Document ID: chunk:federal_register_of_legislation:F2023L00717:body:0:p9
Version: federal_register_of_legislation:F2023L00717
Segment Type: other
Provision Reference: 
Character Range: 26760–33836

a payable balance is recognised or cash is paid directly without recognising a payable balance.                                                                                                                                                                                   Amounts relating to loans on policies (includes non-forfeiture loans) are to be reported in A2.5, A2.6 and A2.7.

                                                                                                                                                                                                                                                                                                               AASB 17 liabilities decrease if cash is paid. Note that a payable balance would be included in AASB 17 liabilities.
Item L2.4   Report maturity claims outflow including interim and terminal bonus – impact on VSA.                                                                  Item A2.4                                                                                                                                    Report maturity claims paid including interim and terminal bonus – impact on EFCF (non-PRP portion).

            This is (accrued) maturity claims outflow including interim and terminal bonus for participating business.                                                                                                                                                                                         This is maturity claims paid including interim and terminal bonus for participating business.

            For participating investment account benefits, report withdrawals at maturity as maturity claims outflow.                                                                                                                                                                                          For participating investment account benefits, report withdrawals at maturity as maturity claims paid.

            VSA decreases if a payable balance is recognised or cash is paid directly without recognising a payable balance.                                                                                                                                                                                   AASB 17 liabilities decrease if cash is paid. Note that a payable balance would be included in AASB 17 liabilities.
            Item A2.5                                                                                                                                             Report loans on policies issued – impact on EFCF (non-PRP portion).

                                                                                                                                                                  This is the amount of policy loans issued (includes non-forfeiture loans) during the reporting period.

                                                                                                                                                                  AASB 17 liabilities decrease if policyholders take out loans.
            Item A2.6                                                                                                                                             Report loans on policies repaid – impact on EFCF (non-PRP portion).

                                                                                                                                                                  This is the amount of policy loans repaid by policyholders (includes repayments of non-forfeiture loans) during the reporting period.

                                                                                                                                                                  AASB 17 liabilities increase if policyholders repay their loans.
            Item A2.7                                                                                                                                             Report other movements relating to loans on policies – impact on EFCF (non-PRP portion).

                                                                                                                                                                  This is any other movements relating to policy loans (includes non-forfeiture loans). This includes any interests accrued on policy loans.

                                                                                                                                                                  AASB 17 liabilities decrease if interests are accrued on policy loans.
Item L2.5   Report expenses outflow – impact on VSA.                                                                                                              Item A2.8                                                                                                                                    Report directly attributable expenses paid – impact on EFCF (non-PRP portion).

            This is (accrued) expenses (including commissions) relating to participating business. This excludes:                                                                                                                                                                                              This is directly attributable expenses paid relating to participating business. This excludes:

                * the expenses that are reflected in the VSA discount rate (reported in L3.2); and                                                                                                                                                                                                                 * the expenses that are reflected in the discount rate for AASB 17 liabilities (reported in A3.2);
                * the expenses that fall outside the VSA (reported in L4.2 and L4.3).                                                                                                                                                                                                                              * the expenses that relate to assets backing EFCF (PRP portion) (reported in A4.2); and
            Report gross of tax deduction on these expenses. The tax deduction is reported in L2.10.                                                                                                                                                                                                               * the expenses that are not directly attributable (reported in A4.3).
                                                                                                                                                                                                                                                                                                               Report gross of tax deduction on these expenses. The tax deduction is reported in A2.13.
            VSA decreases