Annual administration returns

AAR period

This cell is pre-filled with the AAR financial year period for the administrations for which the practitioner will be submitting AAR data.  When an AAR form is submitted, the year must match the online selected AAR period.

Practitioner number

This cell is pre-filled with the practitioner registration number for the administrations for which the practitioner will be submitting AAR data.  When an AAR form is submitted, the practitioner registration number must match the online selected practitioner registration number.

AAR rate

This cell is pre-filled with the applicable realisations charge rate for the AAR financial year period for which the practitioner will be submitting AAR data.  This is used for the automatic calculation of realisations charge due for an administration.

Administration details

These columns are pre-filled with details of administrations that were active at any time during the financial year and for which the practitioner was the primary trustee at any time during the financial year, as per AFSA’s records.

Opening balance

The column is pre-filled with the closing balance reported for the administration in the practitioner’s previous AAR.

Note 1: Opening balances will not pre-fill for the 2014-15 AAR period.

Funds transferred from another practitioner

Where an administration has been transferred to a practitioner along with money held in the estate, the amount received needs to be inserted here.  AFSA may cross-reference this entry with money transferred out by the other trustee.

Gross sale price of assets

Where a practitioner has sold assets in a bankruptcy or Part XI administration, the gross asset value is reported here.

Example: a practitioner sold a house property for $500,000 and, after the deduction of agent’s commission/settlement fees of $20,000, outstanding water/council rates of $5000 and mortgage of $400,000, the trustee received a net amount of $75,000 in the estate.  The figure that gets reported in this column is $500,000.

Note: receipts are to be shown excluding the GST component, if any.  E.g. sale of business plant and equipment $11,000 including $1000 GST: only $10,000 should be shown in this column and the GST component of $1000 should be shown in column 18 (“Other receipts not subject to realisations charge”).

Recoveries from antecedent transactions

Any receipts in relation to recoveries under sections 120, 121 and 122 of the Bankruptcy Act are reported in this column.

Contributions collected

All income contributions received from bankrupts are reported in this column.

Sec 73 composition receipts

Any composition monies received are reported in this column.

Trading receipts

Where a practitioner has continued to trade a debtor’s/bankrupt’s business, the value of any trading receipts (net of GST) are shown in this column.  (Do not include sale of business assets in this column – these are shown at column 10.)  Trading payments are shown at column 21.

Other receipts

Where there are other types of receipts (e.g. rents, dividends, royalties, income tax refunds, GST refunds, insurance premium refunds) that are subject to the realisations charge, they need to be reported here.
Note: any receipts that received in a s188 or PIA need to be reported in this column.

Total receipts subject to realisations charge

This column automatically calculates the total receipts for the administration that are subject to realisations charge.

Interest earned on estate funds

If a practitioner has earned interest on estate money, it is reported in this column.  This information is used to calculate the practitioner’s interest charge liability.  Bank fees and charges paid are disclosed at column 25.

Note: some trustees maintain a single bank account for all their estates and the interest earned on that single bank account is not required to be apportioned amongst the various estates.

Other receipts not subject to the realisations charge

If a practitioner has certain receipts that are not subject to the realisations charge (e.g. creditor advances/indemnities/GEERS/FEG receipts/GST collected on sale of business assets), these are reported in this column.

Total receipts

This column automatically calculates the total receipts in an administration.

Amount paid to secured creditors

Where a practitioner has paid secured creditors from the sale proceeds of assets, the amounts paid are reported in this column.  Using the example shown in the notes to column 10, the amount of $5000 paid for the outstanding water/council rates (these rates are usually secured against the property) and $400,000 paid to the mortgagee would be reported in this column.

Trading payments

Where a practitioner has continued to trade a debtor’s/bankrupt’s business, the value of any trading payments (payments to suppliers, wages to employees etc.) net of GST are shown in this column.

Costs of administering the estate

All costs of administrations are reported in this column.  These include expenses such as legal fees, selling agents’ commissions, settlement fees, brokerage on sale of shares etc.  Using the example in the notes for column 10, the selling agent’s commission and settlement fees of $20,000 would be reported in this column.

Note: all expenses recorded should include the GST component (if any).

Trustee’s remuneration

Any remuneration drawn by the practitioner in the capacity as trustee or controlling trustee are reported here.

Note: where an administration has been transferred by another trustee and you are required to make a payment to the previous trustee for their fees, that fee amount should not be shown in this column but included as “Other Payments” at column 26.

Dividends paid to creditors

All dividends that were paid to creditors are reported here.  This includes any employee creditor dividends but does not include payments made to employees out of Fair Entitlement Guarantee (“FEG”) money received from the Attorney-General’s Department (these are recorded in column 26) or payment of petitioning creditors’ costs.

