Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p40
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 40/43)
Character Range: 1365488–1368363

cases
 (1) For paragraph 1017D(5)(g) of the Act, if a reporting period is the exit reporting period, the issuer of a superannuation product (other than the trustee of a self managed superannuation fund or pooled superannuation trust) must include in the periodic report given to a person who ceases, otherwise than by death to hold the product, the information mentioned in regulation 7.9.20.
 (2) A nil amount need not be disclosed.

7.9.56  Exceptions to exit reporting period provisions: superannuation products and RSAs
  This Subdivision does not apply in relation to a superannuation product holder who has been provided with the relevant information in the circumstances described in Part 13 of Schedule 10A.

7.9.57  Exception—members subject to compulsory protection of small amounts
  For paragraph 1017D(5)(g) of the Act, if a protected holder of a superannuation product or RSA ceases to hold the product, a periodic statement must include the following information for the exit reporting period:
 (a) the contact details of the product provider;
 (b) the amount of the product holder's withdrawal benefit;
 (c) the amount of any deduction, from the product holder's benefits, in connection with payment of a superannuation contributions surcharge, or an advance instalment of surcharge, during the exit reporting period;
 (d) if there is a difference between the amount deducted and the amount assessed under subsection 15(1) of the Superannuation 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;
 (e) for a superannuation product provided by an unfunded defined benefits fund—details of the surcharge debt account kept by the issuer, under subsection 16(2) of the Superannuation Contributions Tax (Assessment and Collection) Act 1997, for the holder including:
 (i) the balance of the account at the start of the exit reporting period; and
 (ii) the amount debited to the account during the exit reporting period for superannuation contributions surcharge that is assessed, by the Commissioner of Taxation, to be payable on the member's surchargeable contributions; and
 (iii) the amount of interest debited to the account, under subsection 16(4) of that Act, during the exit reporting period; and
 (iv) the balance of the account at the end of the exit reporting period.

7.9.58  Information to be given in cases other than death of RSA holder
 (1) For paragraph 1017D(5)(g) of the Act, if a reporting period for an RSA is the exit reporting period to which paragraph 1017D(2)(d) of the Act applies for an RSA holder who ceases to be an RSA holder, otherwise than by death:
 (a) the RSA provider must give the RSA holder the information mentioned in regulation 7.9.19; and
 (b) regulation 7.9.22 does not apply.
 (2) A nil