Document ID: chunk:federal_register_of_legislation:F2017L00728:body:0:p9
Version: federal_register_of_legislation:F2017L00728
Segment Type: other
Provision Reference: 
Character Range: 22319–25732

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.

Item 10                             Report investment income and gains/losses in item 10.

Investment income and gains/losses  Represents the total investment income from superannuation activities. Includes: investment income after impairment expense, gains/losses on investments and other investment income.

Item 11           Report operating income in item 11.

Operating income  Represents income sourced from miscellaneous operating activities. Includes: income from scrip lending; income associated with underwriting activities; fees and commissions; rebates on fees charged to members, costs, commissions and charges; and other miscellaneous income. Excludes: investment income.

Item 12              Report investment expenses in item 12.

Investment expenses  Represents expenses that relate to the investment of the assets of the entity. Includes: expenses for which investment fees are charged and expenses associated with generating income on investments.

Item 13                  Report administration expenses and operating expenses in item13.

Administration expenses  Represents expenses that relate to the administration or operation of the fund. Includes: administration expenses for which administration fees are charged.  Report the total expense charged by an administrator where the administrator is also a service provider of activities other than administration e.g. custodial, and the expense is not segregated by activity type.

Operating expenses       Represents expenses that relate to the operation of the fund by the RSE licensee. Includes: operating expenses for which administration fees are charged, such as expenses relating to advertising/marketing, commissions, director/individual trustee expenses, operating expenses associated with service provider and other operating expenses. Excludes: administration expenses.

Item 14          Report advice expenses in item 14.

Advice expenses  Represents expenses that relate to the provision of financial product advice to a member. Includes: expenses for which activity fees relating to provision of financial product are charged.

Item 15                     Item 15 is a derived item. Report net flows from insurance activities in item 15 as the total of insurance related inflows reported in item 15.1 minus the total of insurance related outflows reported in item 15.2 for both acquired insurance and self-insurance arrangements of the SAF or SMADF.

Insurance related inflows   Represents inflows sourced from insurance activities. Includes: insurance claim benefits or proceeds credited to member accounts, reinsurance benefits, rebate income received on premiums charged, fee rebates received against insurance fees charged to members and changes in insurance liabilities or reinsurance assets.

Insurance related outflows  Represents outflows incurred through insurance activities. Includes: premiums debited from member accounts, reinsurance premiums charged, expenses incurred for insurance claims and changes in insurance liabilities