Document ID: chunk:federal_register_of_legislation:F2023L00301:body:0:p13
Version: federal_register_of_legislation:F2023L00301
Segment Type: other
Provision Reference: 
Character Range: 35480–38557

the income / loss recognised by the reporting insurer where the equity method of accounting is adopted to account for the investment in an associate or joint venture as required by AASB 128 and AASB 11 respectively.

     2.5.               Total fees and commissions

This is the total value of any fee income or commission received by the reporting insurer.

      2.5.1.             Funds management

This is the value of any fee income or commission associated with funds management activities of the reporting insurer.

      2.5.2.             Underwriting policies

This is the value of any fee income or commission associated with underwriting for the relevant period. Do not include commission revenue that is associated with underwriting activities and is disclosed as commission revenue in the calculation of underwriting expenses in accordance with Australian Accounting Standard AASB 1023 General Insurance Contracts (AASB 1023).

      2.5.3.             Scrip lending

This is the value of any fee or commission income associated with scrip lending activities during the relevant period. This refers to the situation where the entity buys or borrows securities from another party in exchange for cash. The entity agrees to return the securities to the other party in the future in exchange for the return of the cash (plus an additional amount of earnings, fees or commissions).

      2.5.4.             Other

This is a balancing item and is the value of any other fee income or commission not otherwise specifically reported under Item 2.5.

This is automatically calculated as Item 2.5 less the sum of Items 2.5.1 to 2.5.3.

     2.6.               Total income from life insurance business

This is the value of income received in relation to life insurance business. This income includes fee and commission income derived from selling life insurance products, as determined in accordance with Australian Accounting Standards.

     2.7.               Total other operating income

This is a balancing item and is the value of all other operating income not specifically listed under Item 2.

It is automatically calculated as the sum of the 'Amount' Column in the corresponding table below.

Other operating income (please specify)

Individually specify the nature of other forms of operating income as reported in Item 2.7 as well as their corresponding amounts.

     2.8.               Total operating income

This is the value of operating income for the relevant period.

It is automatically calculated as the sum of Items 2.1, 2.2, 2.3, 2.4, 2.5, 2.6 and 2.7.

  3.     Operating expenses

Include expenses incurred (i.e. paid or payable) and recognised which are not ordinarily directly associated with the generation of investment income. Do not include underwriting expenses reported in GRF 310.0 Income Statement (GRF 310.0).

     3.1.               Total interest expense

This is automatically calculated as the sum of Items 3.1.1 to 3.1.4.

      3.1.1.             Borrowings

This is the value of interest expense