Look at the pros and cons of SMSFs
There are important pros and cons to consider with self-managed super funds (SMSFs), however, including issues such as the level of control you can have, your responsibilities and accountability, legal and compliance requirements, fees and costs, and, of course, investment performance.
Do your research
Before you make the big decision to start an SMSF, check the information on SMSFs that has been made available by ASIC and the ATO.
Further information on SMSFs
ASIC’s MoneySmart website contains useful information on the practical realities of running an SMSF. Take a look at the following sections from their website:
Also see the comprehensive information on SMSFs on the ATO website: