The Finance‑General Division is administered by the Department of Treasury and Finance.
The major activities transacted through Finance‑General include the management of the Government’s financial assets and liabilities, meeting the Government’s pension and other superannuation commitments, administration of the Tasmanian Risk Management Fund, management of the Government’s light vehicle fleet and property portfolio and payments to government businesses.
Finance-General also includes funding to assist with the replacement of the Spirits of Tasmania (I and II) within the TT-Line Vessel Replacement Fund and funding for the transformation and replacement of major agency ICT infrastructure.
Certain provisions have been made in the Public Account to meet future liabilities of the Government, including a provision within the Tasmanian Risk Management Fund (Specific Purpose Account) for workers’ compensation and other insurable risks in respect of inner‑Budget agencies. Information on the Government’s superannuation liabilities and administration of the Tasmanian Risk Management Fund is provided in chapter 7 of The Budget Budget Paper No 1.
Outputs of Finance-General are provided under the following Output Groups:
· Output Group 1 ‑ Debt Servicing and Management;
· Output Group 2 ‑ Employee Related Costs;
· Output Group 3 ‑ Government Businesses;
· Output Group 4 ‑ Miscellaneous;
· Output Group 89 - Public Building Maintenance Program; and
· Output Group 90 - COVID‑19 Response and Recovery.
Table 4.1 provides an Output Group Expense Summary for Finance-General.
To enable the presentation of this important information, new Output Groups have been established. Output Group 89 - Public Building Maintenance Program, reflects expenditure under the Government’s Public Building Maintenance Program and Output Group 90 - COVID-19 Response and Recovery, reflects expenditure allocated to specific Government COVID-19 response and recovery initiatives. Further information in relation to these outputs is provided in chapter 12 of this Budget Paper.
Funding of $145 million, in 2020‑21, has been provided to establish an unallocated funding provision to meet currently unforeseen or uncertain COVID‑19 related costs (Output 90.3). This provision replaces that provided for within the Supply Act (No 1) 2020. Known COVID‑19 related costs in 2020‑21 will be directly appropriated to relevant agencies through the 2020 Appropriation Acts.
Many aspects of the future impact of the COVID‑19 pandemic remain uncertain at the time of the finalisation of the 2020‑21 Budget. This includes the direct impact on the community of the spread of the virus, the impact on the economy, the level of demand for existing Government programs and commitments and the need for new economic and social measures that were not able to be accurately forecast or known at the time. The early establishment of the central provisions, in 2019‑20 and in 2020‑21, were important factors in enabling the Government to act quickly and appropriately to support the Tasmanian community. Given this ongoing high level of uncertainty and the success of this approach, it is considered important that a further provision be established in 2020‑21 to provide the capacity for similar support to be provided.
The funding allocated to the provision will be available to support currently uncertain costs in relation to the outcomes of the work of the Premier’s Economic and Social Recovery Advisory Council. Furthermore, following the finalisation of 2020-21 Budget information, the Government will continue to make decisions in relation to the implementation of measures to address the impact of the COVID-19 pandemic. Information in relation to new decisions will be provided in other announcements and in the 2020-21 Budget Speech. Where required, additional costs associated with these new measures will be funded from the COVID-19 Provision.
