Document ID: chunk:federal_register_of_legislation:F2023L00717:body:0:p13
Version: federal_register_of_legislation:F2023L00717
Segment Type: other
Provision Reference: 
Character Range: 47450–51271

discount rate under the VSA led method.                                                          This applies if tax due to A3.1 and A3.2 are reflected when setting the discount rate under AASB 17. Otherwise, report nil under this item.

           VSA decreases if a tax payable / deferred tax liability balance is recognised or cash is paid directly without recognising a tax payable balance.             AASB 17 liabilities decrease if a tax payable / deferred tax liability balance is recognised or cash is paid directly without recognising a tax payable balance.

4. Components that impact retained profits

Item L4.1  Report investment earnings and FX – impact on Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).                                                                                                                                               Item A4.1  Report insurance finance income / expense and effects of movements in FX – impact on EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par).

           This is actual allocated investment earnings (includes realised and unrealised gains and losses) and FX on assets supporting Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).                                                                           This is actual allocated investment earnings (includes realised and unrealised gains and losses) and FX on assets supporting EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par).

           This must be reported gross of L4.2 and L4.4 (i.e. FUM expenses and tax).                                                                                                                                                                                           This must be reported gross of A4.2 and A4.4 (i.e. FUM expenses and tax).

           Positive investment earnings / FX gains increase Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).                                                                                                                                                       Positive investment earnings / FX gains increase EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par).
Item L4.2  Report FUM expenses – impact on Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).                                                                                                                                                             Item A4.2  Report FUM expenses – impact on EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par).

           This is actual allocated FUM expenses on assets supporting Life Act PRP, Life Act SRPP and Life Act SRP (overseas par).                                                                                                                                             This is actual allocated FUM expenses on assets supporting 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), 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 L4.3  Report other expenses 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