Table 10: Operating statement
| For the year ended 30 June 2025 | 2024–25 $’000 |
2023–24 $’000 |
|---|---|---|
| Income from transactions | ||
| Revenue from government* | 258,505 | 229,408 |
| Sales of goods and services | 707 | 612 |
| Payments to consolidated fund | (415) | (484) |
| Total income from transactions | 258,797 | 229,536 |
| Expenses from transactions | ||
| Employee benefits | 129,135 | 102,645 |
| Supplies and services | 103,927 | 108,961 |
| Depreciation and amortisation | 8,915 | 7,530 |
| Interest expenses | 14 | 16 |
| Total expenses from transactions | 241,991 | 219,152 |
| Net result from transactions | 16,806 | 10,384 |
| Other economic flows in net result | ||
| Net gains/(losses) on financial instruments | (28) | (22) |
| Net gains/(losses) on non-financial assets | 13 | 100 |
| Other gains/(losses) on other economic flows | 107 | 244 |
| Total other economic flows in net result | 92 | 322 |
| Net surplus/(deficit) for reporting period | 16,898 | 10,706 |
| * Revenue from government represents the output budget allocated to the SRO. | ||
Notes to the operating statement
- The increase of $26.4 million in employee benefits was mainly due to an overall increase in full-time equivalent numbers associated with compliance programs, in conjunction with Enterprise Agreement increases and costs associated with the mental health and wellbeing surcharge and the COVID debt levy – payroll $10m+.
- The decrease of $5.0 million in supplies and services was mainly associated with a reduction in municipal valuation payments.
- The increase of $1.3 million in depreciation and amortisation was mainly due to amortisation associated with software development.
- Expenses from transactions exclude $0.7 million in relation to the administration of the growth area infrastructure contribution, which is operated through a Treasury Trust.
Table 11: Balance sheet
| As at 30 June 2025 | 2024–25 $’000 |
2023–24 $’000 |
|---|---|---|
| Financial assets | ||
| Cash assets | - | - |
| Receivables | 94,000 | 99,004 |
| Total financial assets | 94,000 | 99,004 |
| Non-financial assets | ||
| Plant, property and equipment | 77 | 60 |
| Intangible assets | 42,473 | 44,233 |
| Other | 5,151 | 4,679 |
| Total non-financial assets | 47,701 | 48,972 |
| Total assets | 141,701 | 147,976 |
| Liabilities | ||
| Payables | 28,632 | 53,185 |
| Interest-bearing liabilities | 473 | 1,159 |
| Provisions | 32,574 | 28,229 |
| Total liabilities | 61,679 | 82,573 |
| Net assets | 80,022 | 65,403 |
Notes to the balance sheet
Table 12: Receivables
| 2024–25 $’000 |
2023–24 $’000 |
|
|---|---|---|
| Amounts owing from Victorian Government | 92,008 | 95,061 |
| GST input tax credit recoverable | 1,394 | 1,904 |
| Other receivables | 598 | 2,039 |
| Total receivables | 94,000 | 99,004 |
Table 13: Written-down value of property, plant and equipment
| 2024–25 $’000 |
2023–24 $’000 |
|
|---|---|---|
| Computer equipment | 77 | 60 |
| Plant, furniture and equipment | - | - |
| Leasehold improvements/fit-outs | - | - |
| Total written-down value of property, plant and equipment | 77 | 60 |
Table 14: Written-down value of intangible assets
| 2024–25 $’000 |
2023–24 $’000 |
|
|---|---|---|
| Other intangible produced assets* | 34,753 | 28,809 |
| Work in progress* | 7,720 | 15,424 |
| Total written-down value of intangible assets | 42,473 | 44,233 |
| * Capitalised and uncapitalised expenditure on e-Sys life extension project. | ||
Table 15: Other non-financial assets
| 2024–25 $’000 |
2023–24 $’000 |
|
|---|---|---|
| Prepayments | 4,554 | 3,489 |
| Right of use plant and equipment | 258 | 904 |
| Motor vehicle leased | 339 | 286 |
| Total other non-financial assets | 5,151 | 4,679 |
Table 16: Payables
| 2024–25 $’000 |
2023–24 $’000 |
|
|---|---|---|
| Unpresented cheques | (1,322) | (954) |
| Trade creditors | 5,152 | 5,814 |
| Accruals | 19,960 | 43,620 |
| Other payables | 4,842 | 4,705 |
| Total payables | 28,632 | 53,185 |
Table 17: Interest-bearing liabilities
| 2024–25 $’000 |
2023–24 $’000 |
|
|---|---|---|
| Current liabilities | ||
| Right of use lease liabilities | 132 | 622 |
| Motor vehicle leases | 127 | 101 |
| Total current liabilities | 259 | 723 |
| Non-current liabilities | ||
| Right of use lease liabilities | - | 251 |
| Motor vehicle leases | 214 | 185 |
