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Note 2: Income and expenses administered on behalf of the Government

2.1: Administered - expenses

2021

$

2020

$

2.1A

Suppliers

Services rendered

Insurance

99,525

73,296

Total suppliers

99,525

73,296

2.1B

Changes in recovery from insurance

Changes in recovery from insurance

38,674

39,324

Total changes in recovery from insurance

38,674

39,324

2.2: Administered - income

2021

$

2020

$

2.2A

Levies

Levies

270,265

229,550

Total Levies

270,265

229,550

2.2B

Other revenue

Repayment of workers' compensation claims payments

-

181,450

Repayment of service fees

496,704

380,000

Total other revenue

496,704

561,450

2.2C

Gains from movement in workers' compensation claims provision

Gains from movement in workers' compensation claims provision

178,351

111,000

Total gains from movement in workers' compensation claims provision

178,351

111,000

Accounting policy

Levies are collected from scheme employers under the Seafarers Rehabilitation and Compensation Levy Act 1992 and the Seafarers Rehabilitation and Compensation Levy Collection Act 1992. The levies are imposed on seafarer berths (a berth on a prescribed ship that is normally used by a seafarer) and payable by an employer who employs or engages seafarers on a prescribed ship. Revenue from levies is recognised when:

  1. the entity obtains control of the contribution or right to receive the contribution
  2. it is probable the economic benefits comprising the contribution will flow to the entity
  3. the amount can be measured reliably.