Document ID: chunk:federal_register_of_legislation:F2023L00706:body:0:p16
Version: federal_register_of_legislation:F2023L00706
Segment Type: other
Provision Reference: 
Character Range: 54091–59174

equity-settled share-based payments                                                        This is the value of reserves from equity-settled share-based payments granted to employees as part of their remuneration package that meets the requirements of GPS 112.

Retained earnings                                                                                        This is the value, as at the end of the reporting period, of retained earnings. Do not include the amount of undistributed current year earnings.

Retained earnings at the beginning of the reporting period                                               This is the value of retained earnings at the beginning of the reporting period.

Retained earnings at the end of the reporting period                                                     This is calculated as the sum of:

                                                                                                             * retained earnings at the beginning of the reporting period;
                                                                                                             * profit (loss) from continuing and discontinued operations attributable to owners of the parent;
                                                                                                             * adjustments to retained earnings due to changes in accounting policies / standards;
                                                                                                             * reduction in retained earnings on share buy back;
                                                                                                             * amounts transferred to / from reserves;
                                                                                                             * dividends declared or paid; and
                                                                                                             * other retained earnings movements.

Reversal of tax impact of payables                                                                       This is the amount related to the reversal of tax effect of the payables items:

                                                                                                             * claims payable;
                                                                                                             * amounts payable on reinsurance contracts held; and
                                                                                                             * other accounts payable on insurance contracts issued.

                                                                                                         Full tax benefits and liabilities must be assumed for the purposes of reporting this item but they must be included when assessing the adjustment for excess of deferred tax assets over deferred tax liabilities.

Reversal of tax impact of receivables                                                                    This is the amount related to the reversal of tax effect of the receivable items:

                                                                                                             * premiums receivable;
                                                                                                             * amounts receivable on reinsurance contracts held;
                                                                                                             * non-reinsurance recoveries receivable; and
                                                                                                             * other accounts receivable on insurance contracts issued.

                                                                                                         Full tax benefits and liabilities must be assumed for the purposes of reporting this item but they must be included when assessing the adjustment for excess of deferred tax assets over deferred tax liabilities.

S

Surplus in defined benefit superannuation fund  This is the amount of surplus (if any) in defined benefit superannuation funds where the reporting Level 2 insurance group is an employer-sponsor, net of any associated deferred tax liabilities that would be extinguished if the assets involved become impaired or derecognised under Australian Accounting Standards. Where the extinguished deferred tax liability of the defined benefit superannuation fund exceeds the reported surplus, report this value as zero.

                                                Representations may be made to APRA to include the surplus in the capital base provided the criteria are met as per GPS 112.

T

Tax effect of net OCL and PL surplus / (deficit)  This is the tax effect of the technical provisions in surplus (positive figure) or deficit (negative figure) of those required under GPS 340.

                                                  Full tax benefits and liabilities must be assumed