Administered Reconciliation Schedule

Australian Taxation Office ADMINISTERED RECONCILIATION SCHEDULE for the period ended 30 June 2016

 

2016
$'m

2015
$'m

Opening assets less liabilities as at 1 July

20,326

22,334

Adjustments to equity

FTB Equity Transfer

52

36

HELP Equity Transfer

85

62

SFSS Equity Transfer

1

10

Net (cost of)/contribution by services

Income1

350,269

340,716

Expenses1

(15,550)

(16,128)

Transfers (to)/from Australian Government

Appropriation transfers from Official Public Account

Annual appropriations

-

-

Special appropriations (unlimited)

102,177

99,898

Appropriation Transfers to OPA

Transfers to OPA

(434,922)

(426,602)

Closing assets less liabilities as at 30 June

22,438

20,326

  1. Prior year adjustments have been made to these amounts. Please refer to Overview.

Accounting Policy

Administered Cash Transfers to and from the Official Public Account

Revenue collected by the ATO for use by the Government rather than the ATO is administered revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of Government. These transfers to and from the OPA are adjustments to the administered cash held by the ATO on behalf of the Government and reported as such in the schedule of administered cash flows and in the administered reconciliation schedule.

The above statement should be read in conjunction with the accompanying notes