❓ Details payments made by Government Trading Enterprises (GTEs) - Horizon Power, Synergy, and Western Power - to the consolidated account under the principle of Competitive Neutrality, broken down by payment type and financial year.
AnsweredQoN 5400Legislative Assembly
QuestionView source ↗
I refer to all Government Trading Enterprises (GTEs) in the Minister's portfolio and ask: (a) what payments are made annually by each GTE to the consolidated account under the principle of Competitive Neutrality (i.e. please provide a list of payments such as taxation equivalents, loan guarantee fees, and any other payments required); and (b) with respect to the payments mentioned in answer to part (a), what was the basis for, and total amount of, all payments made to the consolidated account by each GTE in: (i) 2012/13; (ii) 2013/14; (iii) 2014/15; and (iv) 2015/16?
AnswerView source ↗
Answered
14 June 2016
Responded by
Minister for Energy
Response time
47 days
Horizon Power
(a)&(b) (i)-(iv)
Payments under the principle of Competitive Neutrality ($)
Items Financial Year
Income Tax Equivalent
Loan Guarantee Fee
Payroll Tax
Local Government Rates
Emergency Services Levy
Other State Taxes
Total
2012/2013
23,898,742
3,085,426
3,755,676
327,983
9,429
832,630
31,909,886
2013/2014
31,471,004
4,293,376
3,673,355
347,442
10,651
1,043,288
40,839,116
2014/2015
11,158,233
4,687,791
2,903,511
609,022
16,759
1,072,193
20,447,509
YTD 2015/2016
13,147,776
4,769,118
2,038,921
176,145
21,497
879,472
21,032,929
Synergy
(a)&(b) (i)-(iv)
Items Financial Year
Income Tax Equivalent*
Loan Guarantee Fee
Payroll Tax
Local Government Rates
Emergency Services Levy
Other State Taxes
Total
2012/2013
34,800,000
4,996,209
8,153,699
753,891
95,377
77,882
48,877,058^
2013/2014
55,300,000
3,900,000
6,936,474
689,671
202,921
118,115
67,147,181
2014/2015
23,800,000
1,700,000
9,748,248
604,276
79,846
122,130
36,054,500
2015/2016 (YTD March 2016)
5,531,711
1,500,000
6,371,060
453,678
65,588
76,723
13,998,760
^ Tally of Verve Energy and former Synergy payments
* Income tax equivalent for 2015-16 (YTD March 2016) based on YTD provisional tax expense. Western Power (a)&(b) (i)-(iv)
Type of payments
2015/16 ($’M)
2014/15 ($’M)
2013/14 ($’M)
2012/13 ($’M)
Loan guarantee fee
47.2
40.8
51.6
34.9
Annual local government equivalent rates, land tax and payroll tax
24.3
29.0
26.9
25.6
Dividend
232.4
131.9
124.4
102.1
Income tax equivalent
-
-
-
-
Total
303.9
201.7
202.9
162.6
(a)&(b) (i)-(iv)
Payments under the principle of Competitive Neutrality ($)
Items Financial Year
Income Tax Equivalent
Loan Guarantee Fee
Payroll Tax
Local Government Rates
Emergency Services Levy
Other State Taxes
Total
2012/2013
23,898,742
3,085,426
3,755,676
327,983
9,429
832,630
31,909,886
2013/2014
31,471,004
4,293,376
3,673,355
347,442
10,651
1,043,288
40,839,116
2014/2015
11,158,233
4,687,791
2,903,511
609,022
16,759
1,072,193
20,447,509
YTD 2015/2016
13,147,776
4,769,118
2,038,921
176,145
21,497
879,472
21,032,929
Synergy
(a)&(b) (i)-(iv)
Items Financial Year
Income Tax Equivalent*
Loan Guarantee Fee
Payroll Tax
Local Government Rates
Emergency Services Levy
Other State Taxes
Total
2012/2013
34,800,000
4,996,209
8,153,699
753,891
95,377
77,882
48,877,058^
2013/2014
55,300,000
3,900,000
6,936,474
689,671
202,921
118,115
67,147,181
2014/2015
23,800,000
1,700,000
9,748,248
604,276
79,846
122,130
36,054,500
2015/2016 (YTD March 2016)
5,531,711
1,500,000
6,371,060
453,678
65,588
76,723
13,998,760
^ Tally of Verve Energy and former Synergy payments
* Income tax equivalent for 2015-16 (YTD March 2016) based on YTD provisional tax expense. Western Power (a)&(b) (i)-(iv)
Type of payments
2015/16 ($’M)
2014/15 ($’M)
2013/14 ($’M)
2012/13 ($’M)
Loan guarantee fee
47.2
40.8
51.6
34.9
Annual local government equivalent rates, land tax and payroll tax
24.3
29.0
26.9
25.6
Dividend
232.4
131.9
124.4
102.1
Income tax equivalent
-
-
-
-
Total
303.9
201.7
202.9
162.6
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