Financial tables presented in this Appendix are prepared in accordance with the Australian Bureau of Statistics' (ABS) accrual Government Finance Statistics (GFS) framework.
The tables include an operating statement, balance sheet and cash flow statement for the Australian Government general government, public non‑financial corporations and total non‑financial public sectors. A statement of other economic flows is also included for the Australian Government general government sector.
The Australian, State and Territory Governments have an agreed framework — the Accrual Uniform Presentation Framework — for the presentation of government financial information on a basis consistent with the ABS GFS publication. This Appendix presents Australian Government data on an ABS GFS basis, as required by the Accrual Uniform Presentation Framework, except for the departures (other than in relation to the treatment of goods and services tax (GST)) detailed in Attachment A to Part 4.
The only difference between the Australian Government general government sector statements in Part 4 and this Appendix is the treatment of the GST. The clear policy intent of the Intergovernmental Agreement on the Reform of Commonwealth‑State Financial Relations is that GST is collected by the Australian Taxation Office, as an agent for the States and Territories (the States), and appropriated to the States. Consequently, it is not shown as Australian Government revenue in other parts in this document. However, the tables in this Appendix show GST as taxation revenue and payments to the States as grant expenses.
As a result of the different treatments of GST related transactions, fiscal balance, net operating balance and net worth estimates in this Appendix differ from those reported elsewhere in this document. This difference represents the effect of GST revenue accrued but not yet received and, therefore, not yet paid or payable to the States (as GST obligations to the States are on a cash basis).1 The cash flows presented in this statement include GST (except in respect to GST flows internal to the general government sector). The GFS cash surplus/deficit is not affected and provides identical results under both treatments of GST receipts.
Transactions between the Australian Government general government and public non‑financial corporations sectors are included in the relevant tables, but removed from the total non‑financial public sector tables as they are transactions internal to that sector.
Computer software and other intangibles are recorded at historic costs, as an active market is not observable for such assets. This affects the public non‑financial corporations sector balance sheet, but does not affect the general government sector balance sheet.
Appendix E provides reconciliations between key GFS aggregates and their Australian Accounting Standards counterparts.
In accordance with Accrual Uniform Presentation Framework requirements, this Appendix also contains an update of the Australian Government's Loan Council Allocation.
1 Table E3 in Appendix E shows the difference in the net operating and fiscal balance estimates resulting from the two treatments. The change in expenses when moving between the two GFS presentations of the estimates is less than the change in revenue.