Portfolio Overview

Treasury portfolio overview

There has been no significant change to the portfolio overview, portfolio responsibilities or agency outcomes from that included in the Portfolio Budget Statements 2012-13 (pages 3-5).

Additional estimates are being sought for the Department of the Treasury, the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission and the Australian Taxation Office. Explanations of additional estimates for these agencies are detailed in their respective section in the Portfolio Additional Estimates Statements.

There are no additional estimates for the Australian Bureau of Statistics, the Australian Competition and Consumer Commission, the Australian Office of Financial Management, the Commonwealth Grants Commission, the Corporations and Markets Advisory Committee, the Inspector-General of Taxation, the National Competition Council, the Office of the Auditing and Assurance Standards Board, the Office of the Australian Accounting Standards Board, the Productivity Commission or the Royal Australian Mint.

Figure 1: Treasury portfolio structure and outcomes

Portfolio Minister — Deputy Prime Minister and Treasurer

The Hon Wayne Swan MP

Assistant Treasurer

The Hon David Bradbury MP

Minister for Financial Services and Superannuation

The Hon Bill Shorten MP

Minister for Housing

The Hon Brendan O’Connor MP

Parliamentary Secretary to the Treasurer

The Hon Bernie Ripoll MP

Department of the Treasury

Secretary: Dr Martin Parkinson

Informed decisions on the development and implementation of policies to improve the wellbeing of the Australian people, including by achieving strong, sustainable economic growth, through the provision of advice to government and the efficient administration of federal financial relations

Australian Bureau of Statistics

Statistician: Mr Brian Pink

Informed decisions, research and discussion within governments and the community by leading the collection, analysis and provision of high quality, objective and relevant statistical information

Australian Competition and Consumer Commission

Chairman: Mr Rod Sims

Lawful competition, consumer protection, and regulated national infrastructure markets and services through regulation, including enforcement, education, price monitoring and determining the terms of access to infrastructure services

Australian Office of Financial Management

Chief Executive Officer: Mr Rob Nicholl

The advancement of macroeconomic growth and stability, and the effective operation of financial markets, through issuing debt, investing in financial assets and managing debt, investments and cash for the Australian Government

Australian Prudential Regulation Authority

Chairman: Dr John Laker AO

Enhanced public confidence in Australia’s financial institutions through a framework of prudential regulation which balances financial safety and efficiency, competition, contestability and competitive neutrality

Australian Securities and Investments Commission

Chairman: Mr Greg Medcraft

Improved confidence in Australia’s financial markets through promoting informed investors and financial consumers, facilitating fair and efficient markets and delivering efficient registry systems

Australian Taxation Office

Commissioner: Mr Chris Jordan AO

Confidence in the administration of aspects of Australia’s taxation and superannuation systems through helping people understand their rights and obligations, improving ease of compliance and access to benefits, and managing non-compliance with the law

Commonwealth Grants Commission

Secretary: Mr John Spasojevic

Informed Government decisions on fiscal equalisation between the States and Territories through advice and recommendations on the distribution of GST revenue and health care grants

Corporations and Markets Advisory Committee

Convenor: Ms Joanne Rees

Informed decisions by Government on issues relating to corporations regulation and financial products, services and markets through independent and expert advice

Inspector-General of Taxation

Inspector-General: Mr Ali Noroozi

Improved tax administration through community consultation, review and independent advice to Government

National Competition Council

President: Mr David Crawford

Competition in markets that are dependent on access to nationally significant monopoly infrastructure, through recommendations and decisions promoting the efficient operation of, use of and investment in infrastructure

Office of the Auditing and Assurance Standards Board

Chairman: Ms Merran Kelsall

The formulation and making of auditing and assurance standards that are used by auditors of Australian entity financial reports or for other auditing and assurance engagements

Office of the Australian Accounting Standards Board

Chairman: Mr Kevin Stevenson

The formulation and making of accounting standards that are used by Australian entities to prepare financial reports and enable users of these reports to make informed decisions

Productivity Commission

Chairman: Mr Michael Woods (acting until March 2013)
Mr Peter Harris (from March 2013)

Well-informed policy decision-making and public understanding on matters relating to Australia’s productivity and living standards, based on independent and transparent analysis from a community-wide perspective

Royal Australian Mint

Chief Executive Officer: Mr Ross MacDiarmid

The coinage needs of the Australian economy, collectors and foreign countries are met through the manufacture and sale of circulating coins, collector coins and other minted like products

Portfolio resources

Table 1 shows a summary of resources for those agencies that are seeking funding through Appropriation Bills (No. 3 and No. 4) 2012-13.

Table 1: Portfolio resources 2012-13
	Appropriation		Movements		Total
	Bill No. 3 $'000	Bill No. 4 $'000	Special $'000	Receipts $'000	$'000
Department of the Treasury
Administered appropriations	14,928	-	-	-	14,928
Departmental appropriations	3,666	-	-	-	3,666
Total:	18,594	-	-	-	18,594
Australian Prudential Regulation Authority
Administered appropriations	-	-	-	-	-
Departmental appropriations	722	-	-	-	722
Total:	722	-	-	-	722
Australian Securities and Investments Commission
Administered appropriations	-	-	-	-	-
Departmental appropriations	9,003	-	-	-	9,003
Total:	9,003	-	-	-	9,003
Australian Taxation Office
Administered appropriations	250	-	-	-	250
Departmental appropriations	18,995	1,674	-		20,669
Total:	19,245	1,674	-	-	20,919

Next: Department of the Treasury
Previous: Portfolio Additional Estimates Statements 2012-13
Return to: Home