Corporations Regulations 2001

SCHEDULE 10F - FORM AND CONTENT OF PRODUCT DISCLOSURE STATEMENT - SIMPLE SUB-FUND PRODUCTS  

(regulation 7.9.11ZE )

9   Contents of section 7 (How sub-funds of CCIVs are taxed)  

9(1)    
Section 7 of the Product Disclosure Statement for the simple sub-fund product must state, in the form of a warning, that:

(a)    investing in a simple sub-fund product is likely to have tax consequences; and

(b)    persons are strongly advised to seek professional tax advice.

9(2)    
Section 7 must also include statements to the following effect:

(a)    CCIVs and sub-funds do not pay tax on behalf of members;

(b)    members of the sub-fund are assessed for tax on any income and capital gains generated by the sub-fund.

9(3)    
The CCIV may provide additional information about:

(a)    taxation matters relating to the sub-fund of the CCIV; or

(b)    taxation matters relating to sub-funds of CCIVs;

by applying, adopting or incorporating a matter in writing.

Note: For taxation matters relating to sub-funds of CCIVs, see Subdivision 195-C of the Income Tax Assessment Act 1997 .