Statement of Changes in Equity

Australian Taxation Office STATEMENT OF CHANGES IN EQUITY for the period ended 30 June 2016

 

Contributed Equity

Asset Revaluation Surplus

Retained Earnings

Total Equity

 

2016
$'000

2015
$'000

Original Budget
$'000

2016
$'000

2015
$'000

Original Budget
$'000

2016
$'000

2015
$'000

Original Budget
$'000

2016
$'000

2015
$'000

Original Budget
$'000

Opening balance

Balance carried forward from previous period

1,086,297

979,993

1,140,203

109,165

101,553

101,553

(975,536)

(886,051)

(1,003,240)

219,926

195,495

238,516

Prior year adjustments1

-

-

-

-

-

-

16,668

-

-

16,668

-

-

Adjusted opening balance

1,086,297

979,993

1,140,203

109,165

101,553

101,553

(958,868)

(886,051)

(1,003,240)

236,594

195,495

238,516

 

Comprehensive income

Other comprehensive income

-

-

-

6,377

7,612

-

-

-

-

6,377

7,612

-

(Deficit) for the period

-

-

-

-

-

-

(161,725)

(84,387)

(160,612)

(161,725)

(84,387)

(160,612)

Total comprehensive income

-

-

-

6,377

7,612

-

(161,725)

(84,387)

(160,612)

(155,348)

(76,775)

(160,612)

 

Transactions with owners

Distributions to owners

Returns of capital

Returns of contributed equity2

(56,950)

(54,028)

-

-

-

-

-

-

(5,098)

(56,950)

(59,126)

-

Contributions by owners

Equity injection - appropriations

142,486

26,537

68,461

-

-

-

-

-

-

142,486

26,537

68,461

Departmental capital budget

115,128

133,795

109,638

-

-

-

-

-

-

115,128

133,795

109,638

Total transactions with owners

200,664

106,304

178,099

-

-

-

-

(5,098)

-

200,664

101,206

178,099

 

Closing balance as at 30 June 2016

1,286,961

1,086,297

1,318,302

115,542

109,165

101,553

(1,120,593)

(975,536)

(1,163,852)

281,910

219,926

256,003

  1. Prior year adjustment relates to the recovery of legal costs transferred from historical balances on administered business systems.

  2. Returns of contributed equity relate to amounts withheld through a movement of funds or s.51 determination and represent a loss of control to the ATO. These amounts are not legal reductions and are therefore still included in Note 5.1B Unspent Annual Appropriations.

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

Australian Taxation Office STATEMENT OF CHANGES IN EQUITY for the period ended 30 June 2016

Accounting Policy

Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and Departmental Capital Budgets (DCBs) are recognised directly in contributed equity in that year.

Budget Variances Commentary: Statement of Changes in Equity

Affected line items

Explanation of major variances

Contributed Equity

The budgeted Contributed Equity balance brought forward from previous period did not account for the subsequent appropriation reduction associated with the repeal of a number of measures announced and recognised in prior years.

Equity injection - appropriations

The budgeted Equity injections did not account for the additional funding associated with Government measures announced during MYEFO 2015-16.

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