Document ID: chunk:federal_register_of_legislation:F2023L00301:body:0:p14
Version: federal_register_of_legislation:F2023L00301
Segment Type: other
Provision Reference: 
Character Range: 38252–41641

investment income. Do not include underwriting expenses reported in GRF 310.0 Income Statement (GRF 310.0).

     3.1.               Total interest expense

This is automatically calculated as the sum of Items 3.1.1 to 3.1.4.

      3.1.1.             Borrowings

This is the value of interest expense from borrowings as determined in accordance with Australian Accounting Standards. For the purposes of this item exclude interest expense associated with derivative contracts or funds classified as loan capital.

      3.1.2.             Loan capital

The amount of interest expense incurred on borrowings related to loan capital reported under Item 23.1 of GRF 300.0 Statement of Financial Position.

      3.1.3.             Other interest bearing liabilities

This is a balancing item and is the value of any interest expense from other interest bearing liabilities not otherwise specifically reported under Items 3.1.1 or 3.1.2.

      3.1.4.             Derivatives

This is the value of interest expense associated with derivative contracts. This item is determined in accordance with Australian Accounting Standards.

      3.1.5.             Total interest expense paid to:

           3.1.5.1.           Parent entity

    Report the value of interest expense paid to the parent entity of the reporting insurer.

           3.1.5.2.           Controlled entities

    Report the value of interest expense paid to a subsidiary (or another branch of the parent entity for a Category C insurer) of the reporting insurer.

           3.1.5.3.           Associates / joint venture

    Report the value of interest expense paid to an associate or joint venture of the reporting insurer.

           3.1.5.4.           Other related parties

    Report the value of interest expense paid to related parties other than the parent entity, a subsidiary (or another branch of the parent entity for a Category C insurer), an associate or a joint venture of the reporting insurer.

     3.2.               Total personnel expenses

This is the value of personnel related expenses for the relevant period as determined in accordance with Australian Accounting Standards.

      3.2.1.             Wages & salaries

This is, for the duration of the relevant period, the value of remuneration expenses relating to wages and salaries as determined in accordance with Australian Accounting Standards.

      3.2.2.             Share-based payment expenses

This is the value of share-based remuneration expenses for the relevant period as determined in accordance with Australian Accounting Standards.

      3.2.3.             Other employee related costs

This is the value of remuneration expenses, other than wages and salaries and share-based payments, for the relevant period as determined in accordance with Australian Accounting Standards.

It is automatically calculated as Item 3.2 less the sum of Items 3.2.1 and 3.2.2.

     3.3.               Total occupancy and equipment expenses

This is the value, for the duration of the relevant period, of expenditure incurred on occupancy and equipment.

      3.3.1.             Depreciation / impairment:

This is the value of depreciation charged to profit and loss in respect of the reporting insurer's tangible assets as determined in accordance with Australian Accounting Standards.

           3.3.1.1.