Document ID: chunk:federal_register_of_legislation:F2017L00728:body:0:p5
Version: federal_register_of_legislation:F2017L00728
Segment Type: other
Provision Reference: 
Character Range: 11140–14187

indicate that the definition is provided in these instructions.

Financial position

Item 1 to item 7 inclusive collect information about the assets and liabilities of the SAF or SMADF, including information to assist the annual determination of APRA's supervisory levies.

Item 1  Report total assets in item 1.

        Report the portion of total assets reported in item 1 that is investments in item 1.1.

        Report the portion of total assets that is deferred tax assets in item 1.2.

        Report the value of in-house assets held by the RSE in item 1.3.

        Report the value of in-house assets held by the RSE for which the entity has an exemption from APRA in writing, in item 1.3.1.

Assets  Represents a resource: (a) controlled by an entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity. Reference: Australian Accounting Standards.

Investments                      Represents the purchase of a financial product or other item of value with an expectation of favourable future returns. Excludes: derivative assets, derivative liabilities and property, plant and equipment.

Deferred tax assets              Represents the value of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carry forward of unused tax losses; and (c) the carry forward of unused tax credits. Reference: Australian Accounting Standards.

In-house assets held by the RSE  Represents in-house assets within the meaning given in Part 8 of the SIS Act.

Item 2       Report total liabilities in item 2.

Liabilities  Represents a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Reference: Australian Accounting Standards.

Item 3                                      Item 3 is a derived item. Report net assets available for members' benefits in item 3 as total assets reported in item 1 minus total liabilities reported in item 2.

Net assets available for members' benefits  Represents the surplus of total assets less total liabilities which is underlying the value of members' benefits. Includes: reserves.

Item 4   Report total reserves in item 4.

Reserve  Represents the portion of net assets available for members' benefits which is not total liability for members' benefits. Includes: reserves such as ORFR reserve, investment reserve and self-insurance reserve. Excludes: surplus/deficit in net assets, unallocated contributions that are not part of a formal reserve.

Item 5                           Item 5 is a derived item. Report total liability for members' benefits in item 5 as the sum of defined contribution members' benefits reported in item 5.1, defined benefit members' benefits reported in item 5.2 and unallocated contributions reported in item 5.3.

                                 For a defined benefit member that has both defined benefit members' benefits and defined