Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p45
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 167115–170975

offs).

Reverse mortgage                             Means a loan secured by residential property in which repayments are generally deferred and capitalised, with full repayment due when the borrower is deceased, sells the property or moves out of the property.  Generally, the loan can be taken as a lump sum, a regular income stream, a line of credit or a combination of these options.

                                             For reporting purposes, treat these loans like a revolving credit facility. Include any accrued interest in the credit limit and the credit outstanding.

Reverse repo                                 The buyer of the asset in a repo is referred to as conducting a reverse repo.

Revolving credit                             Means lending facilities that the borrower may repeatedly draw down in part or in full up to an authorised credit limit and repay, any credit drawn, in part or in full, on multiple occasions without the facility being cancelled.  Repayments (other than of charges and interest) reduce the borrowings, thereby increasing the amount of unused credit available.  Include facilities with a fixed term that meet the above criteria.

                                             It includes:

                                                  * arranged overdrafts.  These are generally an agreed arrangement between a lender and a borrower to extend credit when the balance in an attached transaction account falls below zero;
                                                  * unarranged overdrafts.  These refer to the situation when a transaction account holder withdraws an amount greater than the balance of the account leaving a negative balance. The lender usually charges an overdrawn account fee as well as interest on the negative balance, and usually requires the account holder to restore the account's positive balance;
                                                  * secured and unsecured revolving credit facilities; and
                                                  * reverse mortgages.

                                             It excludes:

                                                  * redraw facilities attached to fixed-term loans; and
                                                  * bill facilities.

Road vehicles                                Refers to vehicles that are primarily to be used on the road such as cars, trucks, motor cycles and utes.

                                             It excludes: attachments such as trailers, semi-trailers. Report these as other transport vehicles and equipment.

Royalties income/expense                     Refers to payments made by one business or individual for the use of rights owned by another business or individual.  Do not deduct withholding tax.

                                             It includes:

                                                  * payments under licensing arrangements; and
                                                  * payments of royalties from intellectual property (e.g. patents, copyrights, etc.).

                                             It excludes:

                                                  * expensed computer software licence fees; and
                                                  * capitalised computer software licence fees.

Rural property                               Means any land where the primary purpose is for agricultural or pastoral use.

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Scheduled repayments                                      Means the minimum repayment amount required to be paid in order to fully amortise the principal (and any fees or changes as appropriate) by the loan maturity date in accordance with the loan conditions. For loans that are ahead of schedule (or behind schedule), the minimum repayments reported should be calculated based on