Commonwealth Consolidated Regulations

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Information for RSA: amount reaches $10 000

                   For paragraph 1017D(5)(g) of the Act, if the amount of an RSA at the end of a reporting period is at least $10 000, the periodic statement for that reporting period must include the following, in addition to the details mentioned in regulations 7.9.19 and 7.9.22:

                     (a)  a statement of that fact;

                     (b)  a statement that the information contained in the periodic statement is important and that the notice must be read carefully;

                     (c)  a statement that outlines the effect of the lower-risk/ lower-return nature of the RSA on possible benefits in the long term;

                     (d)  a suggestion that the RSA holder may wish to consider:

                              (i)  other superannuation arrangements that may provide a greater return over the long term; and

                             (ii)  seeking advice on alternative investment strategies that may be more suitable.

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