Fair measurement hierarchy for assets as at 30 June 2017 Fair measurement at end of reporting period using: 2017 Carrying amount as at 1 Level 2 Level 3 30 June 2017 $m $m $m $m Land at fair value Land 9,409.6 478.2 8,931.4 – land at fair value 9,049.6 478.2 8,931.4 – Buildings at fair value Buildings 9,960.5 9,960.5 – – Total of buildings at fair value 9,960.5 9.960.5 – – Heritage buildings at fair value Heritage Buildings 103.1 103.1 – – Total of heritage buildings at fair value 103.1 103.1 – – Leasehold buildings at fair value Leasehold buildings 383.2 383.2 – – Total of leasehold buildings at fair value 383.2 383.2 – – Leasehold improvements at cost Leasehold improvements 2.9 2.9 – – Total of leasehold improvements at cost 2.9 2.9 – – Plant and equipment at fair value Plant and equipment 87.7 22.8 64.9 – Total of plant and equipment at fair value 87.7 22.8 64.9 – Revaluations of non-financial physical assets Non-financial physical assets are measured at fair value on a cyclical basis, in accordance with Financial Reporting Direction (FRD) 103F Non-financial physical assets issued by the Minister for Finance. A full revaluation normally occurs every five years, based upon the asset’s government purpose classification but may occur more frequently if fair value assessments indicate material changes in values. Independent
Fair measurement hierarchy for assets as at 30 June 2017 Fair measurement at end of reporting period using: 2017 Carrying amount as at 30 June 2017 $m 1 $m Level 2 $m Level 3 $m Land at fair value Land 9,409.6 – 478.2 8,931.4 land at fair value 9,049.6 – 478.2 8,931.4 Buildings at fair value Buildings 9,960.5 – – 9,960.5 Total of buildings at fair value 9,960.5 – – 9.960.5 Heritage buildings at fair value Heritage Buildings 103.1 – – 103.1 Total of heritage buildings at fair value 103.1 – – 103.1 Leasehold buildings at fair value Leasehold buildings 383.2 – – 383.2 Total of leasehold buildings at fair value 383.2 – – 383.2 Leasehold improvements at cost Leasehold improvements 2.9 – – 2.9 Total of leasehold improvements at cost 2.9 – – 2.9 Plant and equipment at fair value Plant and equipment 87.7 – 22.8 64.9 Total of plant and equipment at fair value 87.7 – 22.8 64.9 Revaluations of non-financial physical assets Non-financial physical assets are measured at fair value on a cyclical basis, in accordance with Financial Reporting Direction (FRD) 103F Non-financial physical assets issued by the Minister for Finance. A full revaluation normally occurs every five years, based upon the asset’s government purpose classification but may occur more frequently if fair value assessments indicate material changes in values. Independent