Accounting method for advance annual payments made to council

• Lump sum annual payments paid to selected councils prior to 30 June 2026 for the 2027-28 year (reflecting amounts for the four years of annual payments (2026-27 to 2029-30), amounts prescribed by the Waste Reduction and Recycling Regulation 2011 are to be treated as a liability by councils on receipt. This is in line with previous guidance provided to councils by the Queensland Audit Office (QAO).
• Guidance on the annual payments to councils for waste levies from QAO.
• As councils received notification clearly identifying the yearly subsidy for each of the four years paid in advance, councils will need to recognise any excess of subsidy over and above their waste levy expense for municipal solid waste as other revenue in the relevant year.
• The subsidies received in advance for the 2026-27 year should be recognised as a current liability. The subsidies received in advance for the years 2027-28 to 2029-30 should be recognised as a non-current liability.