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Annual Financial Statements for year ended 30 June 2012
42
Standards and Interpretations in issue not yet adopted
At the date of authorisation of the financial statements, the Standards and Interpretations listed below were
in issue but not yet effective.
2. Rates
Charge
2011-2012 $
2010-2011 $
General Rates
Differential general levy(1)
81,110,273
77,330,947
less Remissions and rebates
(2,095,367)
(2,003,211)
Net Levy
79,014,906
75,237,736
Differential general fines/interest
343,557
294,355
less Remissions
(8,210)
(7,897)
Net Fines and interest
335,347
286,457
Net Differential general rates
79,350,253
75,614,194
(1)Includes ex gratia
14,796
14,796
Other Rates
Environment Catchment Levy (Natural Resources Management)
Levy(2)
1,915,937
1,663,582
less Remissions and rebates
(38,503)
(32,888)
Net Levy
1,877,434
1,630,694
Fines and interest
448
27
less Remissions
0
0
Net Fines and interest
448
27
Net Environment Catchment levy
1,877,881
1,630,721
(2)Includes ex gratia
0
0
Other Rates Levy (New Haven Village Water Management)
Levy(3)
29,608
28,228
less Remissions and rebates
(2,268)
(2,051)
Net Levy
27,340
26,177
Fines and interest
28
15
less Remissions
0
0
Net Fines and interest
28
15
Net New Haven water levy
27,368
26,192
(3)Includes ex gratia
0
0
Total Other Rates
1,905,250
1,656,913
Total All Rates
81,255,503
77,271,107
Notes to the Financial Statements
Standard/Interpretation
Effective for annual Reporting
Periods Beginning on or after
Expected to be initially - Applied
in the financial Year ending
AASB 9 ‘Financial Instruments’, AASB 2009-11 ‘Amendments to Australian
Accounting Standards arising from AASB 9’ and AASB 2010-7 ‘Amendments
to Australian Accounting Standards arising from AASB 9 (December 2010)’
1 January 2013
30 June 2014
AASB 128 ‘Investments in Associates and Joint Ventures’ (2011)
1 January 2013
30 June 2014
AASB 13 ‘Fair Value Measurement’ and AASB 2011-8 ‘Amendments to
Australian Accounting Standards arising from AASB 13’
1 January 2013
30 June 2014
AASB 119 ‘Employee Benefits’ (2011) and AASB 2011-10 ‘Amendments to
Australian Accounting Standards arising from AASB 119 (2011)’
1 January 2013
30 June 2014
AASB 2011-9 ‘Amendments to Australian Accounting Standards –
Presentation of Items of Other Comprehensive Income’
1 July 2012
30 June 2013
At the date of authorisation of the financial statements, the following IASB Standards and IFRIC Interpretations were also
in issue but not yet effective, although Australian equivalent Standards and Interpretations have not yet been issued.
Standard/Interpretation
Effective for annual - Reporting Periods
Beginning on or after
Expected to be initially - Applied in the
financial Year ending
AASB2012-3 Offsetting Financial Assets and Financial
Liabilities (Amendments to IAS 32)
1 January 2014
30 June 2015
AASB2012-2 Disclosures – Offsetting Financial Assets and
Financial Liabilities (Amendments to IFRS 7)
1 January 2013
30 June 2014
Mandatory Effective Date of IFRS 9 and
Transition Disclosures (Amendments to IFRS 9 and IFRS 7)
1 January 2015
30 June 2016