Financial Management Act 2016

The Treasurer may, in writing, on behalf of the State – write off the State's right to payment of an amount payable to the State; or write off losses, or deficiencies, of money; or write off the value of lost, deficient, condemned, unserviceable, abandoned or obsolete property; or postpone any right of the State to be paid a debt in priority to another debt; or allow the payment by instalments of an amount payable to the State; or defer the time for payment of an amount payable to the State.

A write-off relating to an amount payable to the State by a person may be expressed to be subject to a condition that the person agrees to pay an amount to the State in circumstances specified in the write-off.

If any condition referred to in subsection (2) is breached, the amount of the write-off may be recovered as a debt due to the State in a court of competent jurisdiction.

A write-off relating to an amount payable to the State must be reported by the relevant Agency in the notes to the financial statements of that Agency that relate to the year in which the right to payment was waived.