|
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
Treasurer |
|
|
|
|
|
|
|
|
|
|
|
Output Group 1 - Debt Servicing and Management |
|
|
|
|
|
1.1 Debt Servicing1 |
35 |
21 365 |
45 665 |
55 438 |
63 817 |
1.2 Interest on Sundry Deposits2 |
2 089 |
563 |
616 |
792 |
989 |
1.3 Debt Management3 |
7 033 |
.... |
.... |
.... |
.... |
|
9 157 |
21 928 |
46 281 |
56 230 |
64 806 |
Output Group 3 - Government Businesses |
|
|
|
|
|
3.1 Sustainable Timber Tasmania |
2 000 |
2 000 |
2 000 |
2 000 |
2 000 |
3.2 State Fire Commission |
12 836 |
12 596 |
12 596 |
12 596 |
12 596 |
3.4 Government Businesses4 |
.... |
2 574 |
4 698 |
4 903 |
5 090 |
|
14 836 |
17 170 |
19 294 |
19 499 |
19 686 |
Output Group 4 - Miscellaneous |
|
|
|
|
|
4.2 Treasurer's Reserve5 |
10 000 |
80 000 |
10 000 |
10 000 |
10 000 |
4.3 Miscellaneous6 |
(13 309) |
4 394 |
545 |
474 |
474 |
4.4 Payment to Australian Tax Office: GST Administration |
13 399 |
12 803 |
12 805 |
12 808 |
12 808 |
4.9 Ex‑Gratia Assistance7 |
610 |
6 200 |
300 |
300 |
300 |
|
10 700 |
103 397 |
23 650 |
23 582 |
23 582 |
Output Group 90 - COVID-19 Response and Recovery |
|
|
|
|
|
90.2 Local Government $200 million Interest Free Loans8 |
.... |
3 400 |
6 000 |
.... |
.... |
90.3 COVID-19 Provision9 |
.... |
145 000 |
.... |
.... |
.... |
90.4 Small Business Electricity Waiver10 |
.... |
500 |
.... |
.... |
.... |
90.8 Tasmanian HomeBuilder Grant11 |
.... |
10 000 |
10 000 |
.... |
.... |
|
.... |
158 900 |
16 000 |
.... |
.... |
|
|
|
|
|
|
Grants and Subsidies12 |
460 067 |
604 444 |
533 887 |
648 007 |
746 457 |
|
|
|
|
|
|
Minister for Finance |
|
|
|
|
|
|
|
|
|
|
|
Output Group 2 - Employee Related Costs |
|
|
|
|
|
2.1 Superannuation and Pensions13 |
370 154 |
304 502 |
244 432 |
230 747 |
217 661 |
|
370 154 |
304 502 |
244 432 |
230 747 |
217 661 |
Output Group 4 - Miscellaneous |
|
|
|
|
|
4.1 Information and Communication Technology14 |
25 542 |
11 376 |
15 515 |
19 114 |
23 551 |
4.5 Tasmanian Risk Management Fund15 |
70 968 |
80 937 |
85 894 |
84 044 |
87 094 |
4.6 Fleet Management Services |
15 726 |
16 642 |
17 058 |
17 476 |
17 894 |
4.7 Property Management Services16 |
37 539 |
56 587 |
50 178 |
45 552 |
42 703 |
4.8 Infrastructure Investment Project Planning |
2 000 |
2 000 |
2 000 |
2 000 |
2 000 |
|
151 775 |
167 542 |
170 645 |
168 186 |
173 242 |
|
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
Output Group 89 - Public Building Maintenance Program |
|
|
|
|
|
89.1 Public Building Maintenance Program17 |
.... |
50 597 |
9 450 |
.... |
.... |
|
.... |
50 597 |
9 450 |
.... |
.... |
Output Group 90 - COVID-19 Response and Recovery |
|
|
|
|
|
90.1 Youth Employment Scheme18 |
.... |
280 |
.... |
.... |
.... |
|
.... |
280 |
.... |
.... |
.... |
|
|
|
|
|
|
TOTAL |
1 016 689 |
1 428 760 |
1 063 639 |
1 146 251 |
1 245 434 |
|
|
|
|
|
|
Notes:
1. The increase in Debt Servicing from 2020-21 primarily reflects anticipated increases in the estimated General Government Sector cash deficit.
2. The variations in Interest on Sundry Deposits are primarily due to variations in cash balances over the Budget and Forward Estimates and lower interest rates.
3. The decrease in Debt Management in 2020-21 reflects the waiver of debt associated with the Commonwealth State Housing Agreement.
4. The increase in Government Businesses from 2020-21 primarily reflects payment to the Racing Industry of a share of the Point of Consumption Tax.
5. The increase in Treasurer’s Reserve in 2020-21 reflects a one-off increase to meet expenditure that could not reasonably be foreseen at the time of developing the 2020-21 Budget particularly in relation to the COVID-19 pandemic.
6. The increase in Miscellaneous in 2020-21 primarily reflects the Government’s decision to remove agency efficiency dividends from 2020-21 in response to the COVID‑19 pandemic. The decrease from 2021-22 reflects a decrease in expenditure associated with ongoing Government Business Reviews.
7. The increase in Ex-Gratia Assistance in 2020-21 reflects additional payments to be made under section 55 of the Financial Management Act 2016. This primarily includes payments in relation to corporate reconstructions.
8. This reflects funding provided to local government by way of an interest rebate on eligible loans as part of the COVID-19 support measures.
9. This reflects additional funding that has been provided to facilitate the funding of currently unknown future costs in relation to addressing the impact of the COVID-19 pandemic.
