Page 5747 - Week 17 - Thursday, 5 December 1991
Next page . . . . Previous page . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .
APPENDIX 2: (Incorporated in Hansard on 3 December-1991 at page 5387)
CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY
LEGISLATIVE ASSEMBLY QUESTION
Question Without Notice
MRS NOLAN - Asked the Treasurer without notice on 28 November 1991:
In relation to dividend payments, the ACT is looking like a 272% real increase which by far is the highest of other States. What percentage of those dividends is derived from lower costs, asset sales or higher charges.
MS FOLLETT - The answer to the Members question is as follows:
The increase in recurrent dividend_payments forecast in the 1991-92 estimates reflects the Governments desire to bring the level of dividends payable by ACT Authorities to levels equivalent to those payable by the State Government Authorities and is in line with the ACTs general move to financial arrangements consistent with those applying in the States.
The most significant increase is in the recurrent dividend payable by ACTEW which increased from $$.On in 1990-91 to $19m in 1991=92. It.should-be noted that a $4.OM one-off capital dividend was also paid by ACTEW in 1990•91. The level of ACTEW*s 1991-92 dividend was .calculated to recover a level of dividend and the tax equivalent payments which wouJ4 have been received from ACTEW if it had been corporatised. The additional dividend will be funded-from efficiencies him within Actins administration.
The ACTTAB Corporation, the ACT Milk Authority and Totalcare will gay dividends for the first time in 1991-92. The ACT Borrowing and Investment Trust Account will also.p4y a dividend for the fir:t time in 1991-92 reflecting returns achieved on the management of the Govertents borrowing anti investment activities.
In no instance will dividends be achieved through the sale of assets.
5747
Next page . . . . Previous page . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .