Energy Regulation and Government Prices Oversight

The staff of the Office of the Government Prices Oversight Commission and the Tasmanian Energy Regulator support the Commissioner and the Regulator in exercising their statutory functions which include the regulation of the electricity and gas industries and the conduct of independent pricing reviews and consultancies on behalf of Government.

Intergovernment and Financial Policy

The Intergovernment and Financial Policy Branch provides policy advice on State taxation, Government superannuation arrangements, gaming, licensing and intergovernmental financial relation issues; prepares and monitors tax revenue estimates and Australian Government general-purpose payments; provides support to the Tasmanian Community Fund; and oversees regulatory and structural reforms for Tasmania's water and sewerage sector.

Revenue

The Revenue Branch is responsible for the fair and transparent administration of Tasmanian taxation and collects revenue in the form of duties, payroll tax and land tax. The Branch also administers a number of grants, subsidies and rebate schemes, provides advice on matters related to State taxation, ensures that all taxpayers pay the correct amount of tax and takes action to recover money owed to the State, when necessary.

Liquor and Gaming

The Liquor and Gaming Branch develops and maintains a regulatory and compliance framework for the sale and service of liquor in Tasmania in accordance with community expectations; and develops and maintains the regulatory and compliance framework that ensures the integrity of the gaming industry in Tasmania, in accordance with community expectations.

Output performance
2007–08

Budget development and management

(Budget Output 1.1)

Delivery of the 2008-09 State Budget

On 12 June 2008 the Treasurer, the Hon Michael Aird MLC, delivered the 2008–09 State Budget. For the first time the annual Tasmanian Budget exceeded 4 billion dollars. The Budget introduced a range of important initiatives to drive jobs growth, increase literacy levels, support those most in need in the community and to meet challenges of climate change, urban renewal and demographic change.

Major reform to the Budget Papers

Significant revision to the structure and content of the 2008–09 Budget Papers numbers 1 and 2 was undertaken during 2007–08. The revision was necessary to meet the requirements of the Australian Accounting Standards Board's new standard, AASB 1049 Whole of Government and General Government Sector Financial Reporting, and to improve the focus, consistency and relevance of Budget Papers. Significant reforms include agencies now reporting on forward estimates, agency budgets now focusing on total costs rather than on individual expenses, and the introduction of risk and sensitivity analysis.

Implementation of AASB 1049

A new standard specifically for public sector reporting was issued by the Australian Accounting Standards Board in October 2007: AASB 1049 Whole of Government and General Government Sector Financial Reporting. The standard provides a single reporting framework that harmonises Generally Accepted Accounting Principles and Government Finance Statistics. Implementation of the standard required significant change to the Budget Management System and its reports. The year 2007–08 saw two years of planning culminate in the adoption of the new accounting standard. This has led to improved accountability and transparency to the community.