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The Australian Treasury was established in Melbourne in January 1901, after the federation of the six Australian colonies. [3] In 1910, the federal government passed the Australian Notes Act 1910 which gave control over the issue of Australian bank notes to The Treasury and prohibited the circulation of state notes and withdrew their status as legal tender.
The Treasurer of Australia, also known as the Federal Treasurer or more simply the Treasurer, is the minister of state of the Commonwealth of Australia charged with overseeing government revenue collection, federal expenditure and economic policy as the head of the Department of the Treasury.
The Assistant Treasurer of Australia is the minister of state of the Commonwealth of Australia charged with assisting the Treasurer with overseeing government revenue collection, federal expenditure and economic policy as the head of the Department of the Treasury.
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The Loans affair, also called the Khemlani affair, was a political scandal involving the Whitlam government of Australia in 1975 in which it was accused of attempting to borrow money from the Middle East by the agency of the Pakistani banker Tirath Khemlani (17 September 1920 — 19 May 1991) and thus bypass the standard procedures of the Australian Treasury and violate the Australian ...
David Neng Hwan Wang (12 February 1920 – 1 January 1978), was a Chinese-Australian businessman and the first Chinese-Australian elected to the Melbourne City Council.. Wang was born in Haimen county, Jiangsu province, China, the son of a prosperous peasant farmer, and studied radio communications in Shanghai before entering the military academy in Chongqing (Chungking), (then the temporary ...
In Australia, the Treasurer is a senior minister and usually the second or third most important member of the government after the Prime Minister and Deputy Prime Minister. Each Australian state and self-governing territory also has its own treasurer. [citation needed] From 1867 to 1993, Ontario's Minister of Finance was called the Treasurer of ...
Australian government debt does not take into account government funds held in reserve within statutory authorities such as the Australian Government Future Fund, which at 30 September 2016 was valued at $122.8 billion, [5] and the Reserve Bank of Australia. Nor is the net income of these statutory authorities taken into account.