Department of Finance Gifts and Benefits 2026-27
In the course of official duties, officials of the Department of Finance received the following gifts and/or benefits where the value exceeds $AUD100 (excluding GST).
PGPA Glossary
CRC Communique 15 October 2026
The Commonwealth Risk Committee (CRC) met on 15 October 2026 via Microsoft Teams and discussed the following matters:
Congratulations to our 2026 Finance Awards winners
“Recognition strengthens our culture – and it helps us understand what excellence looks like in practice.”
Last week Finance staff came together to celebrate the incredible work of 7 individuals and 5 teams across the department.
The Finance Awards are our chance to recognise the people behind this work and show how much their contributions are valued.
The Awards promote our goals and central values, reinforcing our commitment to excellence and integrity in every facet of our work.
Use of the Bullsbrook Centre for National Resilience (Internal Review of FOI 25-26/209)
| Finance FOI Reference # | |
|---|---|
| FOI Title | Use of the Bullsbrook Centre for National Resilience (Internal Review of FOI 25-26/209) |
| Date released to applicant | |
| Date first published on this site | |
| Information |
Independent Review of KPMG Australia
The Department of Finance commissioned the Independent Review of KPMG Australia (KPMG) following allegations raised in the Senate on 24 March 2026 about KPMG’s conduct, governance and culture. Dr Ian Watt AC was appointed Independent Reviewer on 24 June 2026. He provided his Report to the Secretary of Finance on 14 October 2026.
Independent Review of KPMG Australia
The Department of Finance commissioned the Independent Review of KPMG Australia (KPMG) following allegations raised in the Senate on 24 March 2026 about KPMG’s conduct, governance and culture.
Finance in Colour – More than an exhibition, a celebration of our people
Last week, Finance staff came together for Finance in Colour, a four-day exhibition celebrating the creativity, talents and interests that exist across our department.
Held in the OCA Atrium, the exhibition showcased a diverse collection of artworks and creative projects from Finance staff and the Kids of Finance.
Paintings, photography, woodwork, crochet, bonsai, digital art, LEGO creations and many other works were displayed, offering a glimpse into the passions our people pursue outside their day-to-day roles.
Senator the Hon Katy Gallagher
Minister for Finance
Minister for Women
Minister for the Public Service
Minister for Government Services
KG 21/26
Friday, 30 October 2026
KEY POINTS
- The Monthly Financial Statements for September 2026 report the budget position against the expected monthly profile for the 2026‑27 financial year through to 30 September 2026, based on the 2026‑27 Budget estimate published in the 2026‑27 Budget in May 2026.
- The underlying cash balance for the 2026‑27 financial year to 30 September 2026 was a deficit of $14.5 billion.
- The fiscal balance for the 2026‑27 financial year to 30 September 2026 was a deficit of $19.5 billion.
| AGGREGATES(a) |
ACTUAL 2026-2027 September $b |
ACTUAL 2026-2027 YTD September $b |
Budget Profile 2026-2027 YTD September $b |
BUDGET ESTIMATE* 2026-2027 FULL YEAR $b |
|---|---|---|---|---|
| Receipts(b) | 55.1 | 184.3 | 177.5 | 798.1 |
| Payments(c) | 61.6 | 198.7 | 202.5 | 829.6 |
| Underlying cash balance | -6.5 | -14.5 | -25.1 | -31.5 |
| Headline cash balance | -8.4 | -18.9 | -32.4 | -64.1 |
| Revenue | 54.4 | 184.3 | 180.1 | 815.3 |
| Expenses | 63.2 | 202.9 | 204.7 | 833.3 |
| Net operating balance | -8.8 | -18.6 | -24.5 | -17.9 |
| Net capital investment | 0.4 | 0.9 | 2.4 | 12.0 |
| Fiscal balance | -9.2 | -19.5 | -27.0 | -29.9 |
