Financial Performance 3 Expense Insurance Change In Life Insurance Contract Liabilities Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Change In Life Investment Contract Liabilities Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Change In Reinsurers Share Of Life Insurance Liabilities Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Change In Unvested Policyholder Benefits Liabilities Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Direct Claims Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Disclosure Of Net Claims Incurred Text For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Gross Movement In Unexpired Risk Liability Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Net Claims Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Net Movement In Unexpected Risk Liability Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Outward Reinsurance Premium Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Premiums Excluding Workers Compensation And Third Party Motor Vehicle Premiums Amount Insurance premiums refer to payments made for a legal contract in which an insurer promises to pay a specified amount to a party, the insured, if a particular event (known as a peril) happens and the insured suffers a financial loss as a result. The insured's part of the contract is to promise to pay an amount of money, known as a premium, either at once or at regular intervals. In order for an insurance contract to be valid, the insured must have an insurable interest. Excludes workers' compensation insurance premiums/costs and compulsory third party motor vehicle insurance premiums. Expense Insurance Reinsurance Recoveries On Unexpected Risk Liability Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Underwriting Acquisition Costs Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Underwriting Expenses Other Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Insurance Underwriting Expenses Total Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Prospective Claims Expense Current And Prior Years Direct Amount This will reflect the claim payments made in the current year plus any movement in the value of the outstanding claims provisions in relation to direct business. Expense Prospective Claims Expense Current And Prior Years Inwards Reinsurance Amount This will reflect the claim payments made in the current year plus any movement in the value of the outstanding claims provisions in relation to Inwards reinsurance business. Expense Prospective Claims Expense Due To Changes In Valuation Assumptions Or Model Underwriting Result Exclusive Gross Amount Disclose that component of gross claims expense which is due to changes in modeling assumptions applied to outstanding claims provision. Expense Prospective Claims Expense Due To Valuation Assumptions Changes Or Model Not Included In Underwriting Result Gross Amount Disclose that component of gross claims expense which is due to changes in modeling assumptions applied to outstanding claims provision. Expense Prospective Claims Expense Future Years Direct Amount This will reflect any movement in the value of Premium Liabilities in relation to direct business. Expense Prospective Claims Expense Future Years Inwards Reinsurance Amount This will reflect any movement in the value of Premium Liabilities in relation to inwards reinsurance business. Expense Prospective Incurred Claims Gross Total Amount Total of demands made against insurance policies. Expense Prospective Incurred Claims Net Amount Net claims is gross claims less recoveries revenue Expense Prospective Outwards Reinsurance Expense Current And Prior Years Amount For prospective accounting reporting recognise outwards reinsurance costs fully upfront as an expense, relating to cover that will be applicable for current and prior years. Do not defer and amortise in accordance with AASB 1023. Reinsurance expenses must be recognised on a basis that is consistent with the measurement of premiums liabilities as measured in accordance with GPS 310 Audit and Actuarial Reporting and Valuation. Recognition of outwards reinsurance expenses will vary according to the type of reinsurance contract: * Proportional reinsurance (treaty) and all facultative: Premium ceded to the reinsurer(s) is recognised as an expense by the direct insurer on the date of acceptance (date bound) of the underlying insurance contract by the direct insurer. * Excess of loss reinsurance (treaty): The recognition of outwards reinsurance expense depends on the basis of the cover being either on a 'losses occurring during the period of reinsurance' basis or 'risks attaching during the period of reinsurance'. * Loss occurring during the period of reinsurance: The majority of excess of loss and catastrophe reinsurance is based on a 'losses occurring during the period of reinsurance' basis. Thus, the reinsurance will provide cover for risks that have been accepted in the prior period and to risks that are accepted and attach in the current period of the reinsurance contract. In the case where the risk profile of the insurer is evenly distributed throughout the year, an insurer must recognise 50 per cent of the excess of loss reinsurance expense in the current period. The reinsurance expense for the remaining 50 per cent