Page 5778 - Week 15 - Thursday, 10 December 2009

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$’000

Non ACT Business Incentive Fund

3,200

ACTBIF waivers

3,186

Damages claim

43

Bushfire Loan Subsidy

6

Note:

i. ACTBIF and Non-ACTBIF: The Department provides cash grants, payroll tax waivers, stamp duty waivers, rent waivers, and land discounts to various organisations. This financial assistance is contingent on organisations meeting milestones as detailed in individual contracts.

ii. Damages Claim: This is a potential damages claim as a result of theft of third party assets at an event.

iii. Bushfire Loan Subsidy: The ACT Government assembled a disaster relief package to assist all business sectors, including home-based, tourism and agri-businesses (including rural leaseholders) whose business assets were significantly damaged during the bushfires or resulting metropolitan fires that occurred in the ACT on or about 18 January 2003.

The Business Assistance Package included a subsidy for interest charged on private sector loans taken out by businesses and rural leaseholders to repair damage and to cover capital or intellectual property loss resulting from the fires. Seven affected businesses were assisted through the loan subsidy scheme over a five year period.

The contingent liability is estimated on the outstanding amounts that may be called on the subsidy. The final Loan Subsidy agreement is due for completion in 2010.

Finance—departmental assets and liabilities
(Question No 402)

Mr Seselja asked the Minister for Planning, upon notice, on 12 November 2009:

(1) What are the top ten assets, other than cash, for the Minister’s department ranked by value as at 30 June 2009 and what is the value of each asset.

(2) What are the top ten liabilities, other than employee benefits, for the department ranked by value as at 30 June 2009 and what is the value of each liability.

(3) If the liabilities referred to in part (2) are loans, (a) who is the loan with, (b) who facilitated the borrowing and (c) what is the interest rate for the loan.

(4) What are the top ten contingent liabilities in the Minister’s portfolio ranked by value.

Mr Barr: The answer to the member’s question is as follows:

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