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  • Statement of comprehensive income

    Statement of comprehensive income for the period ended 30 June 2018
      Note 2018$'000 2017$'000 Original budget$'000

    NET COST OF SERVICES

    Expenses

    Employee benefits 1A 1,977,679 1,858,411 1,879,652
    Suppliers 1B 1,384,067 1,466,854 1,445,744
    Depreciation and amortisation 4A 197,626 192,011 174,355
    Finance costs 1C 1,303 1,226 -
    Write-down and impairment of assets1 1D 20,242 12,639 -
    Other expenses 1E 563 7,418 -
    Total expenses   3,581,480 3,538,559 3,499,751

    Own-Source Income

    Own-Source revenue

    Rendering of services 1
    2A 107,942 119,200 97,980
    Rental income 2B 29,871 21,820 24,020
    Other revenue 2C  9,471 3,532 3,693
    Total own-source revenue   147,266 144,552 125,693
    Gains
    Other gains 2D 10
    21501 -
    Total gains   10 21501 -
    Total own-source income   147,276 166,053 125,693
    Net cost of services   (3,434,204) (3,372,506) (3,374,058)
    Revenue from Government 2E 3,199,160 3,197,797 3,199,703
    Deficit on continuing operations   (235,044) (174,709) (174,355)
    Deficit 
      (235,044) (174,709) (174,355)

    OTHER COMPREHENSIVE INCOME

    Items not subject to subsequent reclassification to net cost of services

    Revaluation of restoration obligations provision   (118) (23) -
    Other changes in asset revaluation reserves   - - -
    Total other comprehensive income   (118) (23) -
    Total comprehensive loss   (235,162) (174,732) (174,355)
    1 Prior year adjustments have been made to these numbers. Refer to Overview.

    Budget Variances Commentary: Statement of Comprehensive Income

    Affected line items Explanation of major variances
    Employee benefit The timing of the adoption of the ATO Enterprise Agreement 2017 and associated pay rise and higher than expected separation and redundancies costs towards the end of 2017-18 have resulted in a higher than expected actual.
    Suppliers The lower than expected actual is driven by reduced expenditure on contractors and consultants combined with a lower than expected Workers’ compensation premium expense.
    Depreciation and amortisation Higher computer software asset additions has resulted in a higher than expected depreciation charge.
    Rendering of services Higher than anticipated recovery of legal costs have resulted in increased revenue for rendering of services.
    Rental income Higher than budgeted rental income is a result of new rental agreements with other Government agencies that were not known at the time the budget was prepared.
    Other revenue The variance is driven by a refund of prior year Workers' compensation premium that was not factored in the budget.

    Accounting Policy

    The above statement should be read in conjunction with the accompanying notes.

      Last modified: 26 Oct 2018QC 57037