| Total assets | 915.0 | 980.5 | ||
| Total liabilities | 1,562.2 | 1,627.4 | ||
| Net worth(d) | -647.2 | -646.9 | ||
| Net debt(e) | 552.8 | 616.6 |
Australian Government general government sector operating statement
| Note |
ACTUAL 2026-2027 September $m |
ACTUAL 2026-2027 YTD September $m |
Budget Profile 2026-2027 YTD September $m |
BUDGET ESTIMATE* 2026-2027 FULL YEAR $m |
|
|---|---|---|---|---|---|
| Revenue | |||||
| Taxation revenue | 1,2 | 50,453 | 170,148 | 165,493 | 756,283 |
| Sales of goods and services | 1,026 | 6,121 | 5,917 | 23,821 | |
| Interest income | 784 | 2,226 | 2,264 | 11,224 | |
| Dividend and distribution income | 779 | 1,567 | 2,325 | 7,805 | |
| Other | 1,320 | 4,235 | 4,134 | 16,195 | |
| Total revenue | 54,362 | 184,297 | 180,133 | 815,328 | |
| Expenses | |||||
| Gross operating expenses | |||||
| Wages and salaries(a) | 2,712 | 8,150 | 8,298 | 33,406 | |
| Superannuation | 838 | 2,499 | 2,354 | 9,443 | |
| Depreciation and amortisation | 1,281 | 3,971 | 3,596 | 14,771 | |
| Supply of goods and services | 19,424 | 59,074 | 59,314 | 242,121 | |
| Other operating expenses(a) | 1,373 | 3,996 | 3,633 | 14,265 | |
| Total gross operating expenses | 25,629 | 77,690 | 77,195 | 314,007 | |
| Superannuation interest expense | 1,313 | 3,939 | 3,971 | 15,884 | |
| Interest expenses | 3,262 | 9,629 | 9,514 | 43,364 | |
| Current transfers | |||||
| Current grants | 16,406 | 57,698 | 58,497 | 236,419 | |
| Subsidy expenses | 1,613 | 5,008 | 5,104 | 19,733 | |
| Personal benefits | 14,502 | 46,556 | 47,090 | 181,397 | |
| Total current transfers | 32,521 | 109,262 | 110,690 | 437,548 | |
| Capital transfers | |||||
| Mutually agreed write-downs | 186 | 708 | 627 | 2,517 | |
| Other capital grants | 282 | 1,675 | 2,663 | 19,942 | |
| Total capital transfers | 469 | 2,383 | 3,289 | 22,459 | |
| Total expenses | 3 | 63,194 | 202,903 | 204,659 | 833,262 |
| Net operating balance | -8,832 | -18,606 | -24,526 | -17,934 | |
| Other economic flows | |||||
| - included in operating result | |||||
| Net write-downs of assets | -448 | -2,788 | -1,855 | -10,495 | |
| Assets recognised for the first time | 17 | 65 | 68 | 408 | |
| Actuarial revaluations | 5 | 9 | 11 | -99 | |
| Net foreign exchange gains | 146 | -24 | 0 | -151 | |
| Net swap interest received | 206 | 214 | 0 | 14 | |
| Market valuation of debt | 9,749 | 21,859 | -3,767 | -14,354 | |
| Other gains/(losses) | -984 | -2,209 | 2,311 | 10,819 | |
|
Total other economic flows - included in operating result |
8,691 | 17,126 | -3,231 | -13,859 | |
| Operating result(b) | -141 | -1,480 | -27,758 | -31,793 | |
| Non-owner movements in equity | |||||
| Revaluation of equity investments | 0 | 0 | 0 | -169 | |
| Actuarial revaluations | 0 | 0 | 0 | -240 | |
| Other economic revaluations | -1,569 | -6,206 | -54 | 163 | |
|
Total other economic flows - included in equity |
-1,569 | -6,206 | -54 | -246 | |
|
Comprehensive result - Total change in net worth |
-1,710 | -7,686 | -27,812 | -32,039 | |
| Net operating balance | -8,832 | -18,606 | -24,526 | -17,934 | |
| Net acquisition of non-financial assets | |||||
| Purchases of non-financial assets | 1,768 | 4,857 | 5,796 | 26,014 | |
| less Sales of non-financial assets | 6 | 11 | 0 | 141 | |
| less Depreciation | 1,281 | 3,971 | 3,596 | 14,771 | |
| plus Change in inventories | -81 | 27 | 235 | 884 | |
| plus Other movements in non-financial assets | 2 | -1 | 0 | 0 | |
| Total net acquisition of non-financial assets | 402 | 901 | 2,435 | 11,986 | |
| Fiscal balance (Net lending/borrowing)(c) | -9,234 | -19,507 | -26,962 | -29,920 |
Australian Government general government sector balance sheet
|
ACTUAL as at 30 September 2026 $m |
BUDGET ESTIMATE* |
