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Federal
Corporate Commonwealth Entity
Finance and Treasury

Reserve Bank of Australia

Portfolio: Treasury

https://www.rba.gov.au/

Annual Budget

$1.5B

2025-26 Budget
Flat vs prior year
Total Revenue

$9.8B

2024-25 Total Revenue
Staff

1,600

Headcount (2024-25)
Major Digital Projects
17

Big Data, Timely Insights (BDTI)

Australian Bureau of Statistics

Tier 1
DCA: Medium-High
Active

Total Budget

$225M

Digital Budget

$133.1M

July 2023June 2030

BDTI Phase 2 provides a pathway off legacy ICT systems, ensuring the Australian Bureau of Statistics maximises the reuse of new tools and lessons across the organisation. The project involves rebuilding and securing the Consumer Price Index (CPI) ICT system, delivering a complete monthly measure of the CPI, building the business statistics production process in the cloud, replacing the legacy Business Register with an expanded Business Characteristics Asset in the cloud, and industrialising the Australian Bureau of Statistics cloud environment. At the time of preparing this report, this project is subject to the escalation protocols set out in the Assurance Framework for Digital and ICT Investments. These protocols are designed to support agencies in the timely resolution of delivery challenges.

Counter Fraud Program (Protecting against fraud and strengthening system integrity)

Australian Taxation Office

Tier 1
DCA: Medium-High
Active

Total Budget

$187M

Digital Budget

$68.4M

July 2024June 2028

The Counter Fraud Program will strengthen the Australian Taxation Office’s ability to prevent, detect, contain and bring consequence to fraud and financial crime against the tax and superannuation systems.

Foreign Investment Digital Transformation (FIDT) Program

Department of the Treasury

Tier 1
DCA: Medium
Closed

Total Budget

$70M

Digital Budget

$68.8M

September 2020June 2025

The Treasury is undertaking a transformation program to support the government’s foreign investment framework and replace the current Foreign Investment Management System. This program will deliver a fully functional end-to-end case management system, a register of foreign ownership of Australian assets, and an improved analytics capability. On 25 June 2025, the FIDT Program was formally closed following the successful delivery of all approved program outcomes. As part of the program closure, Treasury successfully transitioned the capabilities into ongoing sustainment and support.

Payday Super Program

Australian Taxation Office

Tier 1
DCA: Medium-Low
Active

Total Budget

$403.3M

Digital Budget

$262.2M

September 2024June 2028

The Payday Super project will address the systemic issue of unpaid and underpaid super guarantee by employers, by moving the obligation to pay from a quarterly to payday cycle. The Australian Taxation Office is building and improving data matching capabilities to match employers’ payroll data with super contribution data, providing it with near real-time visibility as to whether employers have met their obligations. The government will also redesign the super guarantee legislation in line with the move to payday super. Penalties and charges will reflect the serious nature of unpaid or underpaid super guarantee and will be recalibrated to encourage prompt rectification of non-payment with scalable consequences to deter severe or repeated non-compliance. At the time of preparing this report, this project is subject to the escalation protocols set out in the Assurance Framework for Digital and ICT Investments. These protocols are designed to support agencies in the timely resolution of delivery challenges. The delivery confidence of the program has improved following the passage of legislation in November 2025.

RegistryConnect Program

Australian Securities and Investments Commission

Tier 1
DCA: Medium-High
Active

Total Budget

$361.5M

Digital Budget

$288.4M

November 2023June 2030

The Australian Securities and Investments Commission (ASIC) RegistryConnect Program will deliver reliable, secure, trusted and efficient registry services to support the economy for the benefit of all Australians. The program’s objectives include: stabilising Registry technology to increase the security, reliability and performance of ASIC registers; modernising and uplifting the registers, user channels and interfaces; improving the quality and integrity of registry data; achieving policy and law reform; and developing enduring capabilities.

2026 Census - Addressing Risks and Delivering a High Quality, Trusted Census

Australian Bureau of Statistics

Tier 2
DCA: Medium-High
Active

Total Budget

$726M

Digital Budget

$164.4M

January 2022December 2027

The Census and Statistics Act 1905 requires the Australian Bureau of Statistics to conduct a Census every 5 years. The Census provides the base for official counts of Australians and the dwellings they live in. It is a snapshot of the economic, social and cultural make-up of the nation, and tells the story of how Australia is changing over time.

