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.
Visit
https://www.transparency.gov.au/annual-reports/australian-taxation-office/reporting-year/2020-21-20