|
|---|---|---|
| Assets | ||
| Financial assets | ||
| Cash and deposits | 58,470 | 63,669 |
| Advances paid | 71,452 | 88,350 |
| Investments, loans and placements | 266,313 | 271,315 |
| Other receivables | 97,139 | 106,461 |
| Equity investments | ||
| Investments in other public sector entities | 39,212 | 59,299 |
| Equity accounted investments | 7,030 | 6,829 |
| Investments - shares | 138,246 | 135,852 |
| Total financial assets | 677,861 | 731,775 |
| Non-financial assets | ||
| Land | 15,193 | 15,712 |
| Buildings | 55,776 | 56,515 |
| Plant, equipment and infrastructure | 122,367 | 131,694 |
| Inventories | 14,479 | 14,029 |
| Intangibles | 15,488 | 17,258 |
| Investment properties | 234 | 225 |
| Biological assets | 6 | 5 |
| Heritage and cultural assets | 13,175 | 13,213 |
| Assets held for sale | 459 | 35 |
| Other non-financial assets | 8 | 6 |
| Total non-financial assets | 237,185 | 248,693 |
| Total assets | 915,046 | 980,469 |
| Liabilities | ||
| Interest bearing liabilities | ||
| Deposits held | 233 | 416 |
| Government securities | 898,232 | 987,626 |
| Loans | 31,550 | 33,670 |
| Lease liabilities | 18,977 | 18,243 |
| Total interest bearing liabilities | 948,991 | 1,039,955 |
| Provisions and payables | ||
| Superannuation liability(a) | 312,902 | 326,908 |
| Other employee liabilities | 116,843 | 99,429 |
| Suppliers payables | 12,469 | 14,444 |
| Personal benefits payables | 4,574 | 4,860 |
| Subsidies payables | 882 | 612 |
| Grants payables | 3,192 | 5,819 |
| Other payables | 14,645 | 6,359 |
| Provisions | 147,735 | 129,016 |
| Total provisions and payables | 613,243 | 587,447 |
| Total liabilities | 1,562,234 | 1,627,403 |
| Net worth(b) | -647,188 | -646,934 |
| Net financial worth(c) | -884,373 | -895,627 |
| Net financial liabilities(d) | 923,584 | 954,927 |
| Net debt(e) | 552,757 | 616,621 |
Australian Government general government sector cash flow statement(a)
|
ACTUAL 2026-2027 September $m |
ACTUAL 2026-2027 YTD September $m |
Budget Profile 2026-2027 YTD September $m |
BUDGET ESTIMATE* 2026-2027 FULL YEAR $m |
|
|---|---|---|---|---|
| Cash receipts from operating activities | ||||
| Taxes received | 49,818 | 166,567 | 161,753 | 737,101 |
| Receipts from sales of goods and services | 1,407 | 6,319 | 5,631 | 23,299 |
| Interest receipts | 792 | 2,560 | 2,666 | 9,636 |
| Dividends, distributions and income tax equivalents | 810 | 1,781 | 2,314 | 7,768 |
| Other receipts | 2,240 | 7,017 | 5,114 | 20,117 |
| Total operating receipts | 55,066 | 184,244 | 177,478 | 797,922 |
| Cash payments for operating activities | ||||
| Payments for employees(b) | -3,898 | -13,570 | -13,556 | -53,690 |
| Payments for goods and services | -19,736 | -61,516 | -63,096 | -241,434 |
| Grants and subsidies paid | -18,590 | -64,503 | -66,494 | -284,106 |
| Interest paid | -1,958 | -2,561 | -2,709 | -29,566 |
| Personal benefit payments | -14,968 | -47,901 | -48,076 | -182,086 |
| Other payments(b) | -885 | -2,989 | -3,153 | -12,000 |
| Total operating payments | -60,034 | -193,041 | -197,085 | -802,882 |
| Net cash flows from operating activities | -4,968 | -8,797 | -19,606 | -4,960 |
| Cash flows from investments in non-financial assets | ||||
| Sales of non-financial assets | 4 | 10 | 0 | 176 |
| Purchases of non-financial assets | -1,342 | -5,004 | -4,748 | -23,900 |
| Net cash flows from investments in non-financial assets | -1,338 | -4,994 | -4,748 | -23,724 |
| Net cash flows from investments in financial assets for policy purposes | -1,846 | -4,418 | -7,363 | -32,544 |
| Net cash flows from investments in financial assets for liquidity purposes | -598 | -4,219 | -4,503 | -5,371 |
| Cash flows from financing activities | ||||
