Document ID: chunk:federal_register_of_legislation:F2023L00581:front:0:p7
Version: federal_register_of_legislation:F2023L00581
Segment Type: other
Provision Reference: 
Character Range: 15921–18595

member or would otherwise affect member balances. It includes all standard and customised fee structures, such as fees and costs that would appear in the Product Disclosure Statement (PDS) for the superannuation product, and fees and costs relating to accessible products available on platform pursuant to the PDS for those accessible products.

Unless otherwise instructed, report all items on SRF 706.0 in accordance with the RG 97 version indicated in SRF 605.0.

All fees and costs reported on SRF 706.0 must be reported 'gross of tax obligations' where 'gross of tax obligations' refers to gross of income tax, GST and stamp duty.

This means the fees and costs must be reported prior to taking into account any benefit of a tax deduction relating to a fee that is passed on to a member either as a reduction in tax on contributions or through the deduction of a fee that is lower than what is reported to take account of the tax deduction.

Amounts in SRF 706.0 are to be reported as whole dollars, dollars and cents on a per member basis, or percentages. Percentages should be reported as an unconverted number to four decimal places. For example, 12.3456 per cent is to be reported as 0.123456.

Items on SRF 706.0 must be reported as at the reporting day.

Definitions

Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).

Specific instructions

Table 1: Fees and costs disclosed
Report Table 1 as at the end of the reporting day.  Where fees and costs vary according to the combination of fees and costs arrangement, superannuation product, investment menu or investment option, indicate this by use of the appropriate identifier in relevant columns, otherwise make use of 'ALL' as described above.

All fees and costs data under SRS 706.0 should be reported as the annual fee disclosed or the fee per activity disclosed as at the reporting date. Where a fee or cost is calculated or charged more frequently than annually, the RSE licensee should report the calculation frequency in column 10, and the charge frequency in column 11. The RSE licensee should report the percentage or dollar charge in column 17 or 20 as the fee or cost per annum regardless of the calculation or charge frequency. Where a fee or cost is calculated or charged per activity, the RSE licensee should report the percentage or dollar charge in column 17 or 20 as the fee or cost per activity

Column  Field name                                  Unique identifier  Applicable to  Valid values                                                           Description