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Statement of Changes in Equity

for the period ended 30 June 2019

Contributed Equity

Asset Revaluation Surplus

Retained Earnings

Total Equity

2019

2018

Original Budget

2019

2018

Original Budget

2019

2018

Original Budget

2019

2018

Original Budget

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Opening balance

Balance carried forward from previous period

1,550,110

1,453,370

1,609,450

115,401

115,519

115,518

(1,521,435)

(1,286,411)

(1,486,382)

144,076

282,478

238,586

Prior year adjustments1

-

-

-

-

-

-

2,706

20

-

2,706

20

-

Adjusted opening balance

1,550,110

1,453,370

1,609,450

115,401

115,519

115,518

(1,518,729)

(1,286,391)

(1,486,382)

146,782

282,498

238,586

Comprehensive income

Other comprehensive income

-

-

-

7,819

(118)

-

-

-

-

7,819

(118)

-

(Deficit) for the period

-

-

-

-

-

-

(243,566)

(235,044)

(192,169)

(243,566)

(235,044)

(192,169)

Total comprehensive income (deficit)

-

-

-

7,819

(118)

-

(243,566)

(235,044)

(192,169)

(235,747)

(235,162)

(192,169)

Transactions with owners

Distributions to owners

Returns of contributed equity2

(3,907)

(43,739)

-

-

-

-

-

-

-

(3,907)

(43,739)

-

Contributions by owners

Equity injection - appropriations

28,055

27,890

28,055

-

-

-

-

-

-

28,055

27,890

28,055

Departmental capital budget

132,322

112,589

112,322

-

-

-

-

-

-

132,322

112,589

112,322

Total transactions with owners

156,470

96,740

140,377

-

-

-

-

-

-

156,470

96,740

140,377

Transfers between equity components

-

-

-

-

-

-

-

-

-

-

-

-

Closing balance as at 30 June

1,706,580

1,550,110

1,749,827

123,220

115,401

115,518

(1,762,295)

(1,521,435)

(1,678,551)

67,505

144,076

186,794

1 Prior year adjustment relates to opening balance adjustment for the new accounting standard AASB 9 Financial Instruments.

2 Returns of contributed equity relate to amounts withheld through a section 51 determination which represent a loss of control to the ATO. Current year amount also includes repeal of 2016-17 annual appropriation and 2016-17 supply acts which will automatically lapse from 1 July 2019. These amounts are not legal reductions and are therefore still included in Note 19B Unspent Annual Appropriations.

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

Explanation of major variances

Additional Departmental capital budget of $20 million relates to a reclassification of departmental operating appropriation approved during the financial year. Other variances are supported by the explanations provided above in the Statement of Comprehensive Income and Statement of Financial Position.

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https://www.transparency.gov.au/annual-reports/australian-taxation-office/reporting-year/2018-2019-28