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Australian Government Coat of Arms

Budget | 2014-15

Budget 2014-15
Australian Government Coat of Arms, Budget 2014-15

Appendix D: Debt Transactions

The Commonwealth holds a stock of around $2.8 billion in loans advanced to the States. The States make interest payments and repayments to the Commonwealth in respect of these loans.

The Commonwealth advances the States loans under a range of agreements. These advances have often been over very long repayment periods (some in excess of 50 years), although the terms of each agreement vary considerably.

Most of the interest payments and repayments relate to housing and infrastructure. Payments are also made against loans under agreements for natural disasters and other purposes administered by various Commonwealth agencies.

Total advances, interest and repayments from the States to the Commonwealth are shown in Table D.1.

Table D.1: Summary of advances, interest and repayments, by year and State
$'000 NSW VIC QLD WA SA TAS ACT NT Total
Outstanding loans as at 30 June 2013                  
Contingent Liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund 14,850 - - - - - - - 14,850
Natural disaster relief 118 - 30,203 - - - - - 30,321
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - 9,427 9,427
Housing                  
Commonwealth-State Housing Agreement loans 670,442 - 192,073 180,415 48,324 93,839 - 27,217 1,212,310
Housing for service personnel 44,801 - 25,139 4,723 2,001 - - - 76,664
Other housing - - - - - - 162,493 55,886 218,379
Infrastructure                  
Railway projects - - - 1,601 - - - - 1,601
Sewerage 14,857 - 3,982 - 3,418 - - - 22,257
Other purposes                  
Australian Capital Territory debt repayments - - - - - - 5,543 - 5,543
Loan Council — housing nominations 411,128 - 147,677 252,271 178,475 109,002 - 143,764 1,242,317
2013‑14                  
Advances                  
Contingent Liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund 37,800 - - - - - - - 37,800
Natural disaster relief 33,118 - 72,427 - - - - - 105,545
Repayments                  
Contingent liabilities                  
Natural disaster relief -145 - -8,234 - - - - - -8,379
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -136 -136
Housing                  
Commonwealth-State Housing Agreement loans -36,710 - -9,790 -9,294 -2,338 -4,945 - -758 -63,835
Housing for service personnel -1,413 - -874 -238 -47 - - - -2,572
Other housing - - - - - - -7,619 -2,572 -10,191
Infrastructure                  
Railway projects - - - -350 - - - - -350
Sewerage -7,004 - -1,746 - -1,165 - - - -9,915
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -554 - -554
Loan Council — housing nominations -8,211 - -3,021 -5,237 -3,435 -2,202 - -2,733 -24,839
Interest                  
Contingent liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund -1,777 - - - - - - - -1,777
Natural disaster relief -42 - -866 - - - - - -908
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -440 -440
Housing                  
Commonwealth-State Housing Agreement loans -35,608 - -10,118 -9,540 -2,715 -4,961 - -1,414 -64,356
Housing for service personnel -2,010 - -1,125 -211 -90 - - - -3,436
Other housing - - - - - - -7,312 -3,170 -10,482
Infrastructure                  
Railway projects - - - -96 - - - - -96
Sewerage -1,404 - -416 - -326 - - - -2,146
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -697 - -697
Loan Council — housing nominations -21,054 - -7,532 -12,879 -9,071 -5,555 - -7,301 -63,392
Net Financial Flow -44,460 - 28,705 -37,845 -19,187 -17,663 -16,182 -18,524 -125,156
2014‑15                  
Advances                  
Contingent Liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund 50,000 - - - - - - - 50,000
Natural disaster relief 1,722 - 23,832 - - - - - 25,554
Repayments                  
Contingent liabilities                  
Natural disaster relief -402 - -10,567 - - - - - -10,969
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -136 -136
Housing                  
Commonwealth-State Housing Agreement loans -37,096 - -9,920 -9,424 -2,463 -5,028 - -792 -64,723
Housing for service personnel -1,503 - -915 -248 -52 - - - -2,718
Other housing - - - - - - -7,755 -2,703 -10,458
Infrastructure                  
Railway projects - - - -324 - - - - -324
Sewerage -7,703 - -1,919 - -1,037 - - - -10,659
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -555 - -555
Loan Council — housing nominations -8,581 - -3,157 -5,473 -3,590 -2,301 - -2,856 -25,958
Interest                  
Contingent liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund -4,433 - - - - - - - -4,433
Natural disaster relief -593 - -1,896 - - - - - -2,489
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -555 -555
Housing                  
Commonwealth-State Housing Agreement loans -33,794 - -9,643 -9,084 -2,588 -4,720 - -1,381 -61,210
Housing for service personnel -1,947 - -1,087 -200 -88 - - - -3,322
Other housing - - - - - - -6,969 -2,918 -9,887
Infrastructure                  
Railway projects - - - -76 - - - - -76
Sewerage -705 - -242 - -189 - - - -1,136
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -627 - -627
Loan Council — housing nominations -20,720 - -7,407 -12,661 -8,931 -5,464 - -7,189 -62,372