10. This reflects funding provided for the finalisation of outstanding claims made for the Small Business Electricity waiver in 2019‑20.
11. This reflects grant funding of $20 000 for home owner-occupiers for eligible new home builds where the contract is signed between 4 June 2020 and 31 December 2020.
12. For further information on the movement in Grants and Subsidies see Table 4.5 Administered Expenses.
13. The decrease in Superannuation and pensions from 2020-21 primarily reflects a decrease in the discount rate used when calculating the State’s superannuation liability and associated expenditure.
14. The decrease in Information and Communication Technology in 2020-21 primarily reflects the current estimated expenditure profile for the Tasmanian Government Radio Network project.
15. The increase in Tasmanian Risk Management Fund in 2020-21 primarily reflects the latest insurance claim estimates provided by the State’s Actuary.
16. The increase in Property Management Services in 2020-21 primarily reflects additional lease contracts that meet the definition of major office accommodation (defined in Treasurer’s Instruction C‑2 Contracts - Major Office Accommodation Leases) within Finance‑General, previously recognised by the tenant agency.
17. This reflects funding provided for the Government’s Public Building Maintenance Program COVID‑19 related measure. The total value of the program is $70 million.
18. This reflects funding provided as part of stage one of the Government’s social and economic support package.
This Output provides for the interest cost incurred in managing the State Government’s debt portfolio.
This Output provides for the payment of interest on balances held in certain Specific Purpose Accounts and Agency Trust Accounts.
This Output reflects transactions associated with the repayment of Australian Government debt relating to housing activities. Agreement was reached with the Australian Government for the waiver of the Commonwealth‑State Housing Agreement Debt on 20 September 2019.
This Output meets the Government’s share of superannuation and pension costs in respect of defined benefit schemes.
The superannuation and pension expense estimates includes service costs in respect of unfunded superannuation benefits and nominal interest costs on defined benefit liabilities. The estimated value of the expense is based on the most recent actuarial assessment of the superannuation liability.
Further information in relation to the General Government superannuation liability can be found in chapter 7 of The Budget Budget Paper No 1.
This Output provides funding to Sustainable Timber Tasmania to maintain its firefighting capacity and assist with fighting wild fires.
A provision of $12.6 million has been made for the State Fire Commission in 2020-21 and subsequent years. This includes a permanent increase of $9.8 million per annum to support the central provision for funding excess firefighting costs, taking the total provision to $10 million annually. As has been the case in the past, additional funding to meet bushfire‑related costs will be considered on a year by year basis depending upon funding requirements. A funding provision of $790 000 per annum supports the Bushfire Mitigation Program and the remaining $1.8 million represents the State Government’s annual funding contribution to the Commission in accordance with section 101 of the Fire Service Act 1979. Further information in relation to the Commission can be found in chapter 25 of this Budget Paper.
The introduction of a Point of Consumption (POC) tax on wagering was announced in the 2019-20 Budget and a commitment was provided to share the net benefits between Government and the racing industry. It was agreed that 80 per cent of the additional revenue generated from the POC tax would be provided to Tasracing to support the thoroughbred, harness and greyhound codes of racing in Tasmania through investment in stakes, infrastructure and animal welfare. The POC tax commenced on 1 January 2020.
As part of the COVID-19 social and economic support measures, it was agreed that Tasracing would be reimbursed for interest costs and guarantee fees related to COVID-19 borrowings for a period of six months.
This Output relates to the provision of funding for a number of major Information and Communication Technology projects administered by government departments. This Output includes funding for the Tasmanian Government Radio Network. This Project will lead to a significant improvement in the communication capacity of emergency and other organisations. Further information in relation to this Project can be found in the key deliverables section in chapter 8 of this Budget Paper.
This Output provides funding to meet expenditure that could not reasonably be foreseen at the time of developing the 2020-21 Budget and which is essential for timely and efficient financial management.
This Output provides funding for miscellaneous payments including in respect of Government Business Structural Reviews. Funding of $3.1 million has been provided in 2020-21 to provide for costs associated with structural reviews relating to the government business portfolio including expenditure associated with the Vessel Replacement Taskforce.
Under the Intergovernmental Agreement on Federal Financial Relations, the states and territories compensate the Australian Taxation Office for the agreed costs incurred in administering the goods and services tax. The states and territories share the GST administration costs on a per capita basis. This Output reflects Tasmania’s contribution to collection and compliance costs.
