Page 2155 - Week 06 - Thursday, 8 June 2017
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Ms Fitzharris: The answer to the member’s question is as follows:
(1) The light rail project is an availability payment based Public Private Partnership which uses a ‘securitised licence structure’ for payment of the project. Under this arrangement, the Territory does not pay for construction activities over the delivery phase, but it does pay for the GST on these activities as they are considered to be for services provided. As a consequence of using this structure, no cash passes between the Territory and Canberra Metro in this phase (other than in relation to GST amounts - which the Territory claims back from the Australian Taxation Office). The invoices processed to date amount to $22.48 million.
(2) No.
(3) A number of minor project modifications have been resolved with Canberra Metro to date with a net cost saving to the Territory of approximately $500,000.00. Other potential project modifications are subject of commercial discussions between the Territory and Canberra Metro.
(4) As described in the Project Summary available on the website, the monthly Service payments will commence in 2018/19 financial year and are reflected in the schedule below.
(5) Schedule annual availability payments:-
|
Financial Year Ended 30 June: |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
2026 |
2027 |
2028 |
2029 |
|
Availability Payments ($’000s)1 |
36,061 |
54,269 |
54,719 |
55,841 |
56,811 |
59,240 |
59,316 |
62,970 |
60,237 |
61,870 |
62,954 |
|
Financial Year Ended 30 June: |
2030 |
2031 |
2032 |
2033 |
2034 |
2035 |
2036 |
2037 |
2038 |
2039 |
2040 |
|
Availability Payments ($’000s)1 |
64,257 |
67,025 |
67,296 |
78,534 |
68,971 |
70,461 |
71,370 |
73,329 |
75,884 |
12,937 |
0 |
Note 1: Figures in Table 6 are in nominal (future) dollars
(6) 2 Business Days after the date on which the Certificate of Services Completion is issued, Project Co must deliver a notice, in the form of a valid Tax Invoice, to the Territory for the Territory Contribution to be paid (Territory Contribution Notice).
The Territory must pay the Territory Contribution to Project Co within 20 Business Days after receipt by the Territory of the Territory Contribution Notice which has been correctly given in accordance with clause 31 .2(a) by deposit into the Territory Contribution Account (as defined in the Finance Direct Deed).
As described in the Project Summary available on the website, the Territory Contribution is $375 million. It is forecast for payment in late 2018.
ACTION buses—disability access
(Question No 190)
Mr Coe asked the Minister for Transport and City Services, upon notice, on 12 May 2017:
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