Document ID: chunk:federal_register_of_legislation:F2023L00587:body:0:p7
Version: federal_register_of_legislation:F2023L00587
Segment Type: other
Provision Reference: 
Character Range: 16442–19393

* Australian business where they relate to an entity incorporated in Australia; and

    * International business where they relate to an entity incorporated outside of Australia. The entity should be included in the international region that most appropriately reflects the incorporation of the entity. The region can be selected to align to the region(s) chosen by the Level 2 insurance group for reporting insurance business carried on by an entity within the group that is not authorised under the Insurance Act 1973.

Columns for Level 2 insurance group

Column 1   Report the amount for Australian business.
Column 2   Report the amount for International business.
Column 3   Report the amount for Inter-region elimination.
Column 4   Column 4 total business, is a derived column and is calculated as the sum of column 1 to column 3.

Assets

 1.               Total cash and cash equivalents
Item 1    Item 1 total cash and cash equivalents is a derived item calculated as the sum of item 1.1 and item 1.2.

          Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.
Item 1.1  Report cash.

          Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.
Item 1.2  Report cash equivalents.

          Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.

2.                  Total receivables
Item 2    Item 2 total receivables is a derived item calculated as the sum of items 2.1 to 2.3 inclusive.

          Report this item in accordance with AASB 101.54 (h) Disclosure and AASB 101.78 (b) Disclosure.
Item 2.1  Report accrued income receivable.

          Report this item in accordance with AASB 101.78 (b) Common practice.
Item 2.2  Report prepayments.

          Report this item in accordance with AASB 101.78 (b) Example.
Item 2.3  Report other receivables.

          Report this item in accordance with AASB 101.78 (b) Example. Lessors report finance lease receivables at this item.

3.                  Current tax assets
Item 3   Report current tax assets.

         Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure.

4.                  Total deferred tax assets
Item 4     Item 4 total deferred tax assets is a derived item calculated as the sum of item 4.1 and item 4.2.

           Report this item in accordance with AASB 101.54 (o) Disclosure, AASB 112.5, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure.
Item 4.1   Report unused tax losses.

           Report this item in accordance with AASB 112.81 (g) Disclosure.

           Report this amount on an annual basis per that disclosed in the insurer's yearly statutory accounts. For the half yearly return (not the annual return), when the insurer does not have sufficient information to report a split, report this in item 4.2 Other deferred tax assets.
Item 4.2   Report other deferred tax assets.

           Report this item in accordance with