Document ID: chunk:federal_register_of_legislation:F2024L00075:reg:38:p18
Version: federal_register_of_legislation:F2024L00075
Segment Type: reg
Provision Reference: reg 38 (pt 18/76)
Character Range: 79564–85092

defined contribution member accounts        (142,293)
   Net change in defined benefit member benefits                         (580,138)
   Operating result before income tax expense                            (33,782)
   Income tax expense                                                    (38,470)
   Operating result after income tax                                     (72,252)

Note J – Other operating expenses  $000

Trustee fees                       (198)
Actuarial fees                     (272)
Audit fees                         (216)
Commissions paid directly          (123)
Advertising and sponsorship        (189)
Other operating expenses           (998)

Statement of Changes in Member Benefits for Hybrid Superannuation Plan
for the year ended 30 June 20XX

                                         DC member benefits  DB member benefits
                                                                                 Totals
                                         $000                $000                $000
   Opening balance                       2,185,275           6,555,825           8,741,100
   Employer contributions                127,355             349,814             477,169
   Member contributions                  17,717              93,153              110,870
   Transfers from other super entities   29,987              –                   29,987
   Transfers to other super entities     (40,737)            –                   (40,737)
 Income tax on contributions             (20,148)            (66,445)            (86,593)
 Net after tax contributions             114,174             376,522             490,696

   Benefits to members                   (187,093)           (561,278)           (748,371)
 Insurance premiums charged to members   (105)               (312)               (417)
 Death / disability benefits credited    1,233               3,699               4,932
   Reserve transfers to (from) members:
 Investment reserves                     1,239               –                   1,239
 Operational risk reserves               1,213               28                  1,241
 Net benefits allocated, comprising:
 Net investment income                    145,701
 Net administration fees                  (3,408)            142,293             –          142,293
 Net change in DB member benefits        –                   580,138             580,138
   Closing balance                       2,258,229           6,954,622           9,212,851

Statement of Changes in Reserves for Hybrid Superannuation Plan
for the year ended 30 June 20XX

                                              Operational risk  Unallocated
                                  Investment  Note C            surplus/ (deficiency)  Total
                                  Note E                                               equity
                                  $000        $000              $000                   $000
Opening balance                   4,219       27,136            22,671                 54,026
 Transfers to DC member accounts  (1,239)     (1,213)           –                      (2,452)
 Transfers to DB member accounts  –           (28)              –                      (28)
 Operating result                 –           –                 (72,252)               (72,252)
 Closing balance                  2,980       25,895            (49,581)               (20,706)

Statement of Cash Flows for Hybrid Superannuation Plan
for the year ended 30 June 20XX

                                                          $000
   Cash flows from operating activities
   Interest on cash deposits and debt securities          128,368
Dividends from Australian listed corporations             210,250
Distributions from international share trusts             12,981
   Insurance premiums                                     4,558
   Other income                                           1,295
   Administration expenses                                (11,289)
   Investment expenses                                    (26,560)
   Other expenses                                         (714)
   Income tax                                             (98,299)
   Net cash inflows (outflows) from operating activities  220,590

   Cash flows from investing activities
   Sales of shares in Australian listed corporations      601,110
   Sales of fixed interest securities                     128,908
   Sales of derivatives                                   4,219
   Sales of investment-linked insurance contracts         530,886
   Purchases of shares in Australian listed corporations  (842,316)
   Purchases of fixed interest securities                 (179,108)
   Net cash inflows (outflows) from investing activities  243,699

   Cash flows from financing activities
   Employer contributions                                 487,185
   Member contributions                                   110,870
   Transfers from other superannuation entities           29,428
   Transfers to other superannuation entities             (41,436)
   Benefit payments to members                            (769,353)
   Tax paid on contributions                              (89,224)
   Net cash inflows from financing activities             (272,530)

   Net increase in cash                                   191,759
   Cash at the beginning of the financial period          276,044
   Cash at the end of the financial period                467,803

Basis for Conclusions
This