Document ID: chunk:federal_register_of_legislation:F2023L00717:body:0:p20
Version: federal_register_of_legislation:F2023L00717
Segment Type: other
Provision Reference: 
Character Range: 80074–84663

premiums).

            This is present value of future premiums.                                                                                                                                                                                       This is present value of premiums gross of tax on premiums for participating business at the discount rate chosen under AASB 17.

            For participating investment account benefits, treat deposits as premiums.                                                                                                                                                      Report gross of tax on premiums. The premium tax expense is reported in A10.4.

            Report gross of tax on premiums. The premium tax expense is reported in L10.4.                                                                                                                                                  Report net of present value of reinsurance premiums relating to participating business.

            Report net of present value of reinsurance premiums relating to participating business.                                                                                                                                         This is a negative component of EFCF (i.e. report it as a negative number).

            This is a negative component of BEL (i.e. report it as a negative number).
Item L10.4  Report PV other BEL components.                                                                                                                                                                                     Item A10.4  Report PV other EFCF (non-PRP portion) components.

            This is present value of other BEL components such as tax on premiums and tax relief on expenses (excluding FUM-based investment expenses). This is a positive component of BEL.                                                This is present value of other EFCF (non-PRP portion) components such as tax on premiums and tax relief on expenses (excluding FUM-based investment expenses) for participating business at the discount rate chosen under AASB 17. This is a positive component of EFCF.
Item L10.5  Report value of future bonuses.                                                                                                                                                                                     Item A10.5  Report value of future policyholder profits within EFCF (non-PRP portion).

            This is present value of future policyholder bonuses for participating business at the discount rate chosen under the VSA led method. This is a positive component of Life Act policy liabilities.                              This is present value of future policyholder profits for participating business at the discount rate chosen under AASB 17. This is a positive component of EFCF.
Item L10.6  Report value of future shareholder profits.                                                                                                                                                                         Item A10.6  Value of future shareholder profits within RA and CSM.

            This is present value of future shareholder profits for participating business at the discount rate chosen under the VSA led method. This is a positive component of Life Act policy liabilities.                               This is present value of RA and CSM for participating business at the discount rate chosen under AASB 17. These are positive components of AASB 17 liabilities.

11. Impact of bonus distributions

Item L11.1  Report interim and terminal bonus distributions from Life Act PRP, Life Act SRPP, Life Act SRP (overseas par), AASB 17 SRPN and share capital.                                                                                                                                                                                                            Item A11.1                                                                                                                                                                                                     Report interim and terminal bonus distributions from EFCF (PRP portion), AASB 17 SRPP, AASB 17 SRP (overseas par), AASB 17 SRPN and share capital.

            This is the amount of interim and terminal bonus distributed from Life Act PRP, Life Act SRPP, Life Act SRP (overseas par), shareholder retained profits associated with non-participating business under AASB 17 (AASB 17