Corporations Regulations 2001
SCHEDULE 10D
-
FORM AND CONTENT OF PRODUCT DISCLOSURE STATEMENT
-
SUPERANNUATION PRODUCT TO WHICH SUBDIVISION 4.2B OF DIVISION 4 OF PART 7.9 APPLIES
Section 7 of the Product Disclosure Statement must describe, in the form of a summary, the significant tax information relating to superannuation products, including:
(a) how tax amounts due are paid; and
(b) the main taxes that are payable in relation to contributions (if contributions are permitted), fund earnings and withdrawals.
9(2)
Section 7 must:
(a) state, in the form of a warning, that the person should provide the person ' s tax file number as part of acquiring the superannuation product; and
(b) explain, in the form of a summary, the consequences if the person does not provide the person ' s tax file number; and
(c) if contributions are permitted - set out a warning that there will be taxation consequences if the contribution caps applicable to superannuation are exceeded.
9(3)
The superannuation trustee may provide additional information about taxation matters relating to superannuation products by applying, adopting or incorporating a matter in writing.
CCH Note - modifying legislative instruments: The application of Schedule 10D is affected by the ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070.
For other modifying legislative instruments or class orders, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
Modifying legislative instruments
9 Contents of section 7 (How super is taxed) 9(1)Section 7 of the Product Disclosure Statement must describe, in the form of a summary, the significant tax information relating to superannuation products, including:
(a) how tax amounts due are paid; and
(b) the main taxes that are payable in relation to contributions (if contributions are permitted), fund earnings and withdrawals.
9(2)
Section 7 must:
(a) state, in the form of a warning, that the person should provide the person ' s tax file number as part of acquiring the superannuation product; and
(b) explain, in the form of a summary, the consequences if the person does not provide the person ' s tax file number; and
(c) if contributions are permitted - set out a warning that there will be taxation consequences if the contribution caps applicable to superannuation are exceeded.
9(3)
The superannuation trustee may provide additional information about taxation matters relating to superannuation products by applying, adopting or incorporating a matter in writing.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.