Statement of Comprehensive Income

Australian Taxation Office STATEMENT OF COMPREHENSIVE INCOME for the period ended 30 June 2016

 

Note

2016
$'000

2015
$'000

Original Budget
$'000

NET COST OF SERVICES

Expenses

Employee benefits

1.1A

1,864,724

2,024,395

1,984,560

Suppliers

1.1B

1,433,208

1,199,121

1,296,846

Depreciation and amortisation

3.2A

156,015

174,195

160,612

Finance costs

1.1C

973

981

-

Write-down and impairment of assets

1.1D

5,242

2,735

-

Other expenses

1.1E

295

1,484

-

Total expenses

3,460,457

3,402,911

3,442,018

 

Own-Source Income

Own-source revenue

Rendering of services

1.2A

88,800

89,058

126,934

Rental income

1.2B

16,581

7,682

-

Other revenue

1.2C

3,676

4,532

5,550

Total own-source revenue

109,057

101,272

132,484

 

Gains

Other gains

1.2D

17

2,053

-

Total gains

17

2,053

-

Total own-source income

109,074

103,325

132,484

 

Net (cost of) services

(3,351,383)

(3,299,586)

(3,309,534)

 

Revenue from Government

1.2E

3,189,658

3,215,199

3,148,922

(Deficit) before income tax on continuing operations

(161,725)

(84,387)

(160,612)

 

(Deficit) attributed to the Australian Government

(161,725)

(84,387)

(160,612)

 

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

Revaluation of restoration obligations provision

(546)

(490)

-

Other changes in asset revaluation reserves

6,923

8,102

-

Total other comprehensive income

6,377

7,612

-

 

Total comprehensive (loss)

(155,348)

(76,775)

(160,612)

Total comprehensive (loss) attributable to the Australian Government

(155,348)

(76,775)

(160,612)

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

Australian Taxation Office STATEMENT OF COMPREHENSIVE INCOME for the period ended 30 June 2016

Budget Variances Commentary: Statement of Comprehensive Income

Affected line items

Explanation of major variances

Employee benefits

Following the implementation of the workforce reduction announced at the 2014-15 Budget, there were unexpected delays in recruiting additional staff at reduced classification levels. As a consequence, the 2015-16 actual employee expenses were lower than budgeted.

Suppliers

Changes in staffing levels and delays in recruitment has led to a higher than expected utilisation of contractors to implement critical IT projects and an increase in outsourcing of Service Delivery activities to ensure the delivery of the ATO’s outcomes. As a result, supplier expenses were higher than budgeted.

Own-source revenue

Actual revenue for Rendering of services was less than budget primarily due to a reduction in the use of credit cards that attract a higher surcharge, resulting in lower than expected credit card surcharge fees paid back to the ATO from the Reserve Bank of Australia. This decrease in revenue is offset by a corresponding decrease in credit card merchant fees included in supplier expenses. Rental income was originally incorporated into the Rendering of services estimate, but this is now reported as a separate line item.

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