Superannuation Industry (Supervision) Amendment (Your Future, Your Super - Addressing Underperformance in Superannuation) Regulations 2023 (F2023L01063)
Schedule 1 Main amendments
Superannuation Industry (Supervision) Regulations 1994
64 At the end of regulation 9AB.24
Add:
(4) For the purposes of subregulation (1), work out the applicable transaction costs as follows:
(a) first, work out the product of the following:
(i) an account balance in respect of the Part 6A product;
(ii) the Part 6A product's transaction costs percentage in relation to the relevant year;
(b) work out the sum of the following:
(i) the result of paragraph (a);
(ii) the Part 6A product's transaction costs flat amount in relation to the relevant year;
(c) if the Part 6A product does not have a transaction costs cap in relation to the relevant year, the applicable transaction costs is the result of paragraph (b);
(d) if the Part 6A product has a transaction costs cap in relation to the relevant year, the applicable transaction costs is the lesser of the following:
(i) the result of paragraph (b);
(ii) that transaction costs cap.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).