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22: Departmental restructuring

Under the Modernising Business Registers (MBR) Program, the Government decided to establish a new whole of government registry platform, the Australian Business Registry Services (ABRS). As part of the MBR Program the Commission of Taxation was appointed as the Commonwealth Registrar of the ABRS. In 2020-21 the ATO assumed responsibility for certain registry staff and services from the Australian Securities and Investments Commission effective 15 April 2021.

Note 22: Departmental Restructuring

Modernising Business Registers

Australian Securities and Investments Commission

$’000

Assets recognised

Appropriation receivable

9,192

Prepayments

42

Buildings

15,339

Buildings - leasehold improvements

2,518

Property, plant and equipment

27

Total assets recognised

27,118

Liabilities recognised

Employee provisions

5,090

Leases

16,006

Other provisions

120

Total liabilities recognised

21,216

Net assets assumed

5,902

Income

Recognised by the receiving entity

4,143

Recognised by the losing entity

18,134

Total income assumed

22,277

Expenses

Recognised by the receiving entity

4,321

Recognised by the losing entity

18,134

Total expenses assumed

22,455