Document ID: chunk:federal_register_of_legislation:F2017L00728:body:0:p7
Version: federal_register_of_legislation:F2017L00728
Segment Type: other
Provision Reference: 
Character Range: 16830–19687

of the RSE consist entirely of individual policies and the audited net assets available for member benefits as at 30 June is not known by the insurer, report the notional balance of the RSE, as at 30 June, in item 7.2; otherwise, leave item 7.2 blank.

                   If an RSE has a balance date other than 30 June, report the value of the unaudited estimate of the net assets available for member benefits of the RSE, as at 30 June, in item 7.3; otherwise, leave item 7.3 blank. Note – this asset value will not be the 'balance date' asset value reported in item 3.

                   For early balancing RSEs (i.e. the RSE's balance date is before the relevant 30 June balance date that is being reported. This covers entities with a balance date between 1 January and 29 June): report the unaudited estimated of net assets available for member benefits, as at the 30 June that immediately follows the RSE's balance date.

                   For late balancing RSEs (i.e. the RSE's balance date is after the relevant 30 June balance date that is being reported. This covers entities with a balance date between 1 July and 31 December): report the unaudited estimated net assets available for member benefits, as at the 30 June that immediately precedes the RSE's balance date.

Individual policy  Represents an insurance policy over the life of one person.

Notional balance   Represents $20,000 multiplied by the number of lives insured.

Financial performance

Item 8 to item 21 inclusive collect the net change in assets available to pay members' benefits of a SAF or SMADF, including movements in members' benefits flows in and out of a SAF or SMADF, the income and expenses arising from superannuation activities and insurance activities, profit/loss before and after income tax and reserve movements that impact the net assets available to pay members' benefits of a SAF or SMADF.

Report contributions gross of contributions tax and any other tax and do not deduct: entry fees; deferred entry fees; commissions; management fees or any other ongoing fees or charges.

Report income gross of any related expenses i.e. do not net investment expenses against investment income.

Report expenses gross of any deductions or related rebates i.e. do not net related rebates against investment expenses.

Item 8                        Report total members' benefits flows into the SAF or SMADF in item 8 as the total of contributions net of contributions tax and contributions surcharge, rollovers, successor fund transfers and other types of members' benefits paid into the SAF or SMADF.

                              Where 'operational risk financial requirement trustee capital surplus distributed to member accounts' will be reported in item 10.1 of Reporting Form SRF 114.0 Operational Risk Financial Requirement for the annual reporting