About 20 years ago it was put into law that every employer had to set aside 9% of their workers salaries into their nominated superannuation fund. That money could not be touched unless you meet one of several very specific circumstances (such as retirement, have six months to live, etc, although I hear there's ways to draw on that money through Centrelink if you're in a lot of financial trouble).

You can manage your superannuation money yourself, but that doesn't mean you're allowed to spend it. You can invest it how you see fit, but you're not allowed to, say, withdraw $20,000 and go to Vegas. Self-managed Superannuation basically means that you're the trustee to your client, the client being yourself, and as trustee you're subject to all the harshest penalties if you cock it up.

So the friend of the poster on the page I linked to above gets himself a self-managed super fund, completely ignores all the scary paperwork you have to sign to get one, and proceeds to spend $15,000 of his $40,000 retirement savings on a rental bond and a car.

He's going to be so fucked when the Australian Tax Office is notified as similar actions to his in the past have lead to gaol time.