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Faster Payment Terms Review

In December 2018, the NSW Government introduced the Faster Payment Terms (FPT) policy to help see registered business suppliers’ invoices1paid by in-scope departments within 20 calendar days. In January 2020, the NSW Government shortened payment times for registered small business suppliers to five business days. This commitment applies to undisputed and correctly rendered invoices up to $1 million.

TD22-10 Amendment to TD19-02 Mandatory Early Close as at 31 March each year

The objective of this Direction is to amend TD19-02 to ensure ongoing adherence to the purpose and objectives expressed in TD19-02.

TPG23-04 Mandates of options and major policy decisions under Australian Accounting Standards

Australian Accounting Standards provide certain accounting policy options. This TPG updates the mandates of accounting policy options and major policy decisions for recent amendments to Australian Accounting Standards and Treasury requirements.

This version replaces TPG22-07

TPG22-28 Returns on Equity Investment

This guidance applies to the treatment of contributions from the General Government Sector (GGS) to State Owned Corporations (SOCs) for the purposes of:

• Preparing the budget papers and budget aggregates
• Preparing the Annual Consolidated State Financial Statements under s7.17 of the Government Sector Finance Act 2018 (GSF Act).

TPG22-23 Agencies with Occupancy Agreements with Property NSW

The purpose of this policy is to provide guidance to agencies on the applicability of AASB 16 Leases to Occupancy Agreements with Property NSW (PNSW). It includes proforma financial statements disclosures for the year ending 30 June 2022 and frequently asked questions in respect of the derecognition of existing right-of-use assets and lease liabilities related to office accommodation lease arrangements with PNSW.

This policy is not mandatory and NSW GGS entities should tailor the assessment and disclosures to their individual circumstances.

TPG22-17 Agency guidelines for the 2021-22 mandatory annual returns to Treasury for NSW public sector agencies that are not included in TD21-02

Superceded by TPG23-14

TPG22-16 Agency Direction for the 2021-22 Mandatory Annual Returns to Treasury

Replaced by TPG23-13

This NSW Treasury Policy and Guidelines (TPG) adopts and incorporates the Treasurer’s Direction TD21-02 Mandatory Annual Annual Returns to Treasury (TD21-02), including the defined terms which also apply to this TPG.

TPG22-07 Mandates of options and major policy decisions under Australian Accounting Standards

Australian Accounting Standards provide certain accounting policy options. This TPG updates the mandates of accounting policy options and major policy decisions for recent amendments to Australian Accounting Standards and Treasury requirements.

This version has been replaced by TPG23-04

TC21-11 Timetable for Agency Asset Valuation

This Treasury Circular outlines the recommended timetable for asset valuations undertaken by NSW public sector entities for financial years ending on or after 30 June 2022.

Due to the long lead time required to prepare for external valuations of non-current physical assets some milestone dates may have already passed on issuance of this timetable. NSW Treasury anticipates that Agencies have already commenced planning for asset valuations and should still be able to meet the mandatory due dates. This timetable should also assist in providing an indication of procedures for future years.

TD21-05 Valuation of Physical Non-Current Assets at Fair Value