Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:26:p12
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 26 (pt 12/13)
Character Range: 598578–601148

However, do not include a Part 6A product in the identification under subregulation (2) in relation to the year if the Part 6A product's initial quarter starts on a day during the financial year that is not 1 July.
 (3) Next, construct a consecutive sequence of the representative administration fees and expenses for each of the Part 6A products identified under subregulation (2) in relation to the year, where the sequence:
 (a) starts with the lowest of those RAFEs; and
 (b) proceeds in ascending order of the amount of each of those RAFEs.
 (4) Next, work out the result of the following formula:
where:
M is the number of Part 6A products identified under subregulation (2).
  (5) If P is a whole number, the benchmark RAFE for the Part 6A product in relation to the year is the RAFE that occupies the place in the sequence mentioned in subregulation (3) corresponding to P.
Example: If P=5, then the benchmark RAFE is the fifth RAFE in that sequence.
 (6) If P is not a whole number, determine the benchmark RAFE mentioned in subregulation (1) by using the following formula:
where:
PR is P rounded down to the nearest whole number.
RAFEPR is the RAFE that occupies the place in the sequence mentioned in subregulation (3) corresponding to PR.
RAFEPR+1 is the RAFE that occupies the place in the sequence mentioned in subregulation (3) corresponding to PR + 1.

9AB.17  Meaning of covered asset class, assumed index, assumed annual fee and assumed rate of tax
 (1) Subregulations (2) to (5) define the following:
 (a) a covered asset class for a quarter starting on or after 1 July 2014;
 (b) the assumed index for a covered asset class for such a quarter;
 (c) the assumed annual fee for a covered asset class for such a quarter;
 (d) the assumed rate of tax for a covered asset class for such a quarter.
 (2) A covered asset class for a quarter mentioned in paragraph (1)(a) is a class of assets identified in an item of the table in subregulation (7) by its description.
 (3) For the purposes of this regulation, in determining a covered asset class for a quarter, treat the term Alternatives as having the same meaning as that term has in the asset allocation standard that applies in relation to the quarter.
 (4) The assumed index for a quarter mentioned in paragraph (1)(a) for a covered asset class for the quarter is the assumed index identified in the item of the table in subregulation (7) that identifies the covered asset class.
 (5) The assumed annual fee for a quarter mentioned in paragraph (1)(a) for a covered asset class for the quarter is the