Note: FEG  was previously known as the General Employee Entitlements and Redundancy Scheme (“GEERS”) and was managed by the Department of Employment and Workplace Relations.

Bank fees and charges

Bank fees and charges are shown in this column.  This information is used to calculate the practitioner’s interest charge liability.  Bank fees and charges include account keeping or account service fees, transaction fees, direct debit fees and cheque deposit fees, whether transactions were electronic, phone, internet or at a branch.  They do not include dishonour fees (cheque or direct debit), overdrawn account fees, financial institutions duty, bank account debits tax or withholding tax, balance enquiries or additional statements.

Other payments

All other payments made out of an administration need to be recorded here.  This could include payments like petitioning creditor costs, GEERS/FEG payments to employees, income taxes, net GST on sale of assets etc.

Realisations charge payments

The amount of realisations charge payments that you have already paid during the AAR period needs to be recorded here.  This does not include realisations charge payments you intend on making after submission of the AAR.

Interest charge payments

The amount of interest charge payments, if attributable to an administration, that you have already made during the AAR period needs to be recorded here.

Refund of surplus to debtor

Where there was a surplus in an estate and a refund has been made to the debtor/bankrupt during the financial year, the refund amount is recorded here.

Total payments

This column automatically totals all the payments made from the administration during the AAR period.

Funds transferred to another practitioner

Where a practitioner has transferred an administration with money to another trustee, the amount transferred needs to be reported here.  AFSA may cross-reference this with the money reported as received by the other trustee.

Closing balance

This column automatically calculates the closing balance in the administration based on the receipts and payments in the previous columns.  This balance should be the same as the balance of the administration’s estate account.

Realisations charge deferred previous period

This column is pre-filled from / validated against the realisations charge deferred to next period that was reported for the administration in the previous AAR.

Realisations charge due for current period

This column automatically calculates the total realisations charge that is due based on the realisations charge liable receipts and exempt payments that the practitioner has reported in the previous columns.

Note: under subsection 6(1A) of the Bankruptcy (Estate Charges) Act 1997, no charge is payable in respect of a particular administration if the amount of realisations charge calculated as due for a charge period is less than $10.  If a practitioner chooses to not pay the realisations charge because it is less than $10, an amount of zero is reported here.

Realisations charge deferred to next period

Where a practitioner intends to defer payment of the realisations charge due for the administration, this must be reported here.  Section 280 of the Bankruptcy Act allows for realisations charge to be deferred to the next AAR period if the realisations charge is less than $50 and the administration is not finalised.  A partial deferral of realisations charge is not allowed.

Realisations charge liability for the period

This column automatically calculates the total realisations charge liability, including any previously deferred realisations charge.  If payment of realisations charge is being deferred to the next AAR period or the amount of realisations charge is not being paid due to being less than $10, a liability amount of zero is reported here.

Interest charge deferred previous period

This column is pre-filled from / validated against the interest charge deferred to next period that was reported for the administration in the previous AAR.

Interest charge due for current period

This column automatically calculates the interest charge that is due based on the interest earned and bank fees/charges entered at columns 17 and 25 respectively.

Note: under subsection 5(1A) of the Bankruptcy (Estate Charges) Act 1997, no charge is payable in respect of a particular administration if the amount of interest charge calculated as due for a charge period is less than $10.  If a practitioner chooses to not pay the interest charge because it is less than $10, an amount of zero is reported here.

Interest charge deferred to next period

Where a practitioner intends to defer payment of the interest charge due for the administration this must be reported here.  Section 280 of the Bankruptcy Act allows for interest charge to be deferred to the next AAR period if the interest charge is less than $50 and the administration is not finalised.  A partial deferral of interest charge is not allowed.

Interest charge liability for the period

This column automatically calculates the total interest charge liability, including any previously deferred interest charge.  If payment of interest charge is being deferred to the next AAR period, the liability will be zero.

Finalisation date

Where a practitioner has finalised an administration during the year, the date of finalisation needs to be recorded in this column.

Note: an error will be displayed if a finalisation date is supplied and:

• the administration has a closing balance
• it is s188 administration
• the practitioner has transferred an estate to another trustee
• it does not fall within the AAR period being lodged
• the practitioner has reported a deferral to next period of realisations or interest charge.

Comments

Optional comments can be reported here.  This may be helpful when resubmitting new AAR data for an administration or when amending an AAR for a previous period.

AAR Period

This cell is pre-filled with the AAR financial year period for the administrations for which the practitioner will be submitting AAR data.  When an AAR form is submitted, the year must match the online selected AAR period.

Practitioner number

This cell is pre-filled with the practitioner number for the administrations for which the practitioner will be submitting AAR data.  When an AAR form is submitted, the practitioner number must match the online selected practitioner number.

