Document ID: chunk:federal_register_of_legislation:F2023L00597:front:0:p7
Version: federal_register_of_legislation:F2023L00597
Segment Type: other
Provision Reference: 
Character Range: 15812–18806

SRF 605.0 RSE Structure (SRF 605.0);
       * investment options which solely underlie defined benefits;
       * investment options which are reported on SRF 605.0 under investment option category Annuity;
       * products which are reported on SRF 605.0 under the Superannuation Product Category Type of 'Insurance Only' or 'Whole of Life or Endowment'; and
       * investment options which solely underlie products with the Superannuation Product Category Type of 'Insurance Only' or 'Whole of Life or Endowment'.

  The reporting period is each year ending 30 June for the following:
       * investment options which are reported on SRF 605.0 with the Investment Option Type of 'Listed Investment Company',
       * investment options which are reported on SRF 605.0 with the Investment Option Type of 'Exchange Traded Product', and
       * investment options which are reported on SRF 605.0 with the Investment Option Management Type of 'externally managed - non-connected entity' and Investment Option Strategy Type of ' Non-connected entity'

Report fees, costs and taxes for the superannuation product, investment menu, investment option at which they arise or are incurred.

RSE licensees need to determine the appropriate reporting level for each of the applicable fees, costs and taxes depending on the structure of the RSE, defined benefit RSE and ERF.

Fees, costs and taxes may be incurred at each RSE structure level, but may vary depending on the combination of RSE structure levels a member is in.

For example, it is expected that administration fees will generally be reported at a superannuation product level, platform fees may sometimes be reported at the investment menu level, while investment management fees will generally be reported at the investment option level. The investment management fee for an investment option may vary depending on which superannuation product the member is invested through.

Where the fee, cost or tax is applicable to all members in the RSE structure level, the RSE licensee must report data for that RSE structure level and report 'ALL' for the remaining RSE structure levels.

Where the fee, cost or tax varies depending on the combination of RSE structure levels, the RSE licensee must report data for each relevant combination of superannuation product, investment menu and investment option.

For example, an administration fee that applies across all investment menus and investment options within a superannuation product would be identified with the relevant superannuation product identifier to which it applies. The investment menu identifier and investment option identifier would be reported as 'ALL'.

SRF 705.0 requires the RSE licensee to report investment returns for each investment option.

Report the Gross investment return for all investment options on the annual return.

Report the indirect cost (non-RSE licensee) on the annual return for all investment options.

The Gross Investment Return less