Document ID: chunk:federal_register_of_legislation:F2023L00717:body:0:p14
Version: federal_register_of_legislation:F2023L00717
Segment Type: other
Provision Reference: 
Character Range: 50921–54420

which fall outside of VSA – impact on Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).                                                                                                                                 Item A4.3  Report non-directly attributable expenses – impact on EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par).

           This is the amount of any other expenses incurred in relation to participating business (for expense categories that were not included in VSA e.g. one-off expenses) that is allocated to Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).              This is non-directly attributable expenses incurred in relation to participating business (e.g. one-off expenses), allocated to EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par).

           Life Act PRP, Life Act SRPP and Life Act SRP (overseas par) decrease if a payable balance is recognised or cash is paid directly without recognising a payable balance.                                                                                             EFCF (PRP portion) and AASB 17 SRPP and AASB 17 SRP (overseas par) decrease if a payable balance is recognised or cash is paid directly without recognising a payable balance.
Item L4.4  Report current and deferred tax expense due to L4.1, L4.2 and L4.3 – impact on Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).                                                                                                              Item A4.4  Report current and deferred tax expense due to A4.1, A4.2 and A4.3 - impact on EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par).

           This is current and deferred tax expense due to L4.1, L4.2 and L4.3 (i.e. investment earnings and expenses) that is allocated to Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).                                                                       This is current and deferred tax expense due to A4.1, A4.2 and A4.3 (i.e. investment earnings and expenses) that is allocated to EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par).

           Life Act PRP, Life Act SRPP and Life Act SRP (overseas par) decrease if a payable / deferred tax liability balance is recognised or cash is paid directly without recognising a tax payable balance.                                                                EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par) decrease if a tax payable / deferred tax liability balance is recognised or cash is paid directly without recognising a tax payable balance.

5. Impact of interim and terminal bonus

Item L5.1  Report allocation to Life Act PRP due to interim and terminal bonus paid.                                                                                                                                                                                    Item A5.1  Report allocation to EFCF (PRP portion) due to interim and terminal bonus paid.

           This is the amount allocated to Life Act PRP due to interim and terminal bonus paid.                                                                                                                                                                                    This is the amount, if any, allocated to EFCF (PRP portion) due to interim and terminal bonus paid.

           Interim and terminal bonus is recognised as both an allocation of profit (reported in