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20: Special accounts

20: Special accounts

Australian Charities and Not-for-profits Commission Special Account1

Services for Other Entities and Trust Moneys Special Account - Australian Taxation Office (Comcare receipts)2

2021

2020

2021

2020

$'000

$'000

$'000

$'000

Balance brought forward from previous period

5,441

4,246

-

-

Increases

20,699

16,338

8

42

Decreases

(15,227)

(15,143)

(8)

(42)

Total balance carried to the next period

10,913

5,441

-

-

Balance represented by:

Cash held in entity bank accounts

885

1,679

-

-

Cash held in the official public account

10,028

3,762

-

-

Total balance carried to the next period

10,913

5,441

-

-

1.The Australian Charities and Not-for-profits Commission Special Account

Establishing authority: Public Governance, Performance and Accountability Act 2013 - section 80.

Establishing instrument: Australian Charities and Not-for-profits Commission Act 2012 - section 125-5.

Purpose:

(a) paying or discharging the costs, expenses and other obligations incurred by the Commonwealth in the performance of the Commissioner’s functions;

(b) paying any remuneration and allowances payable to any person under this Act (including staff mentioned in section 120-5); and

(c) meeting the expenses of administering the Account.

The ACNC Commissioner's functions:

(a) the general administration of this Act;

(b) carry out activities that assist registered entities in complying with and understanding this Act, by providing them with guidance and education; and

(c) assisting the public in understanding the work of the not-for-profit sector, in order to improve the transparency and accountability of the sector, by giving the public relevant information on the ACNC website.

2.Services for Other Entities and Trust Moneys Special Account - Australian Taxation Office (Comcare receipts)

Establishing authority: Public Governance, Performance and Accountability Act 2013 - section 78.

Establishing instrument: Financial Management and Accountability Determination 2012/15 - SOETM Special Account - ATO.

Purpose: for the receipt of moneys temporarily held in trust for other persons.

Increases represent receipts from Comcare in respect of Workers' Compensation payments for ATO employees with injuries prior to 1 July 2006. Decreases represent reimbursements to ATO of payments made in advance by ATO to employees.

Accounting policy

Workers’ compensation is insured through the Government’s Comcare scheme, an integrated safety, rehabilitation and compensation system. The ATO continues to pay incapacitated employees and then receives reimbursement from Comcare.

Amendments to the Safety, Rehabilitation and Compensation Act 1988 commencing 1 July 2006 provides for reimbursements directly to employers. Receipts from Comcare for payments made to the employee for injuries occurring after 1 July 2006 are treated as receipts under section 74 of the PGPA Act.

Receipts from Comcare for injuries prior to 1 July 2006 are credited to the Service for Other Entities Trust Moneys (SOETM) Special Account and held in the ATO’s official bank account until the employee gives written consent for the ATO to offset these amounts against payments made to the employee.

Superannuation Holding Accounts Special Account1

Services for Other Entities and Trust Moneys Special Account - Australian Taxation Office2

Superannuation Clearing House Special Account 3

Superannuation Clearing House Special Account 2020 4

2021

2020

2021

2020

2021

2020

2021

2020

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Balance brought forward from previous period

75,657

84,430

2,346

2,291

214,671

212,650

-

-

Increases

18,382

17,410

2,936

1,330

684,660

4,382,828

3,928,646

-

Decreases

(18,132)

(26,183)

(2,980)

(1,275)

(899,331)

(4,380,807)

(3,723,579)

-

Total balance carried to the next period

75,907

75,657

2,302

2,346

-

214,671

205,067

-

Balance represented by:

Cash held in entity bank accounts

4

4

-

-

-

37,664

44,281

-

Cash held in the Official Public Account

75,903

75,653

2,302

2,346

-

177,007

160,786

-

Total balance carried to the next period

75,907

75,657

2,302

2,346

-

214,671

205,067

-

1.Superannuation Holding Accounts Special Account

Establishing instrument: Small Superannuation Accounts Act 1995 - section 8.

Establishing authority: Public Governance, Performance and Accountability Act 2013 - section 80.

Purpose: for the receipt of small superannuation contributions from depositors and distribution to individuals.

2.Services for Other Entities and Trust Moneys Special Account - Australian Taxation Office

Establishing instrument: Financial Management and Accountability Determination 2012/15 - SOETM Special Account - ATO.

Establishing authority: Public Governance, Performance and Accountability Act 2013 - section 78.

Purpose: for the receipt of moneys temporarily held in trust for other persons.

The full closing balance of the Special Account is held in trust for both the current and comparative years.

3.Superannuation Clearing House Special Account

Establishing instrument: Financial Management and Accountability 2010/05 – Superannuation Clearing House Special Account Establishment 2010

Establishing authority: Public Governance, Performance and Accountability Act 2013 - section 78.

The full closing balance of the Special Account is held in trust for both the current and comparative years.

The Special Account was automatically repealed (“sunsetted”) on 2 September 2020. This Superannuation Clearing House Special Account 2020 was established to continue the purpose of the Special Account. Refer to the purpose of the new Special Account below.

4.Superannuation Clearing House Special Account 2020

Establishing instrument: PGPA Act Determination (Superannuation Clearing House Special Account 2020)

Establishing authority: Public Governance, Performance and Accountability Act 2013 - section 78.

The full closing balance of the Special Account is held in trust for both the current and comparative years.

The Special Account was established on 2 September 2020.

The purpose of the Superannuation Clearing House Special Account is to:

(a) make payments on behalf of small business employers to superannuation funds, retirement savings accounts and superannuation schemes;

(b) to repay to an original payer amounts credited to the Special Account, including the residual after any necessary payments are made for the purpose mentioned in paragraph (a);

(c) reduce the balance of the Special Account (and, therefore, the available appropriation for the Special Account) without making a real or notional payment; and

(d) repay amounts where a court order, Act or other law requires or permits the repayment of an amount received.