Financial Sector (Collection of Data) (reporting standard) determination No. 20 of 2021
Sign of numbers in reportingSign of numbers in reporting
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Sign of numbers in reporting
Fees, costs and taxes would typically reduce a member’s balance. However, for the purpose of SRF 705.0 they should be reported as a positive number. If a fee, cost or tax is rebated and therefore works to increase a member’s balance, this should be reported as a negative number.
For example, when reporting an administration fee of $120.00 for the year ending 30 June, if the RSE licensee subsequently received a tax rebate in relation to the administration fee, and the rebate was passed back to members, this should be reported as tax of -$18.00 (for example).
No adjustment in sign is needed in reporting investment returns.