| Borrowing (net) | -21,598 | 7,509 | 5,032 | 61,139 |
| Other financing (net) | 916 | 323 | 246 | -4,547 |
| Net cash flows from financing activities | -20,682 | 7,832 | 5,278 | 56,592 |
| Net increase/(decrease) in cash held | -29,431 | -14,595 | -30,943 | -10,007 |
| GFS cash surplus(+)/deficit(-)(c) | -6,306 | -13,791 | -24,355 | -28,684 |
| plus Principal payments of lease liabilities(d) | -230 | -704 | -704 | -2,858 |
| Equals underlying cash balance(e) | -6,536 | -14,495 | -25,059 | -31,542 |
| plus Net cash flows from investments in financial assets for policy purposes | -1,846 | -4,418 | -7,363 | -32,544 |
| Equals headline cash balance | -8,382 | -18,914 | -32,423 | -64,086 |
Note 1: Income Tax
|
ACTUAL 2026-2027 September $m |
ACTUAL 2026-2027 YTD September $m |
Budget Profile 2026-2027 YTD September $m |
BUDGET ESTIMATE* 2026-2027 FULL YEAR $m |
||
|---|---|---|---|---|---|
| Individuals and other withholding taxes | |||||
| Gross income tax withholding | 29,753 | 84,603 | 81,968 | 333,600 | |
| Gross other individuals | 4,457 | 21,151 | 21,795 | 100,100 | |
| less Refunds | 5,051 | 21,229 | 21,695 | 42,800 | |
| Total individuals and other withholding taxation | 29,159 | 84,525 | 82,068 | 390,900 | |
| Fringe benefits tax | 28 | 1,275 | 1,279 | 5,830 | |
| Company tax | 8,407 | 34,655 | 35,173 | 157,000 | |
| Superannuation fund taxes | 2,355 | 10,330 | 7,522 | 31,590 | |
| Petroleum resource rent tax | -27 | 621 | 410 | 1,950 | |
| Total income taxation revenue | 39,922 | 131,406 | 126,452 | 587,270 |
Note 2: Indirect Tax
|
ACTUAL 2026-2027 September $m |
ACTUAL 2026-2027 YTD September $m |
Budget Profile 2026-2027 YTD September $m |
BUDGET ESTIMATE* 2026-2027 FULL YEAR $m |
||
|---|---|---|---|---|---|
| Goods and services tax | 6,031 | 24,978 | 25,116 | 109,150 | |
| Wine equalisation tax | 73 | 258 | 273 | 1,170 | |
| Luxury car tax | 79 | 279 | 315 | 1,110 | |
| Excise duty | 2,563 | 7,059 | 7,857 | 33,670 | |
| Customs duty | 513 | 2,151 | 1,746 | 7,320 | |
| Other indirect tax | 1,272 | 4,017 | 3,735 | 16,593 | |
| Total indirect taxation revenue | 10,531 | 38,742 | 39,041 | 169,013 |
Note 3: Total expenses by function
|
ACTUAL 2026-2027 September $m |
ACTUAL 2026-2027 YTD September $m |
BUDGET ESTIMATE* 2026-2027 FULL YEAR $m |
|
|---|---|---|---|
| Expenses by function | |||
| General public services | 2,509 | 7,453 | 32,499 |
| Defence | 4,470 | 12,404 | 52,055 |
| Public order and safety | 764 | 2,716 | 9,709 |
| Education | 2,793 | 13,804 | 57,349 |
| Health | 10,813 | 35,129 | 136,918 |
| Social security and welfare | 24,845 | 79,718 | 308,737 |
| Housing and community amenities | 647 | 1,682 | 11,454 |
| Recreation and culture | 494 | 1,559 | 6,292 |
| Fuel and energy | 919 | 3,712 | 15,207 |
| Agriculture, forestry and fishing | 464 | 994 | 4,748 |
| Mining, manufacturing and construction | 420 | 1,255 | 5,563 |
| Transport and communication | 358 | 1,041 | 15,338 |
| Other economic affairs | 1,059 | 3,309 | 13,773 |
| Other purposes | |||
| Public debt interest | 2,564 | 7,613 | 31,886 |
| Nominal superannuation interest | 1,313 | 3,939 | 15,884 |
| General purpose inter-government transactions | 8,742 | 26,513 | 111,062 |
| Natural disaster relief | 22 | 62 | 865 |
| Contingency reserve | 0 | 0 | 3,925 |
| Total expenses | 63,194 | 202,903 | 833,262 |
Annual Report 2025-26
View the Annual Report on transparency.gov.au.
Download a copy of the Annual Report 2025-26.
Finance's Annual Report 2025–26 is now available
The Department of Finance Annual Report 2025–26 has been tabled in Parliament and is now available.
The report provides an overview of Finance's achievements, financial position and performance during 2025–26.
Highlights from the year include:
