions.

You can also Google - Self Managed Superannuation funds - for a plethora of info.

The ATO seems to advise that a SMSF should have in the vicinity of $200,000 and a fund can consist of 1-3 members, for example, let's say you and your wife.

In my case, I paid my accountant to form my SMSF.
This is the most expensive part of a SMSF and I have seen figures vary significantly upto a one off fee of $1,200 and as low as half that.

If you use the services of an accountant for your tax returns anyway, ask him how much he will charge you,
firstly to set up a SMSF and to lodge your funds return on a yearly basis.
Apart from the above, the only other fee I am aware of, is an audit fee, as your fund must be audited on a yearly basis. Again, this fee can vary from about $350 - $600 each year.

Having set up your SMSF and if you are going to use an accountants services, the rest is rather simple.
You need to produce the Deed to your bank to open an account for your fund (I use a Credit Union at a substantial saving on banking fees) and once you are all set up to go, all you need to do is keep on top of the administration which is simple:-

Each month you receive your bank statement you just pin your relevant paperwork for each credit or debit on your statement (buy and sell of shares as an example) and at the end of the financial year you have 12 bank statements
with the relative paperwork for each and every transaction you have done and you hand it to your accountant and he gets your paperwork audited and processes your return.

Believe me it is not hard to do!!
You are then in full control. Hope this has helped you somewhat.

Cheers.