This Output represents anticipated claim and administration costs for the Tasmanian Risk Management Fund. Claim expenditure estimates for the Fund reflect the most recent actuarial advice.
All direct transactions associated with whole‑of‑government light vehicle fleet management activities are recorded in the Government Car Fleet Account within the Public Account. Revenue in the Government Car Fleet Account is derived from the sale of vehicles and receipts from the Government’s Fleet Manager of vehicle usage charges, registration and insurance payments by agencies, net of the fleet management fee.
Estimated expenses for this Output include motor vehicle registration expenses and estimated depreciation on motor vehicles.
Property Management Services includes building depreciation and rental and other occupancy costs relating to major office accommodation.
The Department of Treasury and Finance works with agencies to ensure that all leases are reviewed leading up to expiry to achieve the best use of office space and optimise whole‑of‑government outcomes in relation to more efficient and effective management of the Government’s leased office accommodation. Strategic divestments of the State’s property portfolio proposed by the Government are managed, by Treasury, on a case by case basis.
The Infrastructure Investment Project Planning Output provides funding of $2 million annually to support the early planning stages of major infrastructure projects including as part of the Structured Infrastructure Investment Review Process.
Under section 55 of the Financial Management Act 2016, if the Treasurer is satisfied that it is appropriate to do so because of special circumstances, the Treasurer may authorise an amount to be paid to a person even though the payment would not otherwise be authorised by law or be required to meet a legal liability.
This Output includes funding to fast track the maintenance of public buildings in 2020-21 and 2021-22 funded as part of the Government’s social and economic support measures. Further information in relation to the Public Building Maintenance Program can be found in chapter 12 of this Budget Paper.
This Output provides a targeted payroll tax rebate to eligible small business to encourage the employment of more young people.
This Output includes funding assistance in 2020-21 and 2021-22 to Local Government through an interest rebate on borrowings.
This Output provides funding assistance in 2020-21 to meet currently unknown future costs in relation to addressing the impact of the COVID-19 pandemic.
The Government, as part of its COVID-19 social and economic measures for small businesses, has provided a waiver of the first quarterly electricity bill or three monthly electricity bills issued to eligible small businesses after 1 April 2020.
This Output provides funding in 2020-21 and 2021-22 for eligible owner-occupiers with a grant of $20 000 to build a new home.
Table 4.2 provides financial information for Finance-General’s Capital Investment Program. More information on the Capital Investment Program is provided in chapter 6 of The Budget Budget Paper No 1.
|
Estimated |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
Total |
|
Forward |
Forward |
Forward |
|
Cost |
Budget |
Estimate |
Estimate |
Estimate |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
|
|
|
|
|
Minister for Finance |
|
|
|
|
|
|
|
|
|
|
|
Digital Transformation Priority Expenditure Program |
Ongoing |
12 600 |
14 900 |
14 500 |
15 000 |
|
|
|
|
|
|
Total CIP Allocations |
|
12 600 |
14 900 |
14 500 |
15 000 |
|
|
|
|
|
|
|
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Notes:
1. Explanations for significant variances and further information can be found in Table 4.4 Revenue from Appropriation by Output.
2. Grants represents funding from the Australian Government in the form of GST receipts, National Partnership Payments and Specific Purpose Payments. Further information on Australian Government Funding can be found in chapter 5 of The Budget Budget Paper No 1.
3. The increase in Sales of goods and services primarily reflects an increase in rental income received due to additional lease contracts that meet the definition of major office accommodation (defined in Treasurer’s Instruction C‑2 Contracts - Major Office Accommodation Leases) being recognised within Finance‑General. These contracts were previously recognised by the tenant agency.
4. The decrease in Interest revenue in 2020-21 primarily reflects a lower interest rate compared to 2019‑20. The decrease in 2023‑24 primarily reflects a lower Specific Purpose Account cash balance.
5. Further information on Dividend, tax and rate equivalent income can be found in chapter 5 of The Budget Budget Paper No 1.
6. The decrease in Movement in investments in GBEs and SOCs reflects a reclassification of the movement to Net gain/(loss) on revaluation of equity investment.
7. Other gains/(losses) from other economic flows reflects the estimated change in deferred tax assets and liabilities held by government businesses.
8. The decrease in the Employee benefits from 2020-21 primarily reflects a decrease in the discount rate used when calculating the State’s superannuation liability and associated expenditure.