Better Targeted Superannuation Concessions (BTSC)

Australian Taxation Office

Tier 2
DCA: Medium-High
Active

Total Budget

$51.4M

Digital Budget

$28.6M

July 2023September 2027

The BTSC measure aims to reduce tax concessions for individuals with a total superannuation balance exceeding $3 million, effective from 1 July 2026. This project is enabling the delivery of this measure with first assessments expected to be issued in the second half of 2027–28.

Cyber Digital Transformation X (Cyber DTx)

Australian Securities and Investments Commission

Tier 2
DCA: Medium
Active

Total Budget

$45.5M

Digital Budget

$45.5M

July 2024June 2028

The Cyber DTx Initiative will enhance existing cyber capabilities to secure ASIC’s existing and future networks, systems and data. The program will deliver a range of capabilities that secure ASIC regulatory systems and uplift maturity against the Cyber Essential Eight Maturity Model.

Data Acquisition Modernisation Program

Australian Bureau of Statistics

Tier 2
DCA: Medium
Active

Total Budget

$98.1M

Digital Budget

$50.8M

January 2025June 2027

The Australian Bureau of Statistics Data Acquisition Modernisation program aims to: • improve the digital experience for key surveys and allow for modern, accessible, and secure data collection processes • transform and modernise the Australian Bureau of Statistics contact centre to improve the experience for our customers and staff • continue to modernise and replace legacy IT systems by transitioning key products and processes to a secure and scalable cloud environment.

Data and Technology Program – Governance Uplift and Investment in Data Enablement (GUIDE)

Australian Prudential Regulation Authority

Tier 2
DCA: Medium-High
Active

Total Budget

$73.2M

Digital Budget

$38M

July 2024June 2028

The GUIDE program is a multi-year strategic investment in data capabilities and security position of the Australian Prudential Regulation Authority (APRA), including APRA’s supervision management system. By investing in data governance, security and infrastructure, the program aims to ensure that APRA can continue to effectively fulfil its mandate, mitigate risks and support the stability and resilience of the Australian financial system.

Implementation of a Global and Domestic Minimum Tax (Pillar 2)

Australian Taxation Office

Tier 2
DCA: Medium-High
Active

Total Budget

$110.5M

Digital Budget

$33.6M

July 2023June 2028

The Global Minimum Tax and Domestic Minimum Tax are part of a coordinated effort to address tax challenges arising from the digitalisation of the economy. Australia, along with more than 130 other jurisdictions, agreed to a statement that set out the framework for Pillar 2 (the Global Anti-Base Erosion [GloBE] Model Rules). Implementing Pillar 2 will further strengthen Australia’s ability to address multinational tax avoidance. The investment provides the Australian Taxation Office with the means to ensure resources are available for the ICT and data requirements to implement and administer this measure, as well as ensuring a strong ongoing compliance, advice and education focus to support the in-scope population. At the time of preparing this report, this project is subject to the escalation protocols set out in the Assurance Framework for Digital and ICT Investments. These protocols are designed to support agencies in the timely resolution of delivery challenges.

Modernisation of Tax Administration systems (MTAS)

Australian Taxation Office

Tier 2
DCA: Medium
Active

Total Budget

$87.9M

Digital Budget

$69.7M

January 2025June 2029

Improvements to Australian Taxation Office systems will reduce compliance costs on an ongoing basis for trustees, beneficiaries and tax agents – making lodgement easier and enabling the vast majority of trust tax returns to be lodged electronically. The improvements will also enable prefill of trust income for beneficiaries, in the same way salary and wages, bank interest and other types of income are currently prefilled. Prefill capability will be enhanced by proposed legislative amendments that require trustees to report the Tax File Numbers of beneficiaries on the trust income tax return’s Statement of Distribution when they have an entitlement to trust income.

National Anti-Scam Centre (NASC)

Australian Competition and Consumer Commission

Tier 2
DCA: Medium
Active

Total Budget

$80.5M

Digital Budget

$42.7M

July 2023June 2026

The NASC is a world-leading initiative to make Australia the hardest country for scammers to victimise citizens in. It will disincentivise scammers from targeting Australia and result in significantly less scam attempts.

Critical Minerals Production Tax Incentive

Australian Taxation Office

Tier 3
Active

Total Budget

$12M

Digital Budget

$2M

June 2024December 2029

The Critical Minerals Production Tax Incentive were announced in the 2024–25 Budget under the measure, Future Made in Australia – Making Australia a Renewable Energy Superpower. The Australian Taxation Office is responsible for assessing tax claims under this project, including assessing payment eligibility, and processing tax payments, in consultation with Department of Industry, Science and Resources.

