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Statement of Changes in Equity

for the year ended 30 June 2021

Contributed equity

Asset revaluation surplus

Retained earnings

Total equity

2021

2020

Original budget

2021

2020

Original budget

2021

2020

Original budget

2021

2020

Original budget

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Opening balance

Balance carried forward from previous period

1,897,779

1,706,580

1,897,779

123,183

123,220

123,183

(1,832,795)

(1,762,295)

(1,832,795)

188,167

67,505

188,167

Adjustment on initial application of AASB 16 Leases

-

-

-

-

47

-

-

146,938

-

-

146,985

-

Adjusted opening balance

1,897,779

1,706,580

1,897,779

123,183

123,267

123,183

(1,832,795)

(1,615,357)

(1,832,795)

188,167

214,490

188,167

Comprehensive loss

Other comprehensive loss

-

-

-

(29)

(84)

-

-

-

-

(29)

(84)

-

(Deficit) for the period

-

-

-

-

-

-

(92,635)

(217,438)

(206,507)

(92,635)

(217,438)

(206,507)

Total comprehensive loss

-

-

-

(29)

(84)

-

(92,635)

(217,438)

(206,507)

(92,664)

(217,522)

(206,507)

Transactions with owners

Distributions to owners

Returns of contributed equity1

(32,316)

(3,145)

-

-

-

-

-

-

-

(32,316)

(3,145)

-

Contributions by owners

Equity injection - appropriations

126,249

76,607

126,249

-

-

-

-

-

-

126,249

76,607

126,249

Departmental capital budget

118,644

117,737

118,644

-

-

-

-

-

-

118,644

117,737

118,644

Restructuring2

1,758

-

-

-

-

-

-

-

-

1,758

-

-

Total transactions with owners

214,335

191,199

244,893

-

-

-

-

-

-

214,335

191,199

244,893

Transfers between equity components

-

-

-

-

-

-

-

-

-

-

-

-

Closing balance as at 30 June

2,112,114

1,897,779

2,142,672

123,154

123,183

123,183

(1,925,430)

(1,832,795)

(2,039,302)

309,838

188,167

226,553

1.Return of contributed equity relates to amounts withheld through a section 51 determination which represent a loss of control to the ATO. Current year amount also includes repeal of Appropriation Act (No.2) 2018-19 which will automatically lapse from 1 July 2021. A total of $5,165,075 is still legally available and therefore included in Note 19B Unspent Annual Appropriations.

2.On 15 April 2021, as a result of the Modernising Business Register (MBR) program, $1,758,000 of net assets were transferred from the Australian Securities and Investments Commission (ASIC) to the ATO.

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

Accounting policy

Equity Injection

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.

Restructuring of Administrative Arrangement

Net assets received from or relinquished to another Government entity under a restructuring of administrative arrangements are adjusted at their book value directly against contributed equity.