Document ID: chunk:federal_register_of_legislation:F2017L00725:body:0:p10
Version: federal_register_of_legislation:F2017L00725
Segment Type: other
Provision Reference: 
Character Range: 27448–30514

is only to be completed in respect of a PST. Report units issued (PST only) in item 2.5.

                                  Item 2.6 is a derived item. Report other members' benefits flows out of the RSE in item 2.6 as total members' benefits flows out of the RSE reported in item 2.7 minus the sum of benefit payments reported in item 2.1, rollovers out of the RSE reported in item 2.2, successor fund transfers out of the RSE reported in item 2.3, repatriation to employer sponsor reported in item 2.4 and units issued (PST only) reported in item 2.5.

                                  Report details of other members' benefits flows out of the RSE on separate lines in item 2.6.1. Report a description of the other members' benefits flows out of the RSE in column 1 and the value in column 2.

                                  Report total members' benefits flows out of the RSE in item 2.7.

Benefit payments                  Represents lump sum benefit payments and pension benefits paid directly to members. Includes: insurance claim benefits or proceeds first credited to members' accounts and subsequently disbursed along with members' benefits to the member or beneficiary. Excludes: rollovers and successor fund transfers. Reference: SIS Regulations, Divisions 6.2 and 6.3; Superannuation Industry (Unclaimed Money and Lost Members) Act 1999, Part 4A.

Lump sum benefit payments         Represents benefit payments that have been paid as a lump sum under a condition of release, from pooled superannuation trust arrangements or classed as another benefit payment type. Includes: insurance claim benefits or proceeds first credited to members' accounts and subsequently disbursed along with members' benefits to the member or beneficiary as lump sum benefit payments. Reference: SIS Regulations, Schedule 1.

Pension benefit payments          Represents benefit payments that have been paid as a pension under a condition of release. Includes: account based pension, transition to retirement pension, allocated pensions, annuity payments and other pension income streams. Excludes: transfers, including rollovers and successor fund transfers, within the superannuation system. Reference: SIS Regulations, Divisions 6.2 and 6.3.

PAYG withholding tax              Represents the portion of benefit payments that represents tax paid or payable to the Australian Taxation Office.

Repatriation to employer sponsor  Represents where member benefits are paid back to employer sponsors that were originally received from employer sponsors either in the form of contributions or amounts associated with the redemption of fund assets. Excludes: amounts paid back to employer sponsors that relate to services provided, such as administrator fees. Reference: SIS Act, s. 117.

Payments to unit holders          Represents payments from pooled superannuation trusts (PSTs) to unit holders of those PSTs. Excludes: rollovers paid out on behalf of unit holders. Reference: SIS Act, s. 10.

Item 3  Item 3 is a derived item. Report net members' benefits flows in item