Reports of Treasury’s expenditure on consultancies, language services and overseas travel are published on the Open Data website data.qld.gov.au.
External audits and reviews aid transparency in government, help Treasury improve its performance, and help Treasury monitor our progress in advancing Queensland’s priorities.
The following reports of independent reviews were tabled in Parliament during 2018–19:
That all departments:
Queensland Treasury will continue to:
Queensland Treasury and its entities received an unmodified audit opinion on its financial statements.
In December 2018 the Office of the Information Commissioner (OIC) commissioned two agency self-assessment audits:
Departmental responses to the audit were aggregated by OIC and the results tabled in Parliament. Subsequently OIC provided departments with a scorecard detailing the departments’ average self-assessed maturity.
Treasury’s maturity fell in the ‘developing group’. Since September 2018, 12 maturity targets have been satisfied with 33 remediation activities on track to be completed by 30 June 2020.
The objective of the self-assessment audit was to determine agency conformity with the Right to Information Act 2009 and the Information Privacy Act 2009. These aim to ensure departments make government information available, while protecting individual privacy and other public interests.
The self-assessment audit resulted in Queensland Treasury requiring action on only nine items out of a total of 231 responses. All areas will be completed during 2019.
We produce a range of publications, guidelines, and other useful resources about:
Business Development Fund
A state tax on certain transactions including transfer of property (transfer duty), vehicle registration, insurance contracts and other acquisitions.
Treasury’s Executive Leadership Team
Financial Provisioning Scheme/Fund
A scheme introduced in 2018 to address Queensland’s abandoned mine legacy by improving environmental and mine rehabilitation while reducing the financial risk to the state associated with the resource sector.
Horizontal fiscal equalisation (HFE)
A process to address the differences between states’ and territories’ ability and capacity to raise revenue. Australia’s Commonwealth Grants Commission states that HFE ‘aims to put all states on a level fiscal playing field’.
State tax on freehold land, assessed on the taxable value of an owner’s total land holdings. In Queensland, landowners are entitled to an exemption from land tax for the land they use as their home.
Northern Australia Infrastructure Facility
A statutory body that compensates people injured by unidentified and uninsured vehicles.
Office of State Revenue
State tax paid if an employer, or group of employers, pays more than $1.1 million per year in total Australian taxable wages.
From 2019–20, the payroll tax rate will increase to $1.3 million in total Australian taxable wages.
In the context of major infrastructure, one who puts forward a proposition or proposal.
Queensland Audit Office
Queensland Competition Authority, an independent economic regulator whose primary role is to ensure monopoly businesses operating in Queensland, particularly those that provide key infrastructure (for example rail, water or transport infrastructure), do not abuse their market power through unfair pricing or restrictive access arrangements.
Queensland Productivity Commission, a body established to drive economic growth and lift productivity and living standards by advising on complex economic and regulatory issues. Royalty revenue
Royalties are payments to the owners of a resource for the right to sell, dispose of or use that resource. In the context of Treasury’s revenue management service, these resources are usually from petroleum, coal and other mining activities.
State Penalties Enforcement Registry (SPER)
Part of the Office of State Revenue, SPER collects and enforces unpaid infringement notice fines, court- ordered monetary penalties, offender debt recovery orders and offender levies issued in Queensland.
Third party access
Third party access provides a legislated right for a party (the third party) to use another person’s infrastructure. For example, a mining company may seek to transport minerals from its mines to a port via a rail line owned and operated by someone else. Third party access may need to be regulated where owners or operators of significant natural monopoly infrastructure have the potential to deny access to their facilities or charge excessive prices, which would hinder or prevent competition in a dependent market.
Vehicle Immobilisation Seizure and Sale program, in which vehicles of high-value fine debtors are immobilised through wheel clamping and/or seized and sold to recoup unpaid penalty debt.
Work and development order (WDO)
A means for resolving penalty debt. WDOs allow eligible debtors in financial hardship who are unable to pay a fine to resolve their debt through unpaid community work