9. The increase in Depreciation and amortisation primarily reflects an increase in depreciation expenditure due to additional lease contracts that meet the definition of major office accommodation (defined in Treasurer’s Instruction C‑2 Contracts - Major Office Accommodation Leases) being recognised within Finance‑General. These contracts were previously recognised by the tenant agency.
10. The increase in Supplies and consumables in 2020-21 primarily reflects expenses that have been provisionally allocated to this expenditure category from the $145 million COVID‑19 provision.
11. For further information on the movement in Grants and subsidies see table 4.5 Administered Expenses.
12. The increase in Borrowing costs from 2020-21 primarily reflects anticipated increases in the estimated General Government Sector cash deficit.
13. The change in Other expenses from 2020-21 reflects Government’s decision to remove agency efficiency dividends from 2020‑21 in response to the COVID‑19 pandemic.
14. Net gain/(loss) on revaluation of equity investment reflects the estimated change in the value of net assets of government businesses, excluding any equity contributions, between 1 July and 30 June each year.
15. Other movements taken directly to equity in 2019-20 reflected the initial application of AASB 15 Revenue from Contracts with Customers.
16. The movement in Net actuarial gains/(losses) of superannuation defined benefit plans reflects the latest valuation of the Superannuation Liability as provided by the State’s Actuary.
|
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
Treasurer |
|
|
|
|
|
|
|
|
|
|
|
Output Group 1 - Debt Servicing and Management |
|
|
|
|
|
1.1 Debt Servicing1 |
55 |
21 346 |
45 635 |
55 183 |
63 820 |
1.2 Interest on Sundry Deposits2 |
7 910 |
1 440 |
2 140 |
2 784 |
3 052 |
1.3 Debt Management3 |
15 050 |
.... |
.... |
.... |
.... |
|
23 015 |
22 786 |
47 775 |
57 967 |
66 872 |
Output Group 2 - Employee Related Costs |
|
|
|
|
|
2.3 Provision for 27th Pay |
7 400 |
7 400 |
7 400 |
7 400 |
7 400 |
|
7 400 |
7 400 |
7 400 |
7 400 |
7 400 |
Output Group 3 - Government Businesses |
|
|
|
|
|
3.1 Sustainable Timber Tasmania |
2 000 |
2 000 |
2 000 |
2 000 |
2 000 |
3.2 State Fire Commission |
12 836 |
12 596 |
12 596 |
12 596 |
12 596 |
3.4 Government Businesses4 |
90 775 |
106 122 |
120 659 |
135 322 |
61 201 |
|
105 611 |
120 718 |
135 255 |
149 918 |
75 797 |
Output Group 4 - Miscellaneous |
|
|
|
|
|
4.2 Treasurer's Reserve5 |
10 000 |
80 000 |
10 000 |
10 000 |
10 000 |
4.3 Miscellaneous6 |
(12 719) |
1 680 |
470 |
474 |
474 |
4.4 Payment to Australian Tax Office: GST Administration |
13 399 |
12 803 |
12 805 |
12 808 |
12 808 |
4.9 Ex‑Gratia Assistance7 |
610 |
6 200 |
300 |
300 |
300 |
|
11 290 |
100 683 |
23 575 |
23 582 |
23 582 |
Output Group 90 - COVID-19 Response and Recovery |
|
|
|
|
|
90.2 Local Government $200 million Interest Free Loans8 |
.... |
3 400 |
6 000 |
.... |
.... |
90.3 COVID-19 Provision9 |
.... |
136 060 |
.... |
.... |
.... |
90.8 Tasmanian HomeBuilder Grant10 |
.... |
10 000 |
10 000 |
.... |
.... |
|
.... |
149 460 |
16 000 |
.... |
.... |
|
|
|
|
|
|
Grants and Subsidies |
139 090 |
125 020 |
164 355 |
169 226 |
186 034 |
|
|
|
|
|
|
Operating Services Expenditure |
286 406 |
526 067 |
394 360 |
408 093 |
359 685 |
|
286 406 |
526 067 |
394 360 |
408 093 |
359 685 |
|
|
|
|
|
|
Minister for Finance |
|
|
|
|
|
|
|
|
|
|
|
Output Group 2 - Employee Related Costs |
|
|
|
|
|
2.1 Superannuation and Pensions |
350 |
350 |
350 |
350 |
350 |
|
350 |
350 |
350 |
350 |
350 |
|
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
