Hi guys, well I just went through the laborious task of setting up my SMSF and wanted to share with you the process. All in all it cost me $137.50 for the docs additionally I paid $476 for a SMSF company which became the trustee. So all in all it can be done for roughly $600 and about 8-15 hrs of your time dependant on your computer/internet literacy My Partner and I are directors of the SMSF Company and trustees of the SMSF. Firstly you need to setup the corporate trustee. I used http://www.acnregister.com.au because I had used them previously but again there are others. Then you need to get your docs, I used http://www.cleardocs.com/products-superannuation-trust.html but there are others around if you do a search, to set up the SMSF. This package comes with a step by step guide to completing the process it is really user friendly and has links to ATO website for applying for an ABN and all the forms for transferring your super etc Once the ABN arrives in the mail you can then setup a SMSF account, I used https://www.ubank.com.au/ub/web/smsf/smsf-usaver which again I was a customer of already but most banks have these facilities, you will need you company ABN and ACN to set this up, was a little tricky but I finally worked it out There's a fair bit of mucking about, getting copies of ID verified at the post office and so on but all said and done its worth saving the money It took 3 weeks all said and done and we have just sent off the request for transfer, so we wait with baited breath to get our hands on our money PS: I have no affiliations to the above companies I have listed however I thought it would be easier if you had a real world reference to look up? First Year Running, Audit and Return Costings BGL Software $431 renewal Audit of fund plus check of BGL software setup and entries $700 Company ASIC admin Fee $230 ATO Levy $200 In total operating costs of $1561, which I believe is the cheapest option for me to do this independently. If you were purely in cash that would translate into a balance exceeding $36000 simply to keep fund ahead with a cash rate of 5% and tax of 15%, but not taking inflation into account. If you take inflation @ 3% into account you would require in excess of $120000 in the high interest account. These figures are approximate but important to consider when starting a SMSF, of course PM's, shares, other investments and property may make up your portfolio. My opinion is you should have a starting amount not less than $50k if you were to do it the way I have suggested. I do want to stress this is not financial advice as I am not qualified to advise. DYODD and remember with the cash rate falling and inflation remaining high your battle is even greater.