Document ID: chunk:federal_register_of_legislation:F2017L00726:body:0:p8
Version: federal_register_of_legislation:F2017L00726
Segment Type: other
Provision Reference: 
Character Range: 20069–23071

the sub-fund.

Item 9                         Item 9 is a derived item. Report profit/loss before income tax in item 9 as the sum of investment income and gains/losses in item 3,  operating income in item 4 and net flows from insurance activities in item 8 minus investment expenses in item 5, administration expenses and operating expenses in item 6 and advice expenses in item 7.

Profit/loss before income tax  Represents total income less total expenses gross of any tax effects.

Item 10                      Report income tax expense/benefit in item 10.

Income tax expense/benefit   Represents income tax expense/benefit incurred, comprising the sum of current tax expense/income less tax benefits and tax expenses, and deferred tax expense/income. Includes: Capital gains tax on investment disposals, over/under provision for income tax in prior years to adjust prior year income tax provisions. Excludes: Contributions tax and contributions surcharge.

Item 11                       Item 11 is a derived item. Report profit/loss after income tax in item 11 as profit/loss before income tax in item 9 minus income tax expense/benefit in item 10.

Profit/loss after income tax  Represents total income less total expenses net of all tax effects.

Transfers of reserves

Item 12 and item 13 collect reserve movements that impact the net assets available to pay members' benefits of a sub-fund.

Item 12   Report transfers into reserves affecting net assets available to pay members' benefits in item 12. Excludes: members' benefits flows paid into the sub-fund already reported in item 1.

Transfers into reserves affecting net assets available to pay members' benefits  Represents the total value transferred into a reserve resulting in an increase in the net assets available to pay members' benefits. Includes: amounts transferred from the RSE licensee directly into a reserve held by the RSE.

Item 13                                                                            Report transfers out of reserves affecting net assets available to pay members' benefits in item 13. Excludes: members' benefits flows paid out of the sub-fund already reported in item 2.

Transfers out of reserves affecting net assets available to pay members' benefits  Represents the total value transferred out of a reserve that results in a decrease in the net assets available to pay members' benefits. Excludes: expenses where the source of payment, or portion thereof, was a reserve.

Change in net assets available to pay members' benefits

Item 14 collects the net change in assets available to pay members' benefits of a sub-fund.

Item 14                                        Item 14 is a derived item. Report change in net assets available to pay members' benefits in item 14 as the net of members' benefits flows in, in item 1 and members' benefits flows out in item 2, plus profit/loss after income tax in item 11 and transfers into reserves affecting net assets available to pay