Appendix C: Statement of risks (Continued)
Details of fiscal risks and contingent liabilities
New or revised fiscal risks and contingent liabilities with a possible impact on the forward estimates greater than $20 million in any one year, or $50 million over the forward estimates period, that have arisen or changed since the 2013‑14 Budget are described below and summarised in Table C1.
Information on both contingent assets and contingent liabilities is also provided in the annual financial statements of departments, agencies and non‑budget entities.
| Fiscal risks | |
|---|---|
| Defence | |
| Major overseas operations of the Australian Defence Force in Afghanistan and the Middle East | Modified |
| Treasury | |
| Standby loan facility for the Government of Indonesia | Modified |
| Contingent liabilities — quantifiable | |
| Communications | |
| NBN Co Limited — Equity Agreement | Modified |
| Telstra Financial Guarantee | Modified |
| Defence | |
| Indemnities and remote contingencies | Modified |
| Environment | |
| Low Carbon Australia Limited — Board of Directors' and senior management indemnities | New |
| Foreign Affairs and Trade | |
| Export Finance and Insurance Corporation | Modified |
| Social Services | |
| Accommodation Bond Guarantee Scheme | Modified |
| Treasury | |
| Australian Taxation Office — tax disputes | Modified |
| Contingent liability for the payment of unclaimed monies under the Banking Act 1959, Life Insurance Act 1995 and the Corporations Act 2001 | Removed |
| Guarantees under the Commonwealth Bank Sale Act 1995 | Modified |
| International Financial Institutions — uncalled capital subscriptions | Modified |
| International Monetary Fund | Modified |
| Reserve Bank of Australia — guarantee | Modified |
| Contingent liabilities — unquantifiable | |
| Agriculture | |
| Compensation claims arising from equine influenza outbreak | Modified |
| Attorney‑General's | |
| Australian Victims of Terrorism Overseas Payment | Modified |
| Communications | |
| Termination of the funding agreement with OPEL | Modified |
| Defence | |
| Indemnities and remote contingencies | Modified |
| Litigation cases | Modified |
| Environment | |
| End of lease at the former National Halon Bank site, Braybrook, Victoria | Modified |
| Murray‑Darling Basin Reform — additional net costs | Modified |
| Finance | |
| Australian Government Domestic Property | New |
| Comcover — insurance claims and reinsurance recoveries | Modified |
| Contractual Leasing Agreement | Removed |
| Litigation — Davis Samuel case | Modified |
| Immigration and Border protection | |
| Immigration detention services by State and Territory governments liability limit | Modified |
| Industry | |
| Gorgon liquefied natural gas and carbon dioxide storage project — long‑term liability | Modified |
| Snowy Hydro Limited — Directors' indemnity | Removed |
| Infrastructure and Regional Development | |
| Moorebank Intermodal Company Limited (MIC) — Board Members' Indemnity | New |
| Indemnity provided to the New South Wales Rural Fire Fighting Service in relation to the Jervis Bay Territory | New |
| Social Services | |
| Business Services Wage Assessment Tool (BSWAT) | New |
| National Disability Insurance Scheme (NDIS) | New |
| Treasury | |
| Financial Claims Scheme | Modified |
| Guarantee of State and Territory Borrowing | Modified |
| Guarantee Scheme for Large Deposits and Wholesale Funding | Modified |
| Contingent assets — unquantifiable | |
| Industry | |
| Wireless Local Area Network | Modified |
(a) Risks appearing in Budget Paper No. 1, Budget Strategy and Outlook 2013‑14, Statement 8, but not listed in the table above are substantially unchanged.
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