is to be recognised at the mid point of the period for the reinsurance cover. Where the risk profile of the insurer is not evenly distributed throughout the year, with material peaks and troughs throughout the year, the insurer will need to recognise the apportionment of the reinsurance expense on the same business pattern as their risk portfolio. For seasonal insurers, with all policies incepting on the one date, all reinsurance expense will need to be recognised from the date of acceptance by the reinsurer of the reinsurance contract. * Risk attaching during the period of reinsurance: For these reinsurance contracts, the full amount of the excess of loss reinsurance expense is to be recognised from the date of acceptance of the reinsurance by the reinsurer. The minimum and deposit premium for the full period of the reinsurance that is payable to the reinsurer is to be recognised. Where payments under a reinsurance contract extend beyond the current year of cover, reinsurance expense is to be discounted using similar discount rates as required in measuring insurance liabilities in accordance with GPS 310 Audit and Actuarial Reporting and Valuation. Reinsurance expense is not to be recognised in accordance with the pattern of reinsurance service received as required by AASB 1023 'General Insurance Contracts'. Expense Prospective Outwards Reinsurance Expense Future Years Amount For prospective accounting reporting recognise outwards reinsurance costs fully upfront as an expense, relating to cover that will be applicable for future years. Do not defer and amortise in accordance with AASB 1023. Reinsurance expenses must be recognised on a basis that is consistent with the measurement of premiums liabilities as measured in accordance with GPS 310 Audit and Actuarial Reporting and Valuation. Recognition of outwards reinsurance expenses will vary according to the type of reinsurance contract: * Proportional reinsurance (treaty) and all facultative: Premium ceded to the reinsurer(s) is recognised as an expense by the direct insurer on the date of acceptance (date bound) of the underlying insurance contract by the direct insurer. * Excess of loss reinsurance (treaty): The recognition of outwards reinsurance expense depends on the basis of the cover being either on a 'losses occurring during the period of reinsurance' basis or 'risks attaching during the period of reinsurance'. * Loss occurring during the period of reinsurance: The majority of excess of loss and catastrophe reinsurance is based on a 'losses occurring during the period of reinsurance' basis. Thus, the reinsurance will provide cover for risks that have been accepted in the prior period and to risks that are accepted and attach in the current period of the reinsurance contract. In the case where the risk profile of the insurer is evenly distributed throughout the year, an insurer must recognise 50 per cent of the excess of loss reinsurance expense in the current period. The reinsurance expense for the remaining 50 per cent is to be recognised at the mid point of the period for the reinsurance cover. Where the risk profile of the insurer is not evenly distributed throughout the year, with material peaks and troughs throughout the year, the insurer will need to recognise the apportionment of the reinsurance expense on the same business pattern as their risk portfolio. For seasonal insurers, with all policies incepting on the one date, all reinsurance expense will need to be recognised from the date of acceptance by the reinsurer of the reinsurance contract. * Risk attaching during the period of reinsurance: For these reinsurance contracts, the full amount of the excess of loss reinsurance expense is to be recognised from the date of acceptance of the reinsurance by the reinsurer. The minimum and deposit premium for the full period of the reinsurance that is payable to the reinsurer is to be recognised. Where payments under a reinsurance contract extend beyond the current year of cover, reinsurance expense is to be discounted using similar discount rates as required in measuring insurance liabilities in accordance with GPS 310 Audit and Actuarial Reporting and Valuation. Reinsurance expense is not to be recognised in accordance with the pattern of reinsurance service received as required by AASB 1023 'General Insurance Contracts'. Expense Prospective Underwriting Acquisition Costs Amount Report all Acquisition Costs as recognised under AASB 1023 incurred during the reporting period, i.e. these should not be deferred and recognised as assets. Acquisition costs are incurred in obtaining and recording general insurance contracts. They include commission or brokerage paid to agent or brokers for obtaining business for the insurer, selling and underwriting costs such as advertising and risk assessment, the administrative costs of recording policy information and premium collection costs. Expense Prospective Underwriting Other Amount This is a balancing item within the list in which it is being used Expense Prospective Underwriting Total Amount This is a subtotal item within the list in which it is being used Income Insurance Inwards Reinsurance Premium Revenue Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Insurance Premium