LOCAL GOVERNMENT DISASTER FUND

171 Dr McFETRIDGE (Morphett) (31 July 2007). How much Government expenditure has been allocated to the Local Government Disaster Fund in each year since 1999?

The Hon. J.M. RANKINE (Wright—Minister for State/Local Government Relations, Minister for the Status of Women, Minister for Volunteers, Minister for Consumer Affairs, Minister Assisting in Early Childhood Development): I provide the following information:

The Local Government Disaster Fund is an interest bearing Special Deposit Account held at the Department of Treasury and Finance (DTF) under the Public Finance and Audit Act 1987. Until 2001, a levy of 0.005 per cent was added to the State’s Financial Institutions Duty (FID) collections and paid into the Fund ($6.5 million in 1999-2000 and $6.6 million in 2000-01). The FID was abolished in 2001 as part of national taxation reforms.

The payments made by the Government into the Fund since the FID was abolished have been the interest earnt on balances held in the Fund. Since 1999 a total of $15.9 million interest has been paid to the Fund as follows:

$1.3 million (1999-2000);

$1.9 million (2000-01);

$1.7 million (2001-02);

$1.8 million (2002-03);

$2 million (2003-04);

$2.2 million (2004-05);

$2.4 million (2005-06) and

$2.6 million (2006-07).