Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p26
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 26/43)
Character Range: 1330517–1333321

Contributions Tax (Assessment and Collection) Act 1997 or between the amount deducted and the amount determined under subsection 15(2) of that Act—a statement explaining the difference;
 (p) the net amount of Government co‑contribution received during the reporting period.
 (2) A nil amount need not be disclosed.
 (3) If, at the end of a reporting period, an RSA has not been in existence for 5 years, the references in paragraph (1)(h) to 5 years are taken to be references to the whole period of existence of the RSA.

7.9.27  Modification of Act: periodic statements for RSA holders
  For paragraph 1020G(1)(c) of the Act, Part 7.9 of the Act is modified in its application in relation to an RSA to which this Subdivision applies as set out in Part 8 of Schedule 10A.

7.9.28  Information for RSA: amount reaches $10 000
  For paragraph 1017D(5)(g) of the Act, if the amount of an RSA at the end of a reporting period is at least $10 000, the periodic statement for that reporting period must include the following, in addition to the details mentioned in regulations 7.9.19 and 7.9.22:
 (a) a statement of that fact;
 (b) a statement that the information contained in the periodic statement is important and that the notice must be read carefully;
 (c) a statement that outlines the effect of the lower‑risk/ lower‑return nature of the RSA on possible benefits in the long term;
 (d) a suggestion that the RSA holder may wish to consider:
 (i) other superannuation arrangements that may provide a greater return over the long term; and
 (ii) seeking advice on alternative investment strategies that may be more suitable.

Subdivision 5.4—Periodic statements for retail clients for financial products that have an investment component: additional information for superannuation entities and RSA providers

7.9.29  Application of Subdivision 5.4
  This Subdivision applies in relation to a superannuation entity and an RSA provider.

7.9.30  Additional information for change to choices
 (1) For paragraph 1017D(5)(g) of the Act, a periodic statement for a holder of a financial product must include, if relevant, either of the following details (in addition to the details mentioned in regulation 7.9.20 or 7.9.26, as appropriate):
 (a) details of:
 (i) other investment strategies available to the holder (if applicable); and
 (ii) other contribution levels available to the holder; and
 (iii) other insurance coverage available to the holder in relation to the financial product;
 (b) a statement:
 (i) that the details in paragraph (a) are available on request from the responsible person; and
 (ii) about how to ask for the details.
 (2) The details or statement must relate to:
 (a) an interest in the same sub‑plan; or
 (b) if there is no sub‑plan—an interest in the same superannuation entity