Revenue Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Insurance Reinsurance And Recoveries Other Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Prospective Commission Amount This item should be recognised upfront and includes commission revenue related to the insurance business. Do not include 'premium rebates' received from reinsurers. For regulatory reporting recognise fully from date of acceptance of risk. Do not defer and amortise in accordance with AASB 1023. Income Prospective Premium Revenue Gross Direct Amount Report the amount of premium revenue derived from direct business It is important to consider the accounting treatment underlying the recognition of Premium Liabilities comparative to that for unearned premium provision, specifically the profit and loss treatment. The earned/unearned basis for recognition of premium revenue prescribed by AASB 1023 is not consistent with the prospective accounting framework for measuring insurance liabilities. The objective of the measurement of Premium Liabilities is to recognise potential future claim liabilities arising out of new insurance business written (on a prospective basis). * Fully recognise premium revenue from date of acceptance of policy. Do not defer and amortise in accordance with AASB 1023. Premium revenue must be recognised on a basis that is consistent with the measurement of premiums liabilities as measured in accordance with GPS 310 Audit and Actuarial Reporting and Valuation. * Premium revenue includes the value of future premium receipts under existing insurance contracts through to the end of the period of insurance. * Premium revenue must be discounted where it is to be received beyond the current year of cover under an insurance/reinsurance contract. In these cases, use the discount rate as required in calculating insurance liabilities in accordance with GPS 310 Audit and Actuarial Reporting and Valuation. * Premium revenue excludes amounts collected on behalf of third parties i.e. government stamp duty and taxes. * Levies charged to insured, such as fire service levies, are to be included as premium revenue. * Premium refunds and rebates are to be deducted from premium revenue. * For installment premium policies, the amount of the annualised premium is to be used. * Where premium is calculated on an adjustment basis, the estimated annual premium is to be brought to account, with the estimated premium being replaced by the actual amount as it becomes known. * Where premium is accepted on a deposit basis, the full annual premium is to be brought into account. * Premium revenue must be gross of reinsurance expense. * Premium revenue includes premium receivable on unclosed business. This includes the business which has been accepted by the insurer/reinsurer prior to the balance date but there is insufficient information to fully identify the business. * Premium revenue relating to insurance/reinsurance contracts written on a long-term basis: * where the insurer/reinsurer accepting the risk has the option to cancel the contract at pre-agreed dates, premium revenue is to be recognised from the date of acceptance up to the next possible cancellation date. * where the insurer/reinsurer accepting the risk does not have the option to cancel the contract at pre-agreed dates, the full premium for the long-term insurance/reinsurance contract is to be recognised from the date of acceptance. Income Prospective Premium Revenue Gross Inwards Reinsurance Amount Report the amount of premium revenue derived from inwards reinsurance business It is important to consider the accounting treatment underlying the recognition of Premium Liabilities comparative to that for unearned premium provision, specifically the profit and loss treatment. The earned/unearned basis for recognition of premium revenue prescribed by AASB 1023 is not consistent with the prospective accounting framework for measuring insurance liabilities. The objective of the measurement of Premium Liabilities is to recognise potential future claim liabilities arising out of new insurance business written (on a prospective basis). * Fully recognise premium revenue from date of acceptance of policy. Do not defer and amortise in accordance with AASB 1023. Premium revenue must be recognised on a basis that is consistent with the measurement of premiums liabilities as measured in accordance with GPS 310 Audit and Actuarial Reporting and Valuation. * Premium revenue includes the value of future premium receipts under existing insurance contracts through to the end of the period of insurance. * Premium revenue must be discounted where it is to be received beyond the current year of cover under an insurance/reinsurance contract. In these cases, use the discount rate as required in calculating insurance liabilities in accordance with GPS 310 Audit and Actuarial Reporting and Valuation. * Premium revenue excludes amounts collected on behalf of third parties i.e. government stamp duty and taxes. * Levies charged to insured, such as fire service levies, are to be included as premium revenue. * Premium refunds and rebates are to be deducted from premium revenue. * For installment premium policies, the amount of the annualised premium is to be used. * Where premium is calculated on an adjustment