Document ID: chunk:federal_register_of_legislation:F2021C00160:body:0:p20
Version: federal_register_of_legislation:F2021C00160
Segment Type: other
Provision Reference: 
Character Range: 53216–56302

clause 206 are subject to regulations 7.9.15A, 7.9.15B and 7.9.15C.

            (2) If a particular fee or cost is not charged, "nil", "zero", "0" or "not applicable" (if it would not be misleading) must be written in column 2 opposite the type of fee or cost.

            (3) If it is not possible to determine a single amount or percentage of a fee or cost, it may be written as a range of fees or costs.

            (4) If the exact amount of a fee or cost paid or payable is not known, an amount that is a reasonable estimate of the amount attributable to the retail client must be shown.

            (5) An amount set out in accordance with subclause (4) must be clearly designated as an estimate.

            (6) If an amount or cost has a number of components, the amount of each component must be listed separately.

                  Example: Management fees and costs: 1.8% of product holder's balance + $70 per year.

            (7) A cost or amount paid or payable must be shown (as applicable):

                (a) for each collective investment product or superannuation product—gross of:

                    (i) income tax and GST, after being reduced by any reduced inputs tax credits; and

                    (ii) stamp duty; and

                (b) for each collective investment product offered by an Australian passport fund or notified foreign passport fund—gross of:

                    (i) any indirect taxes equivalent to GST that are payable in another jurisdiction, after being reduced by any applicable tax credits that are available in that jurisdiction; and

                    (ii) any duties equivalent to stamp duty that are payable in another jurisdiction; and

                (c) without adjustment in relation to:

                    (i) any tax deduction available to the responsible entity, operator or trustee; or

                    (ii) the extent to which any tax deduction may be passed on to product holders.

    204A Column 2—presentation of transaction costs

        Transaction costs must be set out net of any amount recovered by the buy-sell spread charged by the trustee, responsible entity or operator of a notified foreign passport fund as defined in paragraphs (a) or (b) (as relevant) of the definitions of buy-sell spread in clause 101.

    204B Column 2—presentation of performance fees

        Where the amount for performance fees in relation to a collective investment product is negative, the "Amount" column must not specify the negative amount and must instead state "See Additional Explanation of Fees and Costs".

    205 Column 2—include information for each MySuper product or investment option

            (1) The fees and costs information must be set out:

                (a) for superannuation products—for each MySuper product and each investment option offered by the relevant superannuation entity; and

                (b) for collective investment products—for each investment option offered by the relevant managed investment scheme.

            (2) It may be:

                (a) set out