Reporting basis and unit of measurementReporting basis and unit of measurement

Reporting basis and unit of measurement

SRF 706.0 captures all fees and costs that are proposed to be charged to a member or would otherwise affect member balances. It includes all standard and customised fee structures, such as fees and costs that would appear in the Product Disclosure Statement (PDS) for the superannuation product, and fees and costs relating to accessible products available on platform pursuant to the PDS for those accessible products.

Unless otherwise instructed, report all items on SRF 706.0 in accordance with the RG 97 version indicated in SRF 605.0.

All fees and costs reported on SRF 706.0 must be reported ‘gross of tax obligations’ where ‘gross of tax obligations’ refers to gross of income tax, GST and stamp duty.

This means the fees and costs must be reported prior to taking into account any benefit of a tax deduction relating to a fee that is passed on to a member either as a reduction in tax on contributions or through the deduction of a fee that is lower than what is reported to take account of the tax deduction.

Amounts in SRF 706.0 are to be reported as whole dollars, dollars and cents on a per member basis, or percentages. Percentages should be reported as an unconverted number to four decimal places. For example, 12.3456 per cent is to be reported as 0.123456.

Items on SRF 706.0 must be reported as at the reporting day.