WESTERN AUSTRALIAN LAND AUTHORITY — FINANCIAL
REPORT
1004. Hon Dr STEVE THOMAS to the Leader of the House
representing the Minister for Lands:
I
refer to the annual report of DevelopmentWA, which includes the Western Australian
Land Authority financial report.
(1) Can the
minister provide an explanation for and a breakdown of the near tripling of
WALA land sales revenue as evidenced on page 69 of the report?
(2) Can the
minister provide an explanation for and a breakdown of the near tripling of
WALA land sales expenses as evidenced on page 69 of the report?
(3) Why was the
2020–21 dividend from WALA to the state government increased from $8.4 million
the year before to $169 million in 2020–21?
(4) Given that
the WALA profit before income tax equivalents rose from $12.7 million in 2020–21
to $119.5 million in 2021–22, why did the dividends paid to the
government drop from $169 million to $23.4 million at the same time?
The PRESIDENT: Before I give
the call to the Leader of the House, I will point out that that question is
both long and seeking a great deal of data. I will put it to the Leader of
the House to see whether she is able to respond.
Hon SUE ELLERY replied:
I am always happy to assist,
President, thank you. I thank the honourable member for some notice of the
question.
(1)–(2) The
significant increase to both land sales and land sale expenses in 2022 is
driven by a number of factors including the second tranche of commercial assets
transferred from the Housing Authority, increased residential lands sales due
to high market activity and the high value sale of lot 4, Elizabeth Quay.
(3) This
additional dividend relates to the regional land booster program.
(4) The 2020–21
dividend was retained and set aside for strategic infrastructure priorities
over the forward estimates period. The special dividend paid of $23.4 million
relates to reimbursement of funding as part of assets transferred from the
Housing Authority in 2021.