Output Group 4 - Miscellaneous |
|
|
|
|
|
4.1 Information and Communication Technology11 |
25 542 |
12 703 |
19 024 |
40 838 |
48 774 |
4.7 Property Management Services |
13 962 |
11 699 |
9 683 |
9 888 |
10 090 |
4.8 Infrastructure Investment Project Planning |
2 000 |
2 000 |
2 000 |
2 000 |
2 000 |
|
41 504 |
26 402 |
30 707 |
52 726 |
60 864 |
Output Group 89 - Public Building Maintenance Program |
|
|
|
|
|
89.1 Public Building Maintenance Program12 |
.... |
50 597 |
9 450 |
.... |
.... |
|
.... |
50 597 |
9 450 |
.... |
.... |
Output Group 90 - COVID-19 Response and Recovery |
|
|
|
|
|
90.1 Youth Employment Scheme13 |
.... |
280 |
.... |
.... |
.... |
|
.... |
280 |
.... |
.... |
.... |
|
|
|
|
|
|
Capital Investment Program |
12 334 |
5 600 |
14 900 |
14 500 |
15 000 |
|
|
|
|
|
|
Operating Services Expenditure |
41 854 |
77 629 |
40 507 |
53 076 |
61 214 |
Capital Services Expenditure |
12 334 |
5 600 |
14 900 |
14 500 |
15 000 |
|
54 188 |
83 229 |
55 407 |
67 576 |
76 214 |
|
|
|
|
|
|
Finance-General |
|
|
|
|
|
Total Operating Services Expenditure |
328 260 |
603 696 |
434 867 |
461 169 |
420 899 |
Total Capital Services Expenditure |
12 334 |
5 600 |
14 900 |
14 500 |
15 000 |
|
340 594 |
609 296 |
449 767 |
475 669 |
435 899 |
|
|
|
|
|
|
Reserved by Law |
|
|
|
|
|
Payments to Municipalities under the Local Government (Rates and Charges Remissions) Act 1991 |
18 432 |
17 675 |
17 824 |
17 974 |
18 125 |
Payments under the Public Sector Superannuation Reform (Parliamentary Superannuation) Regulations |
1 017 |
1 059 |
1 038 |
1 018 |
999 |
Superannuation Benefits Payable under the Governor of Tasmania Act 1982 |
122 |
112 |
113 |
114 |
114 |
Superannuation Benefits Payable under the Judges' Contributory Pensions Act 1968 |
2 086 |
1 900 |
1 912 |
1 920 |
1 924 |
Superannuation Benefits Payable under the Public Sector Superannuation Reform Act 2016 |
296 698 |
295 998 |
295 383 |
302 587 |
310 573 |
Superannuation Benefits Payable under the Solicitor-General Act 1983 |
290 |
271 |
273 |
274 |
274 |
|
318 645 |
317 015 |
316 543 |
323 887 |
332 009 |
|
|
|
|
|
|
|
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
Appropriation Rollover |
.... |
36 024 |
.... |
.... |
.... |
|
|
|
|
|
|
Total Revenue from Appropriation |
659 239 |
962 335 |
766 310 |
799 556 |
767 908 |
|
|
|
|
|
|
Administered Revenue from Appropriation |
659 239 |
962 335 |
766 310 |
799 556 |
767 908 |
|
659 239 |
962 335 |
766 310 |
799 556 |
767 908 |
|
|
|
|
|
|
Notes:
1. The increase in Debt Servicing from 2020-21 primarily reflects anticipated increases in the General Government Sector cash deficit.
2. The variations in Interest on Sundry Deposits are primarily due to variations in the cash balances over the Budget and Forward Estimates and lower interest rates.
3. The decrease in Debt Management from 2020-21 reflects the waiver of debt associated with the Commonwealth State Housing Agreement.
4. The increase in Government Businesses from 2020-21 primarily reflects payment to the Racing Industry of a share of the Point of Consumption Tax.
5. The increase in Treasurer’s Reserve in 2020-21 reflects a one-off funding increase to meet expenditure that could not reasonably be foreseen at the time of developing the 2020-21 Budget, particularly in relation to the COVID-19 pandemic.
6. The increase in Miscellaneous in 2020-21 primarily reflects the Government’s decision to remove agency efficiency dividends from 2020-21 in response to the COVID‑19 pandemic. The decrease from 2021-22 reflects a decrease in expenditure associated with ongoing Government Business Reviews.