Cyber Security Program (previously Building Cyber Resilience)

Australian Taxation Office

Tier 3
Active

Total Budget

$136.4M

Digital Budget

$136.4M

January 2018December 2026

The program focuses on uplifting Cyber Essential Eight Maturity to Level 2, providing fit-for-purpose security services to protect the Australian Taxation Office’s digital ecosystem. The program’s outcomes will increase the Australian Taxation Office’s cyber maturity by delivering enhanced cyber capabilities and technologies.

Hydrogen Production Tax Incentive

Australian Taxation Office

Tier 3
Active

Total Budget

$9.5M

Digital Budget

$4.8M

June 2024December 2029

The Hydrogen Production Tax Incentive were announced in the 2024–25 Budget under the measure, Future Made in Australia – Making Australia a Renewable Energy Superpower. The Australian Taxation Office is responsible for assessing tax claims under this project, including assessing payment eligibility, and processing tax payments, in consultation with the Clean Energy Regulator.

Payment Times Reporting Scheme (PTRS) - ICT Infrastructure rebuild

Department of the Treasury

Tier 3
Active

Total Budget

$8.9M

Digital Budget

$8.9M

July 2024June 2026

This ICT infrastructure rebuild supports improved reporting following reforms to the Payment Times Reporting Scheme. A modern portal will streamline and reduce the regulatory burden of reporting, and the public will be able to search and interrogate payment times information, including the best and worst paying large businesses using new dashboards. Increasing the transparency of large businesses’ payment performance towards their small business suppliers can incentivise fairer and faster payments to small business.

Ideas relevant to this department

8 tagged

Reform proposals on YourGov that name this department as a delivery partner — drawn from citizen voice, government strategy, research, international examples and gap analysis.

STRATEGY SUMMARY

To promote the economic prosperity and welfare of the Australian people, now and into the future

VISION

To be an open and dynamic central bank trusted for the quality of our analysis, policy and service delivery

Corporate Plan 2025 · p.6

PURPOSE

To promote the economic prosperity and welfare of the Australian people, now and into the future

Corporate Plan 2025 · p.4

Strategic priorities

· 5

1

Monetary policy that is fit for the future

Corporate Plan 2025 · p.8
2

Highly resilient payment and banking services

Corporate Plan 2025 · p.9
3

Shaping the future of money in Australia

Corporate Plan 2025 · p.9
4

High-quality leadership and an open and dynamic culture

Corporate Plan 2025 · p.10
5

Smarter, simpler and faster ways of working

Corporate Plan 2025 · p.10

Outcomes

· 1

Outcome 1: Climate change and energy

Technological innovation and changing preferences mean that the landscape for retail payments and financial market infrastructure is evolving rapidly. We are helping to shape the future of money by exploring the case for new digital forms of money, and by ensuring cash remains a viable means of payment for those who need or want it.

KEY ACTIVITIES

  • Determining whether a policy case for a central bank digital currency exists
  • Supporting innovation and resilience in wholesale digital payments
  • Supporting access to physical cash

Values

· 5

Promotion of the public interest

Integrity

Excellence

Intelligent inquiry

Respect

Performance measures

· 2

CodeMeasureTarget 2025-26Latest resultStatus

CCE01

Consumer price inflation

between 2 and 3 per cent

Corporate Plan 2025 · p.12

within the 2–3 per cent target range

Annual Report 2025 · p.10
Achieved

FSS01

RITS Fast Settlement Service availability

99.995 per cent on a 24/7 basis

Corporate Plan 2025 · p.14

99.995 per cent on a 24/7 basis

Annual Report 2025 · p.14
Achieved

Ideas distilled from this entity's strategy & evidence

· 8

Data & Performance

Enhance real-time monitoring of RITS availability

While RITS availability targets are high (99.95%), the corporate plan doesn't detail real-time public or internal dashboards for immediate issue identification and communication. Implement enhanced, real-time monitoring with automated alerts for any dip below target availability, enabling faster response and stakeholder notification.

Impact: Medium
Effort: Low
Small

2025-26.pages.jsonl

Strategy & Reform

Establish formal knowledge-sharing mechanism for CBDC research

The RBA is assessing the case for a retail central bank digital currency (CBDC) in Project Acacia, drawing on international experiences. To ensure comprehensive and up-to-date insights, establish a formal, ongoing knowledge-sharing mechanism with international central banks and research institutions actively exploring CBDCs, beyond the current project scope.

