Document ID: chunk:federal_register_of_legislation:F2023L00724:body:0:p6
Version: federal_register_of_legislation:F2023L00724
Segment Type: other
Provision Reference: 
Character Range: 14058–18904

at the beginning of the period                                                    This is the opening balance of retained profits at beginning of the reporting period.

Retained profits balance at the end of the period                                                          This is the closing balance of retained profits at end of the reporting period.

                                                                                                           For a statutory fund / benefit fund, this is calculated as the sum of:

                                                                                                               * retained profits balance at beginning of period;
                                                                                                               * profit (loss) after income tax attributable to members of the company;
                                                                                                               * retained profits transfers from SHF / MF to SF (AASB 17 SRPN) / SF (AASB 17 SRPP) / BF;
                                                                                                               * retained profits transfers from SF (AASB 17 SRPN) / SF (AASB 17 SRPP) / BF to SHF / MF; and
                                                                                                               * other retained profits movements.

                                                                                                           For a life insurer, this is calculated as the sum of:

                                                                                                               * retained profits balance at beginning of period;
                                                                                                               * profit (loss) after income tax attributable to members of the company;
                                                                                                               * retained profits transfers from SHF / MF to total SF (AASB 17 SRPN) / total SF (AASB 17 SRPP) / total BF;
                                                                                                               * retained profits transfers from total SF (AASB 17 SRPN) / total SF (AASB 17 SRPP) / total BF to SHF / MF;
                                                                                                               * dividends; and
                                                                                                               * other retained profits movements.
Retained profits transfers from SF (AASB 17 SRPN) / SF (AASB 17 SRPP) / BF to SHF / MF                     For a life insurer, this is the amount of retained profits transferred to the SHF from:

                                                                                                               * AASB 17 SRPN of the SF; and
                                                                                                               * AASB 17 SRPP of the SF.

                                                                                                           For a friendly society, this item is the amount of AASB 17 SRP transferred from the BF to the MF.
Retained profits transfers from SHF / MF to SF (AASB 17 SRPN) / SF (AASB 17 SRPP) / BF                     For a life insurer, this is the amount of retained profits transferred from the SHF to:

                                                                                                               * AASB 17 SRPN of the SF; and
                                                                                                               * AASB 17 SRPP of the SF.

                                                                                                           For a friendly society, this item is the amount of AASB 17 SRP transferred from the MF to the BF.
Retained profits transfers from SHF / MF to total SF (AASB 17 SRPN) / total SF (AASB 17 SRPP) / total BF   For a life insurer, this is the amount of retained profits transferred from the SHF to:

                                                                                                               * AASB 17 SRPN across all SFs; and
                                                                                                               * AASB 17 SRPP across all SFs.

                                                                                                           For a friendly society, this item is the amount of AASB 17 SRP transferred from the MF to all BFs.
Retained profits transfers from total SF (AASB 17 SRPN) / total SF (AASB 17 SRPP) / total BF to SHF / MF   For a life insurer, this is the