Annual Report 2016-2017 Department of the Legislative Assembly
Tabled paper 405
Tabled papers for 13th Assembly 2016 - 2020; Tabled papers; ParliamentNT
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DEPARTMENT OF THE LEGISLATIVE ASSEMBLY NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 DLA Annual Report 2016-17 Page 33 recoverable from the Australian Tax Office (ATO). In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of the expense. Receivables and payables are stated with the amount of GST included. The net amount of GST recoverable from, or payable to, the ATO is included as part of receivables or payables in the Balance Sheet. Cash flows are included in the Cash Flow Statement on a gross basis. The GST components of cash flows arising from investing and financing activities, which are recoverable from, or payable to, the ATO are classified as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable or payable unless otherwise specified. j) Contributions by and Distributions to Government The agency may receive contributions from Government where the Government is acting as owner of the agency. Conversely, the agency may make distributions to Government. In accordance with the Financial Management Act and Treasurers Directions, certain types of contributions and distributions, including those relating to administrative restructures, have been designated as contributions by, and distributions to, Government. These designated contributions and distributions are treated by the agency as adjustments to equity. The Statement of Changes in Equity provides additional information in relation to contributions by, and distributions to, Government.
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