Australian Government, 2011‑12 Budget
Budget

Part 3: Capital Measures (Continued)

Treasury

Australia's International Monetary Fund Quota — increase

Capital ($m)
2010‑11 2011‑12 2012‑13 2013‑14 2014‑15
Department of the Treasury

The Government will provide the International Monetary Fund (IMF) with additional Special Drawing Rights (SDR) of 3.3 billion (around $5.3 billion) to increase Australia's quota, or capital subscription, in the Fund. Australia's quota will increase to SDR 6.6 billion, in line with a doubling of total IMF quotas agreed by G20 Finance Ministers and IMF Governors in late 2010.

The doubling of IMF quotas will ensure that the IMF has the resources available to maintain stability and support recovery in the global economy. It will also facilitate a redistribution of quotas to increase the influence in IMF decision making of key emerging market countries, particularly in Asia. Australia's IMF quota can be drawn on by the Fund for use in its lending to borrowing member countries.

This is a financing transaction involving an exchange of assets and will have no direct impact on the fiscal balance or underlying cash balance.

Stronger Super — initial funding for self managed superannuation funds auditor registration

Capital ($m)
2010‑11 2011‑12 2012‑13 2013‑14 2014‑15
Australian Securities and Investments Commission 1.5 1.1
Related expense ($m)
Australian Securities and Investments Commission 0.1 ..

The Government will provide $2.8 million over two years to the Australian Securities and Investments Commission to develop a second pass business case and initial capital expenditure for the development of a facility for the online registration of approved auditors of Self Managed Superannuation Funds from 1 July 2012.

Further information can be found in the Government Response to Stronger Super at http://strongersuper.treasury.gov.au.

See the related expense measure Stronger Super — SuperStreaminitial funding in the 2011‑12 Budget.

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