7. The increase in Ex-Gratia Assistance in 2020-21 reflects additional payments to be made under section 55 of the Financial Management Act 2016.
8. This represents funding provided to local government by way of an interest rebate on eligible loans as part of the COVID-19 economic and social measures.
9. This represents funding that has been provided to establish a central unallocated funding provision to meet currently unforeseen or uncertain COVID-19 related costs. The full value of the provision is $145 million which includes funding rolled-over from 2019-20 under the provisions of the Financial Management Act 2016.
10. This represents grant funding of $20 000 for home owner-occupiers for eligible new home builds where the contract is signed between 4 June 2020 and 31 December 2020.
11. The decrease in Information and Communication Technology in 2020-21 primarily reflects the current estimated expenditure profile for the Tasmanian Government Radio Network project.
12. This reflects funding provided for the Government’s Public Building Maintenance Program COVID-19 related measure.
13. This reflects funding provided as part of stage one of the Government’s social and economic support package.
|
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
Grants and Subsidies |
|
|
|
|
|
Energy Retailer Concession |
44 899 |
43 003 |
43 371 |
43 744 |
44 117 |
First Home Builder Assistance1 |
12 720 |
16 020 |
12 480 |
7 860 |
3 360 |
Local Government: Grants2 |
44 317 |
43 277 |
91 168 |
101 693 |
126 076 |
Management of Australian Government Funding3 |
302 517 |
457 935 |
351 680 |
460 779 |
542 270 |
Natural Disaster Relief Scheme4 |
13 919 |
10 581 |
532 |
532 |
532 |
Other Grants and Subsidies5 |
9 034 |
2 285 |
34 |
34 |
34 |
Payments under Local Government (Rates and Charges Remissions) Act 1991 |
18 432 |
17 675 |
17 824 |
17 974 |
18 125 |
Payroll Tax Assistance6 |
4 817 |
4 849 |
7 665 |
6 056 |
2 401 |
TT-Line Pensioner Concession Subsidy |
312 |
226 |
342 |
342 |
342 |
Water and Sewerage Concessions and Subsidies |
9 100 |
8 593 |
8 791 |
8 993 |
9 200 |
|
460 067 |
604 444 |
533 887 |
648 007 |
746 457 |
|
|
|
|
|
|
Transfer to the Public Account |
5 275 624 |
6 459 370 |
6 055 042 |
5 894 618 |
6 055 656 |
|
|
|
|
|
|
Other Administered Expenses |
556 622 |
824 316 |
529 752 |
498 244 |
498 977 |
|
|
|
|
|
|
Total Administered Expenses |
6 292 313 |
7 888 130 |
7 118 681 |
7 040 869 |
7 301 090 |
|
|
|
|
|
|
Notes:
1. The increase in 2020-21 primarily reflects funding provided under the Homebuilder Grant.
2. The increase in 2021-22 reflects that an advance payment was made for the 2020-21 entitlement in 2019-20.
3. The variation in Management of Australian Government Funding is primarily related to cash flows for grant funding from the Australian Government.
4. The decrease in the Natural Disaster Relief Scheme primarily reflects the finalisation of costs associated with the June 2016 flood event and revised expenditure associated with the May 2018 extreme weather event.
5. The decrease in Other Grants and Subsidies in 2020-21 primarily reflects a reduction in expenditure associated with Energy Rebates for Business. The decrease from 2021-22 reflects the cessation of funding for Energy Rebates for Business and Copper Mines of Tasmania.
6. The increase in Payroll Tax Assistance in 2021-22 is primarily related to cash flows associated with the targeted Payroll Tax Rebate for apprentices, trainees and youth employees scheme.
In accordance with the Electricity Supply Industry Act 1995, the Government entered into a Community Service Obligation Agreement with authorised electricity retailers to provide a range of concessions to eligible low income households and pensioners and those requiring specified life support equipment to assist them in meeting the costs of electricity. The decrease in the Electricity Retailer Concession in 2020-21 reflects the decision by the Government to cap electricity prices for all regulated electricity customers as part of its social and economic support measures. There has been no change in electricity concessions rates for 2020-21 as regulated electricity prices decreased on 1 July 2020. The increase over the Forward Estimates period reflects the historical average concession growth rate.
