Financial Sector (Collection of Data) (reporting standard) determination No. 2 of 2025
Reporting Standard SRS 340.0 RSE Licensee Financial Statements
Financial Sector (Collection of Data) Act 2001
I, Andrew Robertson, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act), determine Reporting Standard SRS 340.0 RSE Licensee Financial Statements, in the form set out in the Schedule, which applies to financial sector entities to the extent provided in paragraph 3 of that reporting standard.
Under section 15 of the Act, I declare that Reporting Standard SRS 340.0 RSE Licensee Financial Statements shall begin to apply to those financial sector entities at the start of the day after the day this instrument is registered on the Federal Register of Legislation.
This instrument commences at the start of the day after the day it is registered on the Federal Register of Legislation.
Dated: 06 January 2025
Andrew Robertson
Chief Data Officer
Technology and Data Division
Interpretation
In this instrument:
APRA means the Australian Prudential Regulation Authority.
financial sector entity means financial sector entities of a kind referred to in paragraphs 5(2)(a) to (d)has the meaning given by section 5 of the Act.
Schedule
Reporting Standard SRS 340.0 RSE Licensee Financial Statements comprises the document commencing on the following page.
Reporting Form | Reporting Table | Reporting Period | Due date | First reporting period |
SRF 340.0 RSE licensee financial statements (SRF 340.0) | Table 1 Statement of comprehensive income | Each financial year | Within 3 months after the end of the relevant reporting period. | The first financial year ending on or after 30 June 2025 |
SRF 340.0 | Table 2 Statement of financial position | Each financial year | Within 3 months after the end of the relevant reporting period. | The first financial year ending on or after 30 June 2025 |
SRF 340.0 | Table 3 Statement of changes in equity | Each financial year | Within 3 months after the end of the relevant reporting period. | The first financial year ending on or after 30 June 2025 |
SRF 340.0 | Table 4 Related Party Disclosures | Each financial year | Within 3 months after the end of the relevant reporting period. | The first financial year ending on or after 30 June 2025 |
Notices
Note: For the avoidance of doubt, APRA’s expectation is that if the due date falls on a day other than a usual business day, an RSE licensee will submit the information required no later than the due date.
without changing any substantive requirement in the form or instructions.
APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998.
Chief Executive Officer means the chief executive officer of the RSE licensee, by whatever name called, and whether or not he or she is a member of the Board of the RSE licensee[3].
Chief Financial Officer means the chief financial officer of the RSE licensee, by whatever name called.
due date means the relevant due date under paragraphs 5, 7, or if applicable, paragraph 8 of this Reporting Standard.
financial year means the financial year (within the meaning of the Corporations Act 2001) of the RSE Licensee.
reporting period means a period mentioned in paragraph 5, or if applicable, paragraph 6 of this Reporting Standard.
RSE auditor means an auditor appointed by the RSE licensee to perform functions under this Reporting Standard.
RSE licensee has the meaning given in subsection 10(1) of the SIS Act.
SIS Act means Superannuation Industry (Supervision) Act 1993.
SRS 101.0 means Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections.
This instruction guide is designed to assist in the completion of Reporting Form SRF 340.0 RSE Licensee Financial Statements (SRF 340.0). This form collects information relating to the RSE licensee’s audited financial statements and reports.
SRF 340.0 must be completed for each RSE licensee in respect of its business operations.
Tables described in this reporting form list each of the data fields required to be reported.
In completing the reporting standards, unless otherwise specifically stated, reporting RSE Licensees are to report in accordance with the relevant Australian Accounting Standards.
Report values in this Reporting Standard in whole Australian dollars (AUD) with no decimal place.
Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).
Report each revenue and expense item listed in Table 1 that the RSE Licensee is able to categorise within their financial accounts. For any items with nil value, leave the field blank. Report expenses as negative values.
