Document ID: chunk:federal_register_of_legislation:F2015L00827:body:0:p4
Version: federal_register_of_legislation:F2015L00827
Segment Type: other
Provision Reference: 
Character Range: 8445–11667

2.  Total cost of processing contribution transactions from active employers

Reporting Form SRF 711.0

SuperStream Benchmarking Measures

Instructions

These instructions assist completion of Reporting Form SRF 711.0 SuperStream Benchmarking Measures (SRF 711.0). SRF 711.0 collects information on contribution transactions for each RSE. Information reported in SRF 711.0 is required primarily for the purposes of the Treasury. It may also be used by the Australian Taxation Office and APRA.

Additional SuperStream benchmarking metrics are reported in:

     * item 10.1 'administration expenses' on Reporting Form SRF 330.0 Statement of Financial Performance (SRF 330.0);

     * item 1 'administration fees' on Reporting Form SRF 540.0 Fees; and

     * item 1 'member account status', item 1.1 'active member account' and item 4.1.1 'member account with unique TFN' on Reporting Form SRF 610.0 Membership Profile.

Reporting level

SRF 711.0 must be completed for each RSE and defined benefit RSE.

Reporting basis and unit of measurement

Items on SRF 711.0 must be reported with respect to transactions and, where applicable, costs that occurred during the reporting period.

Report information quarterly with respect to transactions that occurred during the reporting period on a year to date basis.

Report information with respect to the total cost of processing contributions for each year of income of the entity.

Items on SRF 711.0 must be reported as whole numbers or as thousands of dollars.

Specific instructions

Terms highlighted in bold italics indicate that the definition is provided in these instructions.

Contributions processing

Items 1 and 2 collect the number and total cost of contribution transactions into the RSE.

Unit of measurement: report item 1 to item 1.3 inclusive as whole numbers; item 2 as thousands of dollars.

Item 1                    Report the portion of total contribution transactions into the RSE that were contribution transactions from active employers in item 1. Where multiple types of contributions are made in a single contribution transaction, report this as one transaction.

                          Where a contribution transaction was reversed by the RSE (e.g. because the employer provided insufficient data to enable identification of the member for whom the contribution was intended), do not report it in the total number of contribution transactions from active employers. Reversals outside the reporting period must be disregarded.

                          Report the portion of contribution transactions from active employers that were processed:

                              * using Channel A in item 1.1;

                              * using Channel B in item 1.2; and

                              * using non-conforming channels in item 1.3.

                          Example of contribution transactions from an active employer: An RSE receives a single set of data from an employer sponsor covering Superannuation Guarantee payments for ten employees with accumulation interests, including salary sacrifice contributions in respect of three of those employees and a payment in respect of a defined benefit pool