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.
Visit
https://www.transparency.gov.au/annual-reports/australian-taxation-office/reporting-year/2020-21-16