Where certain expense items are aggregated into a single service fee and are not available by expense category, report the total amount in ‘Other Expenses’ and leave the other relevant expense item field blank. For example, if RSE licensee expenses comprise a single, non-itemised payment to a service provider to cover both ‘Administration expenses’ and ‘Occupancy expenses’, report the total expense amount under ‘Other expenses’ and leave the ‘Administration expenses’ and 'Occupancy expenses' fields blank.
APRA expects where revenue and expense items are able to be broken down into separate items, that they be reported under the relevant category. For example, where Director Remuneration and Executive Remuneration have been quantified to meet other disclosure requirements, they should be reported separately in this table.
Reporting period |
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| $ | Instruction |
1. Revenue |
| Item 1 Revenue, is a derived item calculated as the sum of item 1.1 to item 1.5. |
1.1 Trustee service fees (superannuation related) |
| Report service fees related to trustee services provided by the RSE Licensee. |
1.2 Trustee risk reserve fees |
| Report Trustee risk reserve fees paid to the trustee. |
1.3 Other service fees |
| Report service fees related to other services (non-trustee related) provided by the RSE Licensee. |
1.4 Interest income |
| Report interest income. |
1.5 Other revenue |
| Report all other revenue that is not reported elsewhere. |
2. Expenses |
| Item 2 Expenses, is a derived item calculated as the sum of item 2.1 to item 2.7. |
2.1 Employee expenses |
| Item 2.1 Employee expenses, is a derived item calculated as the sum of item 2.1.1 and item 2.1.2. |
2.1.1 Executive remuneration |
| Report Executive Remuneration. |
2.1.2 Staff wages |
| Report Staff wages. |
2.2 Directors' expenses |
| Report Director Remuneration. |
2.3 Administration expenses |
| Report administration expenses (excluding occupancy expenses). |
2.4 Occupancy expenses |
| Report occupancy expenses. |
2.5 Regulatory levies or fees |
| Report all fees and levies paid to regulatory bodies such as APRA and ASIC. |
2.6 Regulatory fines or penalties |
| Report all fines and penalties paid to regulatory bodies such as APRA and ASIC. |
2.7 Other expenses |
| Report all other expenses that are not reported elsewhere. |
3. Net profit / (loss) before tax |
| Item 3 Net profit / (loss) before tax, is a derived item calculated as the difference between item 1 and item 2. |
4. Income tax (expense) / benefit |
| Report RSE licensee income tax (expense)/benefit. Report expenses as a negative number and benefits as a positive number. |
5. Net profit / (loss) after tax |
| Item 5 Net profit / (loss) after tax, is a derived item calculated as the difference between item 3 and item 4. |
6. Other comprehensive income |
| Report RSE Licensee other comprehensive income. |
7. Total comprehensive income |
| Item 7 Total comprehensive income, is a derived item calculated as the sum of item 5 and item 6. |
Report asset, liability and equity items listed in Table 2 that the RSE licensee is able to categorise within their financial accounts. For any items with nil value, leave the field blank. Reporting of reserves should reflect the risk reserve structure within the RSE licensee. ‘Other Reserves’ should include all reserves which are maintained to indemnify trustees from the assets of the trust.
