Australian Government Department of Finance Standard Parameters for use in Financial Statements for Financial Reporting Periods ending 30 June 2014 Parameter Value Website Inflation Rate Rates at 30 June 2014 2013-14 (forecast per 2014-15 Budget) 2014-15 (forecast per 2014-15 Budget) 2015-16 (forecast per 2014-15 Budget) 2016-17 (projection per 2014-15 Budget) 2017-18 (projection per 2014-15 Budget) Wage Price Index1 3.25% http://www.budget.gov.au/2014-15/content/bp1/html/bp1_bst1-02.htm 2.25% 2.50% 2.50% 2.50% Rates at 30 June 2014 2013-14 (forecast per 2014-15 Budget) 2014-15 (forecast per 2014-15 Budget) 2015-16 (forecast per 2014-15 Budget) Real Gross Domestic Product2 2.75% http://www.budget.gov.au/2014-15/content/bp1/html/bp1_bst2-01.htm 3.00% 3.00% Rates at 30 June 2014 2013-14 (forecast per 2014-15 Budget) 2014-15 (forecast per 2014-15 Budget) 2015-16 (forecast per 2014-15 Budget) 2016-17 (projection per 2014-15 Budget) 2017-18 (projection per 2014-15 Budget) Commonwealth Government Securities 2.75% http://www.budget.gov.au/2014-15/content/bp1/html/bp1_bst1-02.htm 2.50% 3.00% 3.50% 3.50% Short term at 30 June 2014 10 year Treasury Bond at 30 June 2014 15 year Bond at 30 June 20143 19 year Bond at 30 June 20143 Rate from Long-term Cost Report various http://www.rba.gov.au/statistics/tables/index.html#interest_rates 3.54% http://www.rba.gov.au/statistics/tables/index.html#interest_rates 3.94% http://www.rba.gov.au/statistics/tables/index.html#interest_rates 4.10% http://www.rba.gov.au/statistics/tables/index.html#interest_rates 6.00% http://www.finance.gov.au/superannuation/docs/PSS_CSS_Long_Term_Cost_Report.pdf Exchange Rates Rates at 30 June 2014 RBA: United States dollar Japanese yen European euro South Korean won New Zealand dollar Chinese renminbi UK pound sterling New Taiwan dollar Singapore dollar Indonesian rupiah Hong Kong dollar Malaysian ringgit Swiss franc Special Drawing Right Major banks: National Australia Bank Westpac Bank Commonwealth Bank ANZ Bank http://www.rba.gov.au/statistics/tables/index.html#exchange_rates 0.9420 95.4300 0.6906 953.1600 1.0761 5.8466 0.5531 28.1300 1.1763 11177.0000 7.3013 3.0243 0.8396 0.6100 - http://www.nab.com.au/ http://www.westpac.com.au http://www.commbank.com.au/ http://www.anz.com.au Rates for Market Sensitivity Analysis4 Interest Rate sensitivity analysis's standardised rate (IRSA rate) Foreign Exchange sensitivity analysis's standardised rate (FXSA rate) Executive Remuneration Note Threshold for Tables A, B and C 0.6% 11.5% $195,000 1. Seasonally adjusted, through-the-year growth rate to the June quarter. 2. Real rates (that is, the nominal rate has been adjusted for inflation). 3. Only to be used where the 15 or 19 year term is appropriate under accounting standards, e.g. it is a close match to the expected average maturity of a liability. 4. Standard rates required by FinanceBrief 31 (Revised) - AASB 7 Financial Instruments: Disclosures Standardisation of market risk sensitivity analysis. Long Service Leave (LSL) - Shorthand Method Standard Factors LSL - Table of Probability Factors Completed Probability years of Weights service 0 55.00% 1 65.00% 2 70.00% 3 75.00% 4 80.00% 5 85.00% 6 90.00% 7 90.00% 8 95.00% 9 100.00% 10+ 100.00% LSL - Table of Discount Factors SGR* 2.00% 2.25% 100.00% 98.10% 2.00% 104.10% 102.00% 2.50% 108.40% 106.20% 3.00% 113.00% 110.60% 3.50% 117.90% 115.40% 4.00% 123.20% 120.40% 4.50% 128.80% 125.90% 5.00% *SGR = Salary Growth Rate 2.50% 96.30% 100.00% 104.10% 108.30% 112.90% 117.80% 123.00% 2.75% 94.50% 98.10% 102.00% 106.20% 110.60% 115.30% 120.30% 3.00% 92.70% 96.30% 100.00% 104.00% 108.30% 112.90% 117.70% Bond (Discount) Rate p.a. 3.25% 3.50% 3.75% 91.10% 89.40% 87.90% 94.50% 92.80% 91.10% 98.10% 96.30% 94.50% 102.00% 100.00% 98.10% 106.10% 104.00% 102.00% 110.50% 108.30% 106.10% 115.20% 112.80% 110.50% Contacts For further information, please email Budget Estimates and Accounting at [email protected]. 4.00% 86.40% 89.50% 92.80% 96.30% 100.00% 104.00% 108.20% 4.25% 84.90% 87.90% 91.10% 94.50% 98.10% 102.00% 106.10% 4.50% 83.50% 86.40% 89.50% 92.80% 96.30% 100.00% 104.00% 4.75% 82.10% 85.00% 88.00% 91.20% 94.60% 98.20% 102.00% 5.00% 80.80% 83.60% 86.50% 89.60% 92.90% 96.30% 100.00%
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