AAR rate

This cell is pre-filled with the applicable realisations charge rate for the AAR financial year period for which the practitioner will be submitting AAR data.  This is used for the automatic calculation of realisations charge due for an administration.

Administration details

These columns are pre-filled with details of administrations that were active at any time during the financial year and the practitioner was the administrator at any time during the financial year, as per AFSA’s records.

Date proposal was lodged with Official Receiver

This column is pre-filled with the date the debt agreement proposal was lodged with the Official Receiver.  This date is relevant for determining which debt agreements attract the realisations charge and interest charge.

Opening balance

The column is pre-filled with the closing balance reported for the administration in the previous AAR.

Note: opening balances will not pre-fill for the 2014-15 AAR period.

Funds transferred from another practitioner

Where a debt agreement has been transferred from another administrator (including from the Official Trustee), the money, if any, that was transferred with that debt agreement needs to be entered in this column.

Debt agreement payments collected

Receipts from debtors during the course of the year are shown in this column.

These receipts attract the realisations charge if the debt agreement arose from a proposal that was lodged with the Official Receiver on or after
1 July 2007.

Other receipts not subject to realisations charge

Where an administrator receives any other type of money in relation to the debt agreement, it is shown in this column.  These types of receipts will be rare but could include instances where a dividend cheque was returned unpresented by a creditor or where a person returns a dividend cheque that may have been issued by the administrator in error.  These types of receipts do not attract the realisations charge.

Total receipts

This column automatically calculates the total receipts that the practitioner has had in an administration.

Expenses

Where a practitioner makes any payments to cover expenses in relation to the debt agreement, these amounts are entered in this column.  An example of such an expense will be where a cheque received from the debtor under the debt agreement payment plan is dishonoured and the bank charges a dishonour fee.

Administration fees

Any fees drawn by the practitioner during the course of the financial year are reported here.

Dividends paid to creditors

The total dividends paid to creditors during the financial year are shown in this column.

Other payments

Where the practitioner has made any other payments in relation to the debt agreement, the amount needs to be shown in this column.  Such payments will be rare but may include for instance a dividend cheque that was returned in a previous financial year and reissued in the current financial year.

Realisations charge payments

The amount of realisations charge payments that the practitioner has already made during the AAR period need to be recorded here.  This does not include realisations charge payments the practitioner intends on making after submission of the AAR.

Refunds to debtor

Any refunds paid to the debtor are recorded in this column.  Entries in this column would be extremely rare but could arise where creditors withdraw their claims or total receipts from the debtor are more than sufficient to complete the agreement.

Total payments

This column automatically totals all the payments made from the administration during the AAR period.

Funds transferred to another practitioner

If the administration of a debt agreement has been transferred to another administrator (including to the Official Trustee), any money that was transferred as part of the administration needs to be recorded here.

Closing balance

This column automatically calculates the closing balance in the administration based on the receipts and payments disclosed in the previous columns.  This balance should be the same as the administration’s bank balance.

Realisations charge deferred previous period

This column is pre-filled from / validated against the realisations charge deferred to next period that was reported for the administration in the previous AAR.

Realisations charge due for current period

This column automatically calculates the total realisations charge that is due based on the realisations charge liable receipts that are reported in the previous columns.

Note: under s6(1A) of the Bankruptcy (Estate Charges) Act 1997, no charge is payable in respect of a particular administration if the amount of realisations charge calculated as due for a charge period is less than $10.  If the practitioner chooses to not pay the realisations charge because it is less than $10, an amount of zero is reported here.

Realisations charge deferred to next period

Where the practitioner intends to defer payment of the realisations charge due for the administration, this must be reported here.  Section 280 of the Act allows for realisations charge to be deferred to the next AAR period if the realisations charge is less than $50 and the administration is not finalised.  A partial deferral of realisations charge is not allowed.

Realisations charge liability for the period

This column automatically calculates the total realisations charge liability, including any previously deferred realisations charge.  If payment of realisations charge is being deferred to the next AAR period or the amount of realisations charge is not being paid due to being less than $10, a liability amount of zero is reported here.

Finalisation date

Where the practitioner has finalised the administration of the debt agreement (for example, where all distributions have been made and the administrator has no further duties under the agreement), the date of the last distribution to creditors is to be inserted in this column as the finalisation date.

Note: the finalisation date is not the date of completion; where the debtor has made all payments under the agreement to the administrator.

Total value of creditor claims

Where a debt agreement has been reported as finalised, the total value of claims by creditors is supplied here.

Comments

Optional comments can be reported here.  This may be helpful when resubmitting new AAR data for an administration or when amending an AAR for a previous period.