Go to top of page

Outcome Responsibility

The Treasury Portfolio Budget Statements 2017-18 outcome is:

Informed decisions on the development and implementation of policies to improve the wellbeing of the Australian people, including by achieving strong, sustainable economic growth, through the provision of advice to government and the efficient administration of federal financial relations.

To achieve this outcome, the Treasury comprises of six specific groups, being the:

  1. Macroeconomic Group
  2. Fiscal Group
  3. Revenue Group
  4. Markets Group
  5. Structural Reform Group
  6. Corporate Services and Business Strategy Group.

Figure 1: Treasury Group senior management as at 30 June 2018

Secretary: JOHN FRASER

Macroeconomic Group

Deputy Secretary: Nigel Ray

International Policy and Engagement Division — Division Head: Lisa Elliston
Macroeconomic Conditions Division — Division Head: Angelia Grant A/g
Macroeconomic Modelling and Policy Division — Division Head: Jim Hagan

Overseas operations

Washington: Marty Robinson
OECD (Paris): Russ Campbell
London: Sam Reinhardt
Tokyo: Brenton Goldsworthy
Beijing: David Woods
Jakarta: Katherine Tuck
New Delhi: Ashley Bell
Papua New Guinea: Aidan Storer
Indonesia: Bede Moore

Markets Group

Deputy Secretary: John Lonsdale

Australian Government Actuary — Manager: Guy Thorburn
Consumer and Corporations Policy Division — Division Head: Liz Williamson
Foreign Investment Division — Division Head: Roger Brake
Financial System Division — Division Head: Diane Brown
Takeovers Panel — Director: Allan Bulman

Fiscal Group

Deputy Secretary: Michael Brennan

Budget Policy Division — Division Head: Jonathan Rollings A/g
Commonwealth‑State Relations Division — Division Head: Kate Phipps
Retirement Income Policy Division — Division Head: Robert Jeremenko
Social Policy Division — Division Head: Vicki Wilkinson

Revenue Group

Deputy Secretary: Maryanne Mrakovcic

Board of Taxation Secretariat — Chief Executive Officer: Karen Payne
Corporate and International Tax Division — Division Head: Paul McCullough
Individuals and Indirect Tax Division — Division Head: Marisa Purvis-Smith
Law Design Office — Division Head: Simon Writer A/g
Tax Analysis Division — Division Head: Matt Brine
Tax Framework Division — Division Head: Graeme Davis A/g

Structural Reform Group

Deputy Secretary: Meghan Quinn

Chief Adviser: Dan Andrews
Chief Adviser: Hamish McDonald

Corporate Services and Business Strategy Group

Deputy Secretary: Matt Flavel

Chief Financial Officer Division — Division Head: Robert Twomey
Communications and Parliamentary Division — Division Head: Shannon Kenna
Information Services Division — Division Head: Mike Webb A/g
People and Organisation Strategy Division — Division Head: Phoebe Burgess
Sydney Office — Head: Warren Tease
Melbourne Office — Head: Michelle Dowdell
Perth Office — Head: Chris Stavrianou

Figure 2: Treasury outcome and program structure as at 30 June 2018

Outcome 1: Informed decisions on the development and implementation of policies to improve the wellbeing of the Australian people, including by achieving strong, sustainable economic growth, through the provision of advice to government and the efficient administration of federal financial relations.

Groups within the Treasury include specialist divisions that are responsible for delivering identified programs to achieve its outcome.

Program 1.1: Department of the Treasury

Macroeconomic Group

International Policy and Engagement Division
Macroeconomic Conditions Division
Macroeconomic Modelling and Policy Division

Markets Group

Australian Government Actuary
Consumer and Corporations Policy Division
Foreign Investment Division
Financial System Division
Takeovers Panel

Fiscal Group

Budget Policy Division
Commonwealth-State Relations Division
Retirement Income Policy Division
Social Policy Division

Revenue Group

Board of Taxation Secretariat
Corporate and International Tax Division
Individuals and Indirect Tax Division
Law Design Office
Tax Analysis Division
Tax Framework Division

Structural Reform Group

Competition Policy
Industry Policy

Corporate Services and Business Strategy Group

Chief Financial Officer Division
Communications and Parliamentary Division
Information Services Division
People and Organisation Strategy Division

Program 1.2: Payments to international financial institutions
Macroeconomic Group: International Policy and Engagement Division

Program 1.3: Support for markets and business
Markets Group: Financial System Division

Program 1.4: General revenue assistance
Fiscal Group: Commonwealth-State Relations Division

Program 1.5: Assistance to the states for healthcare services
Fiscal Group: Commonwealth-State Relations Division

Program 1.6: Assistance to the states for skills and workforce development
Fiscal Group: Commonwealth-State Relations Division

Program 1.7: Assistance to the states for disability services
Fiscal Group: Commonwealth-State Relations Division

Program 1.8: Assistant to states for affordable housing
Fiscal Group: Commonwealth-State Relations Division

Program 1.9: National partnership payments to the states
Fiscal Group: Commonwealth-State Relations Division

Financial Performance

The Treasury has a sound financial position, with sufficient cash reserves to fund its debts as and when they fall due. After adjusting for depreciation, amortisation and changes in asset revaluation reserves, the Treasury reported an operating surplus of $3.2 million in 2017-18, which was driven by underspends in sustained functions, overheads, reserves and one-off activities, rather than the base functions of the Treasury. This compares with an operating surplus of $3.3 million in 2016‑17 after adjusting for depreciation, amortisation and changes in asset revaluation reserves. The Treasury’s administered expenses in 2017-18 were $133.9 billion, compared with $94.5 billion in 2016-17. The first Medicare Guarantee Fund payment was processed in 2017-18 for the amount of $34.8 billion.

The Treasury received an unmodified audit report on the 2017-18 financial statements from the Australian National Audit Office. These statements are in Part 4 Financial statements.