Document ID: chunk:federal_register_of_legislation:F2015L00817:body:0:p5
Version: federal_register_of_legislation:F2015L00817
Segment Type: other
Provision Reference: 
Character Range: 11780–14630

publication purposes.

Reporting level
SRF 540.0 must be completed for each registrable superannuation entity (RSE), defined benefit RSE, pooled superannuation trust (PST), eligible rollover fund (ERF) and MySuper product.

Reporting basis and unit of measurement

Report all items on SRF 540.0 in accordance with the Australian Accounting Standards unless otherwise specified.

Items on SRF 540.0 must be reported with respect to transactions that occurred during the reporting period.

Items on SRF 540.0 are to be reported as thousands of dollars.

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

Fees paid

Item 1 collects information about each type of fee, excluding activity fees, and the manner in which it was paid.

Item 1                        Report the aggregate amount of each fee, excluding activity fees, as a separate line in item 1. Activity fees must be reported in item 3. Where a fee has been paid via one or more sources, report a separate line for each source of payment for that fee.

                              Report the fee type in column 1, the source of payment in column 2 and the value of fees paid, gross of any fee rebate, in column 3.

                              Where the source of payment is not listed in item 1 column 2 report the fee in item 1.1. Report the fee type in column 1, a description of the source of payment in column 2 and the value of fees paid column 3; otherwise leave item 1.1 blank.

                              The fee types are: administration fee, advice fee, exit fee, insurance fee, investment fee, switching fee and 'other fee'.

                              The sources of payment are: fee paid by member, fee paid by employer-sponsor, fee paid by reserve and fee paid by RSE licensee.

Activity fee                  Represents a fee charged to a member that relates to an activity of an RSE licensee that is engaged in at the request, or with the consent, or a member or that relates to a member and is required by law. Reference: SIS Act, s. 29V(7).

Administration fee            Represents a fee charged to a member, gross of tax obligations, that relates to the administration or operation of the fund. Reference: SIS Act, s. 29V(2).

Advice fee                    Represents a fee charged to a member, 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. Reference: SIS Act, s. 29V(8).

Exit fee                      Represents a fee charged to a member to recover the costs of disposing of all or part of members' interests in a fund. Reference: SIS Act, s. 29V(6).

Insurance fee                 Represents a fee charged to a member that relates directly to insurance premiums