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Administered Reconciliation Schedule

for the year ended 30 June 2021

2021

2020

$'m

$'m

Opening assets less liabilities as at 1 July

18,416

27,806

Adjustments to equity

FTB equity transfer

(45)

126

HELP equity transfer

256

590

TSL equity transfer

(12)

30

SFSS equity transfer

(24)

21

Net (cost of)/contribution by services

Income

457,800

422,443

Expenses

(91,941)

(75,384)

Transfers (to)/from Australian Government

Appropriation transfers from the official public account

Annual appropriations

-

3

Special appropriations (unlimited)

204,681

161,349

Appropriation transfers to the official public account

Transfers to the official public account

(555,406)

(518,568)

Closing assets less liabilities as at 30 June

33,725

18,416

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

Accounting policy

Administered cash transfers to and from the official public account

Revenue collected by the ATO for use by the Australian Government rather than the ATO is administered revenue. Collections are transferred to the official public account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriations. Transfers to and from the OPA are adjustments to the administered cash held by the ATO on behalf of the Australian Government and are reported in the schedule of administered cash flows and in the administered reconciliation schedule.