Document ID: chunk:federal_register_of_legislation:F2023L00641:body:0:p17
Version: federal_register_of_legislation:F2023L00641
Segment Type: other
Provision Reference: 
Character Range: 61029–66916

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 current reporting period.

Retained earnings at the end of the reporting period                                                     For non-category C insurers, this is calculated as the sum of:

                                                                                                             * retained earnings at the beginning of the reporting period;
                                                                                                             * profit (loss) after income tax attributable to members of the company;
                                                                                                             * adjustments to retained earnings due to changes in accounting policies / standards;
                                                                                                             * amounts transferred to / from reserve;
                                                                                                             * dividends declared or paid; and
                                                                                                             * other retained earnings movements.

                                                                                                         For category C insurers, this is calculated as the sum of:

                                                                                                             * retained earnings at the beginning of the reporting period;
                                                                                                             * profit (loss) after income tax attributable to members of the company;
                                                                                                             * adjustments to retained earnings due to changes in accounting policies / standards;
                                                                                                             * amounts transferred to / from reserves;
                                                                                                             * aggregate of amounts transferred from parent entity;
                                                                                                             * aggregate of amounts transferred to parent entity;
                                                                                                             * head office transfers 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 insurer 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