The Government has extended the First Home Owner Grant of $20 000 until 30 June 2022, which is expected to support ongoing demand for newly constructed homes by first home buyers.
Local Government Grants includes funding under the Australian Local Government (Financial Assistance) Act 1995, whereby the Australian Government provides funds to the states for distribution as general purpose grants to local government. This funding includes general purpose funding and identified local road funding.
A Tasmanian Natural Disaster Relief Scheme, administered by the Department of Premier and Cabinet, is funded within Finance‑General. This Scheme provides for payments to local government authorities for the eligible costs of restoring or replacing essential public assets, which have been damaged as a direct result of a disaster, to a pre‑disaster standard. Disasters for which relief is available are determined at the national level and include any one of, or a combination of, the following natural hazards: bushfire; earthquake; flood; storm; cyclone; storm surge; landslide; tsunami; meteorite strike or tornado.
Funding of $2.3 million has been included for Other Grants and Subsidies in the 2020‑21 Budget. This includes $1.9 million for Copper Mines of Tasmania and minor expenses relating to the Rosetta and Berriedale landslip accounts.
In accordance with the provisions of the Local Government (Rates and Charges Remissions) Act 1991, the pensioner rates remission scheme provides a concession of 30 per cent off council rates and charges, up to a defined maximum annual amount for eligible pensioners. The maximum concession is indexed annually to ensure that rate relief increases in line with inflation.
The Payroll Tax Rebate for apprentices, trainees and youth employees provides a payroll tax rebate for two years from the date that apprentices and trainees are employed, and one year from the date that youth employees are employed, where they were employed between 1 July 2017 and 30 June 2019.
A targeted Payroll Tax Rebate will continue for new apprentices and trainees employed in specific industries between 1 July 2019 and 31 December 2020. A broader Payroll Tax Rebate will be available for new apprentices and trainees employed in all industries between 1 January 2021 and 30 June 2022.
A Payroll Tax Rebate will also continue for new youth employees (persons aged 24 years and under) employed between 1 April 2020 and 30 June 2022.
Expenditure is consistent over 2020-21 to 2021-22 reflecting extended eligibility requirements. Expenditure will gradually decrease from 2021-22 reflecting the time-limited rebate for eligible employees.
The Government is continuing its financial assistance package to Qantas, including payroll tax reimbursement of up to $1 million per annum for 10 years from 2014‑15, ending with a final reimbursement of up to $250 000 in 2024‑25. Funding is limited to the sum of $1 million in any one financial year or the amount of payroll tax paid in that year, whichever is the lesser sum. This payroll tax relief is part of a broader agreement with Qantas to secure existing Qantas Contact Centre positions and, through the consolidation of Australia‑wide operations, provides for employment at the Hobart Contact Centre.
The Government provides a subsidy to TT-Line Company Pty Ltd for the additional cost of providing concession arrangements to pensioners following an extension by the Australian Government, from 1 April 1993, of eligibility for the Pensioner Concession Card.
Under the Water and Sewerage Industry (Community Service Obligation) Act 2009, concessions are made available to eligible low income households and pensioners to assist them in meeting the cost of services provided by the Tasmanian Water and Sewerage Pty Ltd. Payments are made to TasWater which passes the benefit onto eligible concession card holders as lower service charges.
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Notes:
1. The decrease in Cash and deposits from 2022 primarily reflects lower Specific Purpose Account cash balances.
2. The decrease in Investments in 2023 reflects the expected drawdown of the TT-Line Vessel Replacement Fund.
3. The movements in Equity investments primarily reflects the estimated change in the value of net assets of government businesses, excluding any equity contributions, between 1 July and 30 June each year.
4. The decrease in Other financial assets in 2020-21 represents the estimated movement of deferred tax assets and liabilities held by government businesses.
5. The increase in Other assets primarily reflects additional lease contracts that meet the definition of major office accommodation (defined in Treasurer’s Instruction C‑2 Contracts ‑ Major Office Accommodation Leases) being recognised within Finance‑General. These contracts were previously recognised by the tenant agency.
6. The increase in Interest bearing liabilities reflects the anticipated increase in the General Government Sector cash deficit.
7. The increase in Superannuation primarily reflects the latest advice provided by the State’s Actuary. The primary reason for the increase is due to a decrease in the discount rate from 4.25 per cent to 1.0 per cent. Further information is included in chapter 7 of The Budget Budget Paper No. 1.
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