basis, the estimated annual premium is to be brought to account, with the estimated premium being replaced by the actual amount as it becomes known. * Where premium is accepted on a deposit basis, the full annual premium is to be brought into account. * Premium revenue must be gross of reinsurance expense. * Premium revenue includes premium receivable on unclosed business. This includes the business which has been accepted by the insurer/reinsurer prior to the balance date but there is insufficient information to fully identify the business. * Premium revenue relating to insurance/reinsurance contracts written on a long-term basis: * where the insurer/reinsurer accepting the risk has the option to cancel the contract at pre-agreed dates, premium revenue is to be recognised from the date of acceptance up to the next possible cancellation date. * where the insurer/reinsurer accepting the risk does not have the option to cancel the contract at pre-agreed dates, the full premium for the long-term insurance/reinsurance contract is to be recognised from the date of acceptance. Income Prospective Premium Revenue Gross Total Amount Represents Total Gross Premium revenue. Income Prospective Premium Revenue Net Amount Represents Premium revenue less Outwards reinsurance expense. Income Prospective Recoveries Other Amount This is a balancing item within the list in which it is being used Income Prospective Recoveries Reinsurance Current And Prior Years Amount This is revenue from reinsurance recoveries on direct business and inwards reinsurance business. The amount of recoveries received or receivable associated with claims for current and prior years are also included. Income Prospective Recoveries Reinsurance Future Years Amount This is revenue from reinsurance recoveries on direct business and inwards reinsurance business. In relation to future years, this will reflect any movement in the value of expected reinsurance recoveries that are associated with insurance liabilities recognised in the measurement of Premium Liabilities. Income Prospective Recoveries Reinsurance Total Amount This is the sum of revenue from reinsurance recoveries on direct business and inwards reinsurance business. In relation to future years, this will reflect any movement in the value of expected reinsurance recoveries that are associated with insurance liabilities recognised in the measurement of Premium Liabilities. The amount of recoveries received or receivable associated with claims for current and prior years are also included. Income Prospective Recoveries Total Amount This is the revenue from all recoveries in respect of claims. Where appropriate, other recoveries revenue is to be reported net of the reinsurer's share of other recoveries revenue. It includes any movement in the value of expected reinsurance recoveries in relation to future years. It also includes the amount of recoveries received or receivable associated with claims for current and prior years. Insurance Expense Premium Members Death Disability Gross Amount Represents members' total death and or disability insurance premiums paid or payable during the reporting period. Insurance Expense Premium Members Death Disabilty Net Amount Represents members' total death and/or disability insurance premiums paid or payable during the reporting period less any rebates received in respect of those premiums. Insurance Proceeds Death Amount These are the proceeds received/receivable from the insurer for the reporting period in relation to the death of a member. Insurance Proceeds Disability Amount Report proceeds received/receivable from the insurer and/or accrued in relation to disability of members, including amounts for total and permanent disability and temporary disability/income protection. Insurance Proceeds Total Amount Total proceeds of insurance policies over members. Insurance Rebate Premium Members Death Disabilty Amount Represents any rebates received/receivable from insurers in relation to members' total death and/or disability insurance premiums paid or payable during the reporting period. Profit Or Loss Insurance Underwriting Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Profit Or Loss Prospective After Income Tax Attributable To Company Members Net Amount This is the net profit or loss after tax, calculated in accordance with prospective accounting principles; excluding that which is attributable to the minority interests Profit Or Loss Prospective Continuing Operations After Tax Amount The net profit or loss of an entity after income tax, for the purposes of prudential reporting using prospective accounting basis. Profit Or Loss Prospective Continuing Operations Before Tax Amount The profit or loss of an entity before income tax, for the purposes of prudential reporting using prospective accounting basis. Profit Or Loss Prospective Underwriting Result Amount Underwriting results is the Net Premium Revenue less Claims and Direct Underwriting expenses. Profit Or Loss Unrealised Deposits Placements Loans Securities Amount Report unrealised gains/losses associated with the entity's holdings of deposits, placements, loans and debt securities. Exclude * Gains and losses associated with the investment in cash management trusts; and * Gains/losses on interest rate related derivative financial instruments. