You may take advantage of tax concessions for your SMSF, which means your income from your fund will be taxed at a concessional rate of 15%. For your SMSF, you need to comply with the existing regulations administered by the Australian Taxation Office (ATO). On top of taxation, you also need to check that your fund is being run in accordance with superannuation laws and implement systems to make sure that you are in compliance.
Remember, the primary purpose of SMSF is to save for retirement, and you need to comply with the law to ensure efficient setup and ongoing management. There are significant tax benefits for SMSFs, but trustees need to follow the tax and super laws to receive these concessions.