ExclusionsExclusions

Exclusions

Exclude the following items from ARF 115.0:

income and expenses from insurance or reinsurance businesses;

premiums paid and reimbursements/payments received from insurance or reinsurance policies purchased;
administrative expenses, including staff expenses, outsourcing fees paid for the supply of non-financial services (e.g. logistical, information technology, or human resources services) and other administrative expenses (e.g. expenses related to information technology, utilities, telephone, travel, office supplies, or postage);
recovery of administrative expenses including recovery of payments on behalf of customers (e.g. taxes debited to customers);
expenses of premises and fixed assets, except when these expenses result from operational loss events;
depreciation/amortisation of tangible and intangible assets, except depreciation/amortisation related to lease assets, which should be included in finance and operating lease expenses;
provisions or reversal of provisions (e.g. on pensions, or commitments and guarantees given), except provisions related to operational loss events;
expenses due to share capital repayable on demand;
impairment or reversal of impairment (e.g. on financial assets, non-financial assets, investments in subsidiaries, or joint ventures and associates);
changes in goodwill recognised in profit or loss; or
corporate income tax (tax based on profits including current tax and deferred tax).