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8. Other Information

8.1. Aggregate Assets and Liabilities

Note 8.1A: Aggregate Assets and Liabilities

2020

$'000

2019

$'000

Assets expected to be recovered in:

No more than 12 months

70,529

65,182

More than 12 months

63,917

34,680

Total assets

134,446

99,862

Liabilities expected to be recovered in:

No more than 12 months

15,823

12,026

More than 12 months

39,434

12,774

Total liabilities

55,257

24,800

Note 8.1B: Administered - Aggregate Assets and Liabilities

2020

$'000

2019

$'000

Assets expected to be recovered in:

No more than 12 months

160,821

188,494

More than 12 months

-

14,802

Total assets

160,821

203,296

Liabilities expected to be recovered in:

No more than 12 months

366

53

Total liabilities

366

53

8.2. Assets Held in Trust

AFSA fulfils the roles of the Official Trustee and Official Receivers under the Bankruptcy Act 1966, the Proceeds of Crime Act 1989 and the Proceeds of Crime Act 2002, and fulfils a trustee role under other legislation pursuant to court orders. As a result, it holds or controls assets in a trustee capacity. The following assets were held or controlled as at 30 June 2020:


Held under Child Support Assessment Act 1989

Monetary Assets - Services for Other Entities and Trust Money's Special Account

No monies were held in trust by the Official Receiver on behalf of individuals pursuant to Court Orders made under Child Support Assessment Act 1989.

2020

2019

$'000

$'000

Services for Other Entities and Trust Money’s Special Account

As at 1 July

-

-

Receipts

-

1

Payments

-

(1)

Total as at 30 June

-

-

Total monetary assets held in trust

-

-

Non-monetary assets

No non-monetary assets were held trust by the Official Receiver on behalf of individuals pursuant to Court Orders made under Child Support Assessment Act 1989.

Held under Bankruptcy Act 1966

Monetary Assets - Common Investment Fund

The Official Trustee holds monies in trust on behalf of bankrupt estates in the Common Investment Fund. These monies were not available for other purposes and are not included in AFSA’s financial statements.

2020

2019

$'000

$'000

Common Investment Fund

As at 1 July

16,425

18,057

Receipts

46,890

48,348

Payments

(50,128)

(49,980)

Total as at 30 June

13,187

16,425

Total monetary assets held in trust

13,187

16,425

Monetary Assets - Official Trustee Body Corporate (Estate Administration) Account

The Official Trustee holds funds for both the Commonwealth and bankrupt estates in the Official Trustee Body Corporate (Estate Administration) bank account. Funds held on behalf of the Commonwealth include Official Trustee fees which are reflected in Note 2.2B in the financial statements.

2020

2019

$'000

$'000

Official Trustee Body Corporate (Estate Administration)

As at 1 July

1,237

2,119

Receipts

13,178

13,696

Payments

(13,248)

(14,578)

Total as at 30 June

1,167

1,237

Total monetary assets held in trust

1,167

1,237

Non-monetary assets

The Official Trustee also holds non-monetary assets in trust on behalf of bankrupt estates that are not included in AFSA's financial statements. These represent assets that have vested in or have come under the control of the Official Trustee, or have been identified as requiring further action and reactivated by the Official Trustee, that the Official Trustee has not yet dealt with. The assets comprise of real estate, shares & investments, vehicles, business stock and equipment, tools of trade, marine vessels, jewellery, collectibles, antiques, debtors, deceased estate interests and other assets

Held under Proceeds of Crime Act 1987, Proceeds of Crime Act 2002 and equivalent legislation* (Forfeited)

Monetary Assets - Official Trustee Proceeds of Crime Forfeited Account

The Official Trustee holds monies in trust relating to assets that have been forfeited to the Commonwealth. Once the matters have been finalised funds are deposited into the Confiscated Assets Account (‘CAA’) or the Confiscated Assets Special Account (‘CASA’). The CAA and CASA are reported in Note 5.2 in the financial statements.

2020

2019

$'000

$'000

Proceeds of Crime – Forfeited

As at 1 July

26,338

25,711

Receipts

44,817

60,885

Payments

(52,680)

(60,258)

Total as at 30 June

18,475

26,338

Total monetary assets held in trust

18,475

26,338

Non-monetary assets

The Official Trustee holds non-monetary assets in trust on behalf of the Commonwealth that are not included in AFSA's financial statements. The assets comprise of real estate.

Held under Proceeds of Crime Act 1987, Proceeds of Crime Act 2002 and equivalent legislation* (Restrained)

Monetary Assets - Official Trustee Proceeds of Crime Restrained Accounts

The Official Trustee holds monies in trust (AUD, EUR and USD) on behalf of the third parties. Under the Proceeds of Crime Act 2002, these restrained monies are held in trust by the Official Trustee on behalf of defendants, are not available for other purposes and are not included in AFSA’s financial statements.

2020

2019

$'000

$'000

Proceeds of Crime – Restrained (AUD)

As at 1 July

104,323

151,014

Receipts

58,275

18,224

Payments

(29,595)

(64,915)

Total as at 30 June

133,003

104,323

Proceeds of Crime – Restrained (EUR)

As at 1 July

10

10

Receipts

3,548

-

Total as at 30 June

3,548

10

Proceeds of Crime – Restrained (USD)

As at 1 July

137

109

Receipts

1,161

22

Payments

(109)

-

Foreign currency conversion impact

3

6

Total as at 30 June

1,192

137

Total monetary assets held in trust

137,753

104,470

Non-monetary assets

The Official Trustee holds non-monetary assets in trust on behalf of third parties. The assets comprise of real estate, interests in leases, shares and superannuation holdings, vehicles, marine vessels, jewellery, antiques and collectibles, business equipment and stock, cryptocurrency and other assets and are not included in AFSA's financial statements.

Held under Proceeds of Crime Act 1987, Proceeds of Crime Act 2002 and equivalent legislation*

Monetary Assets - Official Trustee Body Corporate (Proceeds of Crime) Account

The Official Trustee holds funds for both the Commonwealth and Proceeds of Crime and equivalent legislation matters in the Official Trustee Body Corporate (Proceeds of Crime) bank account. Funds held on behalf of the Commonwealth include Official Trustee fees which are reflected in Note 2.2B in the financial statements.

2020

2019

$'000

$'000

Official Trustee Body Corporate (Proceeds of Crime)

As at 1 July

840

300

Receipts

4,180

2,830

Payments

(4,230)

(2,290)

Total as at 30 June

790

840

Total monetary assets held in trust

790

840

Non-monetary assets

The Official Trustee holds non-monetary assets in trust on behalf of Proceeds of Crime matters. The assets comprise of receivables.
* Equivalent legislation includes the Customs Act 1901 and the Mutual Assistance in Criminal Matters Act 1987, under which the Official Trustee has powers to deal with and dispose of property pursuant to orders.