| Total non-current liabilities | 214 | 436 |
| Total interest-bearing liabilities | 473 | 1,159 |
Table 18: Provisions
| 2024–25 $’000 |
2023–24 $’000 |
|
|---|---|---|
| Current provisions | ||
| Annual leave | 8,433 | 7,660 |
| Long service leave | 15,393 | 14,188 |
| Other employee entitlements | 5,256 | 3,696 |
| Total current provisions | 29,082 | 25,544 |
| Non-current provisions | ||
| Long service leave | 3,492 | 2,685 |
| Total non-current provisions | 3,492 | 2,685 |
| Total provisions | 32,574 | 28,229 |
Administered items
Table 19: Administered revenues
| Administered revenues | 2024–25 $’000 |
2023–24 $’000 |
|---|---|---|
| Payroll tax | 10,265,590 | 9,643,104 |
| COVID debt levy – payroll $10m+ | 1,259,244 | 1,110,048 |
| Mental health and wellbeing surcharge | 1,259,212 | 1,200,575 |
| Duties* | 11,466,072 | 10,514,281 |
| Land tax | 6,117,612 | 5,933,008 |
| COVID debt levy – landholdings | 1,131,781 | 1,164,231 |
| Congestion levy | 122,774 | 117,012 |
| Growth areas infrastructure contribution | 184,202 | 254,711 |
| Windfall gains tax | 14,837 | 113,799 |
| Metropolitan planning levy | 24,066 | 19,793 |
| Fire services property levy | 1,030,588 | 839,496 |
| Commercial passenger vehicle service levy | 85,919 | 73,194 |
| Short stay levy | 19,104 | - |
| Wagering and betting tax | 353,343 | 242,442 |
| Keno tax | 12,407 | 12,593 |
| Casino tax | 176,977 | 158,292 |
| Community benefit levy | 9,605 | 8,747 |
| Licence fees | (1) | 37 |
| Total | 33,533,332 | 31,405,363 |
| Less: cattle compensation fund | (6,188) | (4,847) |
| Less: swine compensation fund | (206) | (218) |
| Less: sheep and goat compensation fund | (4,355) | (4,256) |
| Add: unclaimed money receipts | 238,865 | 196,312 |
| Add: user charges | 6,811 | 5,268 |
| Add: sundry income | 488 | 842 |
| Total administered revenues | 33,768,747 | 31,598,464 |
| * Includes cattle compensation fund, swine compensation fund and sheep and goat compensation fund. | ||
Table 20: Administered expenses
| Administered expenses | 2024–25 $’000 |
2023–24 $’000 |
|---|---|---|
| First Home Owner Grant | 89,570 | 99,033 |
| HomeBuilder Grant | 3,767 | 8,459 |
| First Home Bonus | - | 79 |
| Liquor subsidies | 5,004 | 5,600 |
| Other grants, rebates and other payments | 73,111 | 72,944 |
| Unclaimed money refunds | 18,660 | 11,581 |
| Bad and doubtful debts | 74,694 | 68,851 |
| Total administered expenses | 264,806 | 266,547 |
| Net administered revenues | 33,503,941 | 31,331,917 |
Notes to administered items
- Tax and duty revenue increased by $2,127 million to $33,533 million. This included:
- an increase of $622 million in payroll tax
- an increase of $149 million in COVID debt levy – payroll $10m+
- an increase of $58 million in the mental health and wellbeing payroll tax surcharge
- an increase of $821 million in land transfer duty
- an increase of $184 million in land tax
- a decrease of $32 million in COVID-19 debt levy – landholdings
- an increase of $19 million in casino tax and community benefit.
- The fire services property levy increased by $191 million mainly due to the change of fixed charges and levy rates under sections 11 and 12 of the Fire Services Property Levy Act 2012.
- Unclaimed money receipts represent monies transferred to the Registrar under the Unclaimed Money Act 2008 and the Gambling Regulation Act 2003. There was an increase of $42 million in the 2024–25 financial year.
- The First Home Owner Grant decreased by $9 million as a result of a reduction in applications compared to 2023–24.
- The HomeBuilder Grant was introduced to assist eligible owner-occupiers to build a new home, substantially renovate an existing home or buy off the plan. The grant applies to eligible contracts entered into between 4 June 2020 and 31 March 2021. Applications for the HomeBuilder Grant closed in April 2021, with applicants having until 30 June 2025 to lodge supporting documentation. There was a decrease of $4 million in the 2024–25 financial year.
- Other grants, rebates and other payments increased by $0.1 million mainly due to an increase in interest on tax overpayment of $1 million and a decrease in ex gratia payments of $0.6 million.
- The $5 million increase in bad and doubtful debts includes an increase of $31 million in bad debts and a decrease of $25 million in the provision for doubtful debts.