Impact: High
Effort: Medium
Large

2025-26.pages.jsonl

Risk & Assurance

Expand scenario testing for payments system resilience

The RBA aims to strengthen payments system resilience. While cyber resilience is mentioned, a more proactive approach involves regular, complex, cross-institutional scenario testing simulating diverse systemic shocks (e.g., major cyber-attack, natural disaster impacting critical infrastructure, geopolitical event). This would go beyond routine testing to identify previously unrecognised vulnerabilities.

Impact: Very High
Effort: High
Large

2025-26.pages.jsonl

Citizen Services

Implement structured feedback mechanism for government banking services

The RBA aims to provide 'fit for purpose' banking services to government agencies. Currently, there's no explicit mention of a formal, ongoing customer feedback mechanism beyond general performance benchmarks. Introduce a structured annual survey or regular consultation process specifically for government banking clients to identify pain points and opportunities for improvement.

Impact: Medium
Effort: Low
Small

2025-26.pages.jsonl

Regulation & Policy

Increase transparency around the framework for additional monetary policy tools

The RBA plans to 'progress' and 'maintain and adapt' a framework for additional monetary policy tools. To enhance public understanding and market confidence, consider publishing a more detailed, non-confidential overview of the RBA's framework, including the conditions under which these tools might be deployed and their intended effects, beyond current policy board communications.

Impact: Medium
Effort: Low
Small

2025-26.pages.jsonl

Data & Performance

Publicly report on banknote quality metrics

The RBA aims to maintain high-quality banknotes. While the Reserve Bank Online Banknotes Survey measures public confidence, specific operational metrics on banknote quality (e.g., percentage of unfit notes withdrawn, average lifespan of notes in circulation) are not explicitly detailed for public reporting. Introduce a simple annual report on these operational quality indicators to complement the confidence survey.

Impact: Low
Effort: Low
Small

2025-26.pages.jsonl

Citizen Participation

Develop a dedicated platform for financial stability risk communication

The RBA is committed to communicating financial stability risks regularly. To enhance accessibility and engagement, consider developing a dedicated online platform or section on the RBA website that aggregates all financial stability assessments, risk reports, and related policy discussions in a user-friendly format, potentially including interactive elements or simplified summaries.

Impact: High
Effort: Medium
Large

2025-26.pages.jsonl

Capability Building

Establish formal governance for ongoing ISO 20022 standard changes

The RBA is supporting the industry's migration to ISO 20022 and embedding a framework for ongoing changes. To ensure long-term adaptability and efficiency, formalise the governance structure for managing these future standard changes, including clear roles, responsibilities, and decision-making processes for assessing, approving, and implementing updates to RITS functionality.

Impact: High
Effort: Medium
Large

2025-26.pages.jsonl

Data & Performance

Enhance real-time monitoring of RITS availability

While RITS availability targets are high (99.95%), the corporate plan doesn't detail real-time public or internal dashboards for immediate issue identification and communication. Implement enhanced, real-time monitoring with automated alerts for any dip below target availability, enabling faster response and stakeholder notification.

Impact: Medium
Effort: Low
Small

2025-26.pages.jsonl

Strategy & Reform

Establish formal knowledge-sharing mechanism for CBDC research

The RBA is assessing the case for a retail central bank digital currency (CBDC) in Project Acacia, drawing on international experiences. To ensure comprehensive and up-to-date insights, establish a formal, ongoing knowledge-sharing mechanism with international central banks and research institutions actively exploring CBDCs, beyond the current project scope.

Impact: High
Effort: Medium
Large

2025-26.pages.jsonl

Risk & Assurance

Expand scenario testing for payments system resilience

The RBA aims to strengthen payments system resilience. While cyber resilience is mentioned, a more proactive approach involves regular, complex, cross-institutional scenario testing simulating diverse systemic shocks (e.g., major cyber-attack, natural disaster impacting critical infrastructure, geopolitical event). This would go beyond routine testing to identify previously unrecognised vulnerabilities.

Impact: Very High
Effort: High
Large

2025-26.pages.jsonl

Citizen Services

Implement structured feedback mechanism for government banking services

The RBA aims to provide 'fit for purpose' banking services to government agencies. Currently, there's no explicit mention of a formal, ongoing customer feedback mechanism beyond general performance benchmarks. Introduce a structured annual survey or regular consultation process specifically for government banking clients to identify pain points and opportunities for improvement.

