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House of Assembly - Fifty-First Parliament, Second Session (51-2)
2008-07-03 Daily Xml
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PUBLIC NON-FINANCIAL CORPORATIONS

238 Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (23 October 2007). What are the forward estimate distributions from each of the public non-financial corporations from 2007-08 to 2010-11?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I am advised that distributions from Public Non-Financial Corporations include dividends and tax equivalents.

Tax equivalents are payments equivalent to Commonwealth income tax and local government rates, which the entity would be liable to pay if it were not an instrumentality of the Crown in right of the State of South Australia.

At the time of the 2007-08 Budget, total distributions from the PNFC sector were forecast to be $365.4 million in 2007-08, $398.6 million in 2008-09, $392.2 million in 2009-10 and $422.9 million in 2010-11, as published in Table 3.18 of the 2007-08 Budget Statement, Budget Paper 3.

Distributions from SA Water, the Land Management Corporation and ForestrySA accounted for approximately 95 per cent of total PNFC distributions across the forward estimates.

Total distributions from the PNFC sector were forecast to comprise(a):

Distributions ($m)(b) 2007-08 2008-09 2009-10 2010-11
South Australian Water Corporation 277.0 318.2 334.7 350.3
Land Management Corporation 41.5 32.0 12.4 29.8
ForestrySA 30.4 34.2 30.7 28.1
Lotteries Commission of South Australia(c) 7.9 7.6 7.4 7.5
South Australian Government Employee Residential Properties 3.1 3.1 3.1 3.2
Public Trustee 2.5 2.9 3.3 3.6
Electricity Lease Entities 2.3 — — —
West Beach Trust 0.4 0.5 0.5 0.5
TransAdelaide 0.1 0.1 0.1 0.1
Total 365.4 398.6 392.2 422.9


(a) Totals may not add due to rounding.

(b) Includes dividends, income tax equivalents and local government rate equivalents.

(c) Excludes dividends from the Lotteries Commission of South Australia.

Total distributions from the PNFC sector exclude dividends from the Lotteries Commission of South Australia, which are classified as taxation revenue, rather than distributions, in accordance with the ABS Government Finance Statistics Framework.

At the time of the 2007-08 Budget, dividends from the Lotteries Commission were forecast to be $18.1 million in 2007-08, $18.0 million 2008-09, $16.9 million in 2009-10 and $16.7 million 2010-11.

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