Susan, a friend of Karunesh and Asha has recommended that they set up a Self-Managed Superannuation Fund (SMSF), as it will provide them with better returns. Susan has suggested that the SMSF purchase a property and that Karunesh and Asha can live in that property and pay the rent directly to the SMSF by making tax-deductible salary sacrifice contributions.

2. List the amount and type of fees that Karunesh and Asha pay, in the first year, to set up and maintain their SMSF. What is the amount of GST that will be applicable on these fees? How does this compare with the fees that they are paying in their current superannuation funds? Cleary show all your workings.