Document ID: chunk:federal_register_of_legislation:F2015L01008:body:0:p10
Version: federal_register_of_legislation:F2015L01008
Segment Type: other
Provision Reference: 
Character Range: 26271–29563

be shown gross of tax obligations.

Other administration costs                  Represents costs associated with administration charged to a member by way of a reduction in returns, deduction from contributions or deduction from account balance, but which were not explicitly disclosed in the Product Disclosure Statement. These costs must be shown gross of tax obligations.

Administration related tax expense/benefit  Represents the tax expense or benefit derived from administration fees or costs charged to a member.

Advice fees                                 Represents a fee within the meaning given in s. 29V(8) of the SIS Act, gross of tax obligations, that relates to the provision of financial product advice to a member by the RSE licensee and which is not incorporated into another fee.

Indirect cost ratio advice costs    Represents the portion of the indirect cost ratio relating to advice costs. These costs must be shown gross of tax obligations.

Other advice costs                  Represents costs associated with advice charged to a member by way of a deduction from returns, deduction from contributions or deduction from account balance, which were not explicitly disclosed in the Product Disclosure Statement. These costs must be shown gross of tax obligations.

Advice related tax expense/benefit  Represents the tax expense or benefit derived from advice expenses or due to advice related activities.

Item 3                    Information reported in item 3 relates to the level of investment risk on the product dashboard.[16]

                          Report the level of investment risk for the non-lifecycle MySuper product or the level of investment risk for the lifecycle stage of a lifecycle MySuper product, as relevant, in item 3 with the relevant risk label in item 3.1.

                          The relevant risk labels relating to each level of investment risk are:

                          Relevant risk label  Level of investment risk - estimated number of negative net investment returns over a 20 year period

                          Very low             Less than 0.5
                          Low                  0.5 to less than 1
                          Low to medium        1 to less than 2
                          Medium               2 to less than 3
                          Medium to High       3 to less than 4
                          High                 4 to less than 6
                          Very high            6 or greater

                          Refer to the Standard Risk Measure Guidance Paper For Trustees July 2011 and Standard Risk Measure, Implementation Guidance For Trustees December 2012 issued by the Association of Superannuation Funds of Australia and the Financial Services Council in respect of disclosure of investment risk, including risk labels.

Level of investment risk  Represents the estimated number of years in a 20 year period that the RSE licensee estimates that negative net investment returns will be incurred.

Item 4                                 Information reported in item 4 relates to the statement of fees and other costs on the product dashboard.[17]

                                       Report the statement of fees and costs in item 4 as a prospective figure,