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Derivatives Amount Report unrealised gains/losses attributable to the movement in net market value of the entity's derivative exposures. Exclude Unrealised or realised gains/losses relating to the currency translation of foreign currency derivative contracts. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Equity And Unit Trusts Listed Amount This includes unrealised gains/losses on the entity's investment in equity securities and unit trusts that are listed on recognised stock exchanges (e.g. The Australian Securities Exchange). Exclude * Gains/losses on equity related derivative contracts; and * Gains/losses on direct investments in Pooled Super Trusts. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Equity And Unit Trusts Unlisted And Ventures Amount This includes unrealised gains/losses on the entity's investment in equity securities and unit trusts that are not listed on recognised stock exchanges (e.g. The Australian Securities Exchange). Exclude * Gains/losses on equity related derivative contracts; and * Gains/losses on direct investments in Pooled Super Trusts. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Gains Or Losses On Investments Total Amount Report total unrealised gains/losses associated with the entity's investments. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Individually Managed Mandates Amount Report unrealised gains/losses on funds placed with external investment managers in the form of individually managed mandates or discretely managed portfolios where the asset portfolio is tailored for or chosen by the entity. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Insurance Policies Amount Report unrealised gains/losses associated with the investments in insurance or life policies. Include: * The change in net market value of unit-linked insurance or investment policies; and * The change in net market value of policies in respect of death, total, permanent or temporary disablement. Important! If the superannuation entity invests in statutory funds of a life insurer and does not know the realised gains and losses, the superannuation entity should only account for the total change in net market value. APRA will accept an estimate to be used to calculate realised and unrealised gains and losses on a pro rata basis. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Investments In Unlisted Trusts Amount Report unrealised gains/losses associated with the investments in unlisted retail/public offer unit trusts, including cash management unit trusts, but excluding private unit trusts and wholdesale trusts. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Other Total Amount This is a balancing item within the list in which it is being used Profit Or Loss Unrealised Other Amount This is the amount of the detailed line items within the balancing item within the list in which it is being used Profit Or Loss Unrealised Overseas Investment Managers Amount Report unrealised gains and losses in the value of investments placed by the entity with overseas investment managers. Exclude * Amounts directly invested overseas by the entity in underlying assets such as equity securities, bonds and direct property; and * Amounts placed with Australian investment managers for investment overseas. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Pooled Super Trusts Amount Report unrealised gains/losses associated with the superannuation entity's investments in pooled super trusts. Exclude unitised investments with life companies where the original or primary investment is an insurance or investment policy. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Property Amount Report unrealised gains/losses associated with the entity's investment in property assets. Exclude Do not include gains/losses on investments in: * Listed property trusts; * Unlisted private property unit trusts; and * Unlisted public offer/retail property trusts. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar. Profit Or Loss Unrealised Wholesale Trusts Amount A wholesale trust is usually only open to institutional investors and has a high entry level. An information memorandum is usually issued rather than a prospectus. Report unrealised gains/losses associated with the investments in wholesale trusts, other than: * Pooled Super Trusts * listed unit trusts or unlisted retail/public offer trusts; and * unitised investments with life companies where the original or primary investment is an insurance or investment policy. Unrealised gains/losses The change in the net market value is the increase or decrease in the market value of each asset compared to the value of that asset at the beginning of the reporting period. These assets are still owned by the entity at the end of the period, they have not been disposed of, and as a result, the gains or losses on the assets are unrealised. If the assets are disposed of during the period, then the gains or losses are realised. Only include the movement in the net market value of the asset. Do not include the movement in the value of the currency relative to the Australian dollar if the asset is denominated in a currency other than the Australian dollar.