Document ID: chunk:federal_register_of_legislation:F2023L00639:body:0:p7
Version: federal_register_of_legislation:F2023L00639
Segment Type: other
Provision Reference: 
Character Range: 17982–21026

benefits from Insurance Risk Charge;

                                         Less:

                                                * tax benefits aggregation reduction.

                                         Tax benefits must only be recognised to the extent that tax legislation allows them to be absorbed by existing deferred tax liabilities.

Tax benefits from Asset Risk Charge      This represents the tax benefits from the Asset Risk Charge resulting from scenarios modelled by the stress tests in HPS 114, reduced to allow for the reduction in Asset Risk Charge due to the asset risk aggregation formula. Tax benefits from Asset Risk Charge must be determined in accordance with HPS 110.

Tax benefits from Insurance Risk Charge  This represents the tax benefits from the Insurance Risk Charge resulting from losses in the Insurance Risk Charge in HPS 115. Tax benefits from Insurance Risk Charge must be determined in accordance with HPS 110.

Tax benefits aggregation reduction       Overall tax benefits are to be reduced to allow for aggregation between the Asset Risk Charge and Insurance Risk Charge. Tax benefits from aggregation reduction must be determined in accordance with HPS 110.

Specific Instructions

Table 1: Prescribed Capital Amount (HBF, GF)

Reporting basis

Report information related to each fund's prescribed capital amount. This table applies to health benefits funds and the general fund.

Units of measurement

Report the dollar values in this table in whole Australian dollars.

Column 1  Report the value for each of the items listed below.

 1.  Insurance Risk Charge
 Item 1      The Insurance Risk Charge is a derived item and is calculated as the sum of items 1.1, 1.2 and 1.3.

 Item 1.1    The Insurance Liability Risk Charge is a derived item and is calculated as the sum of items 1.1.1 and 1.1.4.

 Item 1.1.1  Report the Outstanding Claims Liabilities Risk Charge.

 Item 1.1.2  Report the Premiums Liabilities Risk Charge.

 Item 1.1.3  Report the Risk Equalisation Risk Charge.

 Item 1.1.4  Report the Other Insurance Liabilities Risk Charge.

 Item 1.2    The Future Exposure Risk Charge is a derived item and is calculated as the sum of items 1.2.1 and 1.2.2.

 Item 1.2.1  Report the Future Exposure Risk Charge (HIB).

 Item 1.2.2  Report the Future Exposure Risk Charge (HRIB).

 Item 1.3    Report the Deferred Claims Liability Risk Charge.

2.     Asset Risk Charge
 Item 2    Report the Asset Risk Charge.

 Item 2.1  Report the Asset Risk Charge - aggregated risk charge component.

 Item 2.2  Report the Asset Risk Charge - impact of diversification.

3.     Asset Concentration Risk Charge
 Item 3  Report the Asset Concentration Risk Charge.

4.     Operational risk charge
 Item 4  Report the Operational Risk Charge.

5.     Aggregation benefit
 Item 5  Report the aggregation benefit.
         An aggregation benefit which would result in a decrease to the prescribed capital amount should be reported as a positive value.

6.     Tax benefits
 Item 6