The Treasury manages programs & initiatives that support the priorities of the Government.
- Social Impact Investing (SII) (2017-) In response to the Government’s Discussion Paper on Social Impact Investing (SII), released in January 2017, the Government announced in the 2017-18 Budget context a number of initiatives to encourage the continued development of the SII market in Australia.
- Advisory Panel on Positive Ageing (2012-2013)
The role of the Advisory Panel on Positive Ageing is to lead a national dialogue on ageing issues, improve coordination of policy design across portfolios, and work with the Government on implementation and design of ageing policy, including in response to the recommendations of the Advisory Panel on the Economic Potential of Senior Australians. The Panel will also conduct targeted consultations on relevant issues.
- Advisory Panel on the Economic Potential of Senior Australians (2011-2012)
The Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP and the Minister for Mental Health and Ageing, the Hon Mark Butler MP announced the establishment of the Advisory Panel on the Economic Potential of Senior Australians on 30 March 2011.
The objective behind establishing the Panel is to identify and respond to the economic and social opportunities that are presented by an older population.
- COAG Not-for-profit Reform Working Group (2012-2013)
In a media release on 13 April 2012, the Council of Australian Governments (COAG) agreed to endorse the Terms of Reference and 2011-12 Work Plan for a COAG NFP Reform Working Group. These documents set out the scope and operation of the Working Group as well as a number of preliminary milestones for the first year of operation.
On 25 January 2013 COAG released a consultation regulatory impact assessment (RIA) examining ways to reduce regulatory duplication between the proposed Commonwealth governance and reporting standards and existing State and Territory requirements. The focus of this consultation RIA was the extent of regulatory duplication for entities regulated by both the Australian Charities and Not-for-profits Commission (ACNC) and state/territory regulators.
The consultation process was completed however the submissions received were not published prior to the September 2013 election.
- Energy Security Council (2011-2013)
The Energy Security Council was abolished on 22 October 2013 following the Coalition Government’s decision to repeal the carbon tax and associated energy security measures. The Energy Security Council was established in July 2011 as part of the Labor Government’s Clean Energy Future package.
The Council’s purpose was to provide assurance and advice to the Treasurer in the event that systemic risks to energy security emerged from financial impairment. The main aim being to provide assurance that energy supply security would be maintained during the transition to a clean energy future and to assist the management of any residual energy security concerns.
The Council’s role was to assess applications for assistance and provide advice to the Treasurer on whether financial assistance should be provided. There were two categories of applications:
- loans for generator owners who needed to refinance their debt when finance on reasonable commercial terms was not otherwise available under certain circumstances; and
- loans or other assistance seeking to address systemic risk to energy security in the light of the financial distress of an energy market participant.
- National Housing Supply Council (2008-2013)
The National Housing Supply Council was abolished on 8 November 2013. The Coalition Government announced the abolition of a number of non-statutory bodies, including the Council, where activities are no longer needed or can be managed within existing departmental resources.
- Natural Disaster Insurance Review (2011)
On 4 March 2011 the Hon Bill Shorten, MP Assistant Treasurer and Minister for Financial Services and Superannuation announced an independent review into disaster insurance in Australia following the floods in January 2011.
The Final Report was publicly released on 14 November 2011.
- Rebuilding After the Floods (2011-2012)
The natural disasters that occurred in Australia in the summer of 2010-11 and 2011-12 had an enormous impact on the community and the Australian economy. The Government provided $6.6 billion to support recovery and rebuilding from these disasters, mostly for rebuilding public infrastructure such as roads, bridges, schools and local council utilities.
The majority of the cost was funded from cuts within the budget. The remainder was funded by a temporary flood and cyclone reconstruction levy that aimed to raise $1.7 billion.
The levy applied to individual taxable income only in the 2011-12 financial year.
The 0.5 per cent levy applied on that part of an individual’s taxable income between $50,001 and $100,000. A levy of 1.0 per cent was applied on that part of the taxpayer’s taxable income above $100,000. No levy was payable where the person had taxable income of $50,000 or less or was affected by flooding in 2010-11 or 2011-12, Cyclone Yasi or the Western Australia bushfires.