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Discounting of employee benefits in accordance with AASB119

Purpose

This bulletin is to advise councils of the rates applicable to Commonwealth Government Securities as at 30 June 2016 for the purpose of discounting employee benefits under Accounting Standard AASB119 Employee Benefits.

Overview

Main features of the standard

The Tropical illustrative financial statements model provides further guidance on classification of leave entitlements.

Rates

The Commonwealth Bond yields at close of business on 30 June 2016 were as follows:

Maturity Coupon Mid yield
Feb-17 6.00% 1.60%
Jul-17 4.25% 1.59%
Jan-18 5.50% 1.58%
Oct-18 3.25% 1.59%
Mar-19 5.25% 1.56%
Oct-19 2.75% 1.57%
Apr-20 4.50% 1.56%
Nov-20 1.75% 1.60%
May-21 5.75% 1.66%
Jul-22 5.75% 1.75%
Apr-23 5.50% 1.83%
Apr-24 2.75% 1.91%
Apr-25 3.25% 1.97%
Apr-26 4.25% 2.00%
Apr-27 4.75% 2.05%
Apr-29 3.25% 2.21%
Apr-33 4.50% 2.38%
Jun-35 2.75% 2.55%
Apr-37 3.75% 2.59%

Further information

Any further enquiries on this matter should be addressed to:

Mrs Samantha Cieslar
Department of Infrastructure, Local Government and Planning
PO Box 15009
City East QLD 4002
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.