- 2 good rulers, 6" and 24" can double as a straight edge
small hammer for fretting, I have a small ball peen hammer
block plane, I use it all the time
larger plane, I've got one but don't use it all that much
hand drill and drill bits.
screw driver, small phillips head for tuner screws.
allen keys for neck hardware and truss rod
saw suitable for fret slots, or get fret board pre-slotted
chisels, narrow, medium and large
razor saw, not necessary but really handy.
files, rasps, sanding blocks
clamps, you will never have too many, various sizes
pliers
end cutters
And if you want a vague idea of what the cost of setting up shop is, then Sylvan Wells has put together a list on his site. This is in US currency, and some prices are reasonable, while others are totally unrealistic for Australia. You can see his list here. Don't let this scare you off of this. You can get by with just the basics, building with nothing more than hand tools. I watched some fellows in Mexico build guitars in a lean too with nothing more than hand tools, crude wooden benches and a dirt floor.
I recommend you have a look at his "Articles" section. He has a lot of great info on it.