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 2015‑16 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, entities and non‑budget entities.
| Significant but remote contingencies | |
|---|---|
| Communications and the Arts | |
| NBN Co Limited — Equity Agreement | Modified |
| Optus financial guarantee | New |
| Telstra financial guarantee | Modified |
| Termination of the funding agreement with OPEL Network Pty Ltd | Modified |
| Defence | |
| Remote contingencies | Modified |
| Litigation cases | Modified |
| Employment | |
| Job Services Australia — Employment Pathway Fund | Removed |
| jobactive — Employment Fund | New |
| Treasury | |
| Financial Claims Scheme | Modified |
| Guarantee of State and Territory Borrowing | Modified |
| Guarantee Scheme for Large Deposits and Wholesale funding | Removed |
| Guarantees under the Commonwealth Bank Sale Act 1995 | Modified |
| Reserve Bank of Australia — guarantee | Modified |
| Contingent liabilities — unquantifiable | |
| Agriculture and Water Resources | |
| Compensation claims arising from suspension of livestock exports to Indonesia | Modified |
| Defence | |
| Non‑remote contingent liabilities | Modified |
| Foreign Affairs and Trade | |
| Export Finance and Insurance Corporation — board member and senior management indemnities | Removed |
| Health | |
| Termination of Medicare Local Deed for Funding | Removed |
| Immigration and Border Protection | |
| Northern Patrol and Response — Triton | Removed |
| Immigration detention services by State and Territory governments — liability limit | Modified |
| Garrison and welfare services at Regional Processing Countries contract — liability limit | New |
| Infrastructure and Regional Development | |
| Aviation Rescue & Fire Fighting potential Polyfluorinated Chemical Contamination | New |
| Social Services | |
| National Disability Insurance Scheme | Modified |
| Contingent assets — unquantifiable | |
| Defence | |
| Non‑remote contingent assets | Modified |
| Contingent liabilities — quantifiable | |
| Defence | |
| Claims against the Department of Defence | Modified |
| Environment | |
| Low Carbon Australia Limited — Board of Directors' and senior management indemnities | Modified |
| Foreign Affairs and Trade | |
| Export Finance and Insurance Corporation | Modified |
| Australian Response to the outbreak of Ebola in West Africa | Removed |
| Infrastructure and Regional Development | |
| Virgin Australia Airlines Pty Ltd Confidentiality and Non‑Disclosure Agreement | New |
| Treasury | |
| Australian Taxation Office — tax disputes | Modified |
| International financial institutions — uncalled capital subscriptions | Modified |
| International Monetary Fund | Modified |
| Contingent assets — quantifiable | |
| Defence | |
| Claims against the Department of Defence | Modified |
(a) Risks appearing in Budget Paper No. 1, Budget Strategy and Outlook 2015‑16, Statement 8, but not listed in the table above are substantially unchanged.