Reporting period |
|
| $ | Instruction |
1. Total Assets |
| Item 1 Total Assets, is a derived item calculated as the sum of item 1.1 to item 1.6. |
1.1 Cash and cash equivalents |
| Report cash and cash equivalents. |
1.2 Trade and other receivables |
| Report trade and other receivables. |
1.3 Financial assets |
| Report financial assets. |
1.4 Property, plant and equipment |
| Report property, plant and equipment net of depreciation. |
1.5 Deferred tax assets |
| Report deferred tax assets. |
1.6 Other assets |
| Report all other assets that are not reported elsewhere. |
2. Total Liabilities |
| Item 2 Total Liabilities, is a derived item calculated as the sum of item 2.1 to item 2.4. |
2.1 Trade and other payables |
| Report trade and other payables. |
2.2 Deferred tax liabilities |
| Report deferred tax liabilities. |
2.3 Employee benefits |
| Report provisions for employee benefits. |
2.4 Other liabilities |
| Report all other liabilities that are not reported elsewhere. |
3. Net Assets |
| Item 3 Net Assets, is a derived item calculated as item 1 minus item 2. |
4. Total Equity |
| Item 4 Total Equity, is a derived item calculated as the sum of item 4.1 to item 4.4. |
4.1 Contributed equity |
| Report contributed equity. |
4.2 Trustee risk reserves |
| Report trustee risk reserves. |
4.3 Other reserves |
| Report all other reserves that are not reported elsewhere. |
4.4 Retained earnings/(losses) |
| Report retained earnings/(losses). Report retained losses as a negative number. |
For each category of equity type listed in the Table 3 columns ‘Contributed equity’, ‘Trustee risk reserve’, ‘Other reserves’ and ‘Retained earnings/(losses)’, report opening balances and all movements in equity over the reporting period. Report movements in equity out of the RSE licensee as negative values. The ‘Total equity’ column is a derived item calculated as the sum of all the Table 3 columns. Item 1.4 ‘Transactions with owners in their capacity as owners’ is a derived item calculated as the sum of items 1.4.1 and 1.4.2. The Table 3 row ‘Balance at the end of the year’ is a derived item calculated as the sum of all the row items 1. to 1.4. For any items with nil value, leave the field blank.
Reporting period |
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| Contributed equity | Trustee risk reserve | Other reserves | Retained earnings/ (losses) | Total equity |
1. Balance at the beginning of the year |
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1.1 Total comprehensive income for the year |
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1.2 Net transfers between reserves |
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1.3 Payments from reserves |
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1.4 Transactions with owners in their capacity as owners (includes dividends provided for or paid). |
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1.41 Dividends provided for or paid |
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1.42 Other |
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2. Balance at the end of the year |
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Report all Related Party (AASB 124) transactions, as disclosed in the RSE Licensee Annual Financial Report, which occurred between the RSE Licensee and related parties for the relevant reporting period.
The Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.
Reporting period |
|
Column | Field name | Unique identifier | Applicable to | Valid values | Description |
1 | Related Party (AASB 124) Name | Y | All filers | Free text | Report the Related Party (AASB 124) business name. |
2 | Related Party (AASB 124) Australian Business Number (ABN) |
| All filers | ABN Integer | Report the Related Party (AASB 124) ABN. Where the ABN is not available, report the Related Party (AASB 124) Counterparty identifier (LEI) in Column 3. |
3 | Related Party (AASB 124) Counterparty identifier (LEI) |
| All filers | LEI Alpha-numeric code | Where an ABN is not available report the Counterparty identifier (LEI) for the Related Party (AASB 124). |
4 | Related Party (AASB 124) Relationship Type | Y | All filers |
| Report the Related Party (AASB 124) relationship type. |
5 | Related Party (AASB 124) Transaction Type | Y | All filers |
| Report the Related Party (AASB 124) transaction type for the transaction. |
6 | Related Party (AASB 124) Transaction Type - Other |
| All filers | Free text | Report the description of the 'Other' Related Party (AASB 124) transaction type. Otherwise, leave this field blank. |
7 | Payment From RSE Licensee To Related Party (AASB 124) |
| All filers | Whole dollars | Report the dollar value of the transaction that occurred between the RSE Licensee and Related Party (AASB 124) during the reporting period. Report each unique combination of Related Party (AASB 124) name, Related Party (AASB 124) transaction type and payment from RSE licensee to Related Party (AASB 124) on a separate line. |
8 | Payment To RSE Licensee From Related Party (AASB 124) |
| All filers | Whole dollars | Report the dollar value of the transaction that occurred between the RSE licensee and Related Party (AASB 124) during the reporting period. Report each unique combination of Related Party (AASB 124) name, Related Party (AASB 124) transaction type and payment from Related Party (AASB 124) to RSE licensee on a separate line. |
[1] For the purposes of this Reporting Standard, an RSE licensee’s ‘business operations’ includes all activities it conducts as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee.
[2] Refer also to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).
[3] Refer to Prudential Standard SPS 510 Governance.