16.  Accounting treatment

Accounting and taxation matters are a complex part of PPP transactions and require the advice of specialist advisers and liaison with Queensland Treasury. The national PPP guidelines Volume Two: Practitioner's Guide contains current advice on accounting and taxation matters that are also relevant in Queensland (refer Chapter Nine, page 40 and Appendices F and G).

Queensland Treasury must be consulted on accounting issues and kept informed as to the likely balance sheet status of PPP projects and the Budget implications of the accounting treatment.

Early consultation with the Auditor-General's Office on PPP accounting is also desirable to ensure that the correct accounting framework and any relevant accounting standards are appropriately considered and applied.