Net Financial Flow -65,755 - -22,921 -37,490 -18,938 -17,513 -15,906 -18,530 -197,053
2015‑16                  
Advances                  
Contingent Liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund 25,000 - - - - - - - 25,000
Natural disaster relief - - - - - - - - -
Repayments                  
Contingent liabilities                  
Natural disaster relief -4,461 - -10,567 - - - - - -15,028
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -136 -136
Housing                  
Commonwealth-State Housing Agreement loans -37,130 - -9,955 -9,543 -2,596 -5,052 - -828 -65,104
Housing for service personnel -1,595 - -976 -263 -57 - - - -2,891
Other housing - - - - - - -7,854 -2,839 -10,693
Infrastructure                  
Railway projects - - - -287 - - - - -287
Sewerage -1,342 - -964 - -648 - - - -2,954
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -555 - -555
Loan Council — housing nominations -8,967 - -3,299 -5,719 -3,751 -2,404 - -2,985 -27,125
Interest                  
Contingent liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund -6,738 - - - - - - - -6,738
Natural disaster relief -617 - -2,118 - - - - - -2,735
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -548 -548
Housing                  
Commonwealth-State Housing Agreement loans -31,943 - -9,156 -8,618 -2,452 -4,472 - -1,345 -57,986
Housing for service personnel -1,881 - -1,047 -189 -86 - - - -3,203
Other housing - - - - - - -6,620 -2,781 -9,401
Infrastructure                  
Railway projects - - - -58 - - - - -58
Sewerage -104 - -71 - -91 - - - -266
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -558 - -558
Loan Council — housing nominations -20,366 - -7,273 -12,429 -8,781 -5,366 - -7,072 -61,287
Net Financial Flow -90,144 - -45,426 -37,106 -18,462 -17,294 -15,587 -18,534 -242,553
2016‑17                  
Advances                  
Contingent Liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund - - - - - - - - -
Natural disaster relief - - - - - - - - -
Repayments                  
Contingent liabilities                  
Natural disaster relief -4,655 - -13,731 - - - - - -18,386
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -136 -136
Housing                  
Commonwealth-State Housing Agreement loans -37,268 - -10,033 -9,596 -2,736 -5,105 - -865 -65,603
Housing for service personnel -1,697 - -1,037 -277 -63 - - - -3,074
Other housing - - - - - - -7,972 -2,983 -10,955
Infrastructure                  
Railway projects - - - -224 - - - - -224
Sewerage - - -52 - -340 - - - -392
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -555 - -555
Loan Council — housing nominations -9,370 - -3,447 -5,976 -3,920 -2,512 - -3,119 -28,344
Interest                  
Contingent liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund -7,242 - - - - - - - -7,242
Natural disaster relief -543 - -1,790 - - - - - -2,333
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -542 -542
Housing                  
Commonwealth-State Housing Agreement loans -30,078 - -8,665 -8,142 -2,309 -4,222 - -1,307 -54,723
Housing for service personnel -1,810 - -1,004 -178 -83 - - - -3,075
Other housing - - - - - - -6,267 -2,637 -8,904
Infrastructure                  
Railway projects - - - -42 - - - - -42
Sewerage - - - - -38 - - - -38
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -488 - -488
Loan Council — housing nominations -19,992 - -7,133 -12,184 -8,623 -5,264 - -6,946 -60,142
Net Financial Flow -112,655 - -46,892 -36,619 -18,112 -17,103 -15,282 -18,535 -265,198
2017‑18                  
Advances                  
Contingent Liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund - - - - - - - - -
Natural disaster relief - - - - - - - - -
Repayments                  
Contingent liabilities                  
Natural disaster relief -4,655 - -16,710 - - - - - -21,365
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -136 -136
Housing                  
Commonwealth-State Housing Agreement loans -37,531 - -10,109 -9,737 -2,883 -5,151 - -904 -66,315
Housing for service personnel -1,813 - -1,089 -287 -69 - - - -3,258
Other housing - - - - - - -8,131 -3,135 -11,266
Infrastructure                  
Railway projects - - - -161 - - - - -161
Sewerage - - - - -168 - - - -168
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -555 - -555
Loan Council — housing nominations -9,792 - -3,602 -6,246 -4,096 -2,626 - -3,260 -29,622
Interest                  
Contingent liabilities                  
Loan to NSW to assist beneficiaries of the Asbestos Injuries Compensation Fund -7,612 - - - - - - - -7,612
Natural disaster relief -465 - -1,511 - - - - - -1,976
Environment                  
Northern Territory — water and sewerage assistance - - - - - - - -535 -535
Housing                  
Commonwealth-State Housing Agreement loans -28,189 - -8,166 -7,660 -2,158 -3,966 - -1,268 -51,407
Housing for service personnel -1,735 - -958 -166 -80 - - - -2,939
Other housing - - - - - - -5,908 -2,486 -8,394
Infrastructure                  
Railway projects - - - -29 - - - - -29
Sewerage - - - - -14 - - - -14
Other purposes                  
Australian Capital Territory debt repayments - - - - - - -418 - -418
Loan Council — housing nominations -19,595 - -6,984 -11,925 -8,456 -5,156 - -6,813 -58,929
Net Financial Flow -111,387 - -49,129 -36,211 -17,924 -16,899 -15,012 -18,537 -265,099