Impact: Medium
Effort: Low
Small

2025-26.pages.jsonl

Regulation & Policy

Increase transparency around the framework for additional monetary policy tools

The RBA plans to 'progress' and 'maintain and adapt' a framework for additional monetary policy tools. To enhance public understanding and market confidence, consider publishing a more detailed, non-confidential overview of the RBA's framework, including the conditions under which these tools might be deployed and their intended effects, beyond current policy board communications.

Impact: Medium
Effort: Low
Small

2025-26.pages.jsonl

Data & Performance

Publicly report on banknote quality metrics

The RBA aims to maintain high-quality banknotes. While the Reserve Bank Online Banknotes Survey measures public confidence, specific operational metrics on banknote quality (e.g., percentage of unfit notes withdrawn, average lifespan of notes in circulation) are not explicitly detailed for public reporting. Introduce a simple annual report on these operational quality indicators to complement the confidence survey.

Impact: Low
Effort: Low
Small

2025-26.pages.jsonl

Citizen Participation

Develop a dedicated platform for financial stability risk communication

The RBA is committed to communicating financial stability risks regularly. To enhance accessibility and engagement, consider developing a dedicated online platform or section on the RBA website that aggregates all financial stability assessments, risk reports, and related policy discussions in a user-friendly format, potentially including interactive elements or simplified summaries.

Impact: High
Effort: Medium
Large

2025-26.pages.jsonl

Capability Building

Establish formal governance for ongoing ISO 20022 standard changes

The RBA is supporting the industry's migration to ISO 20022 and embedding a framework for ongoing changes. To ensure long-term adaptability and efficiency, formalise the governance structure for managing these future standard changes, including clear roles, responsibilities, and decision-making processes for assessing, approving, and implementing updates to RITS functionality.

Impact: High
Effort: Medium
Large

2025-26.pages.jsonl

Legislation administered

· 19

Act

1959

Reserve Bank Act 1959

Establishes the Reserve Bank of Australia and outlines its functions, including determining and implementing monetary policy, contributing to financial system stability, supporting the payments system, providing banking services to the government, and issuing banknotes.

Act

1998

Payment Systems (Regulation) Act 1998

Provides the Reserve Bank of Australia with powers to regulate payment systems to control risk, promote efficiency, and promote competition.

Act

1998

Payment Systems and Netting Act 1998

Facilitates the netting of payment obligations and provides for the finality of settlement in payment systems, with the Reserve Bank of Australia having a role in ensuring these operate effectively.

Act

2001

Corporations Act 2001

Grants the Reserve Bank of Australia powers related to licensing and crisis resolution for clearing and settlement facilities, contributing to financial system stability.

Act

1965

Currency Act 1965

Provides for the currency of Australia, including the issue of legal tender, with the Reserve Bank of Australia responsible for the design, production and distribution of Australian banknotes.

Act

1911

Commonwealth Bank Act 1911

The historical Act under which the Reserve Bank of Australia was originally established as a body corporate.

Act

1945

Commonwealth Bank Act 1945

Continued the Reserve Bank of Australia in existence as a body corporate.

Act

1973

Remuneration Tribunal Act 1973

Establishes the Remuneration Tribunal to determine remuneration for principal executive offices, including the Governor and Deputy Governor of the Reserve Bank of Australia.

Instrument

2025

Note Printing Australia Limited Charter

Governs the operations of Note Printing Australia Limited, a wholly owned subsidiary of the RBA, responsible for producing Australian banknotes.

Instrument

2025

Statement on the Conduct of Monetary Policy

An agreement between the Treasurer and the Monetary Policy Board outlining the framework for achieving price stability and full employment.

Instrument

2025

Memorandum of Understanding between the RBA Boards

Establishes how the RBA's three boards will work together to advance the RBA's overarching objective.

Instrument

2025

Governance Board Charter

Outlines the responsibilities and functions of the RBA's Governance Board.

Instrument

2025

Monetary Policy Board Charter

Outlines the responsibilities and functions of the RBA's Monetary Policy Board.

Instrument

2025

Payments System Board Charter

Outlines the responsibilities and functions of the RBA's Payments System Board.

Instrument

2025

Audit and Risk Committee Charter

Outlines the responsibilities and functions of the RBA's Audit and Risk Committee.

Instrument

2025

RBA Code of Conduct for Governance Board Members

Sets out the ethical standards and conduct requirements for members of the Governance Board.

Instrument

2025

RBA Code of Conduct for Monetary Policy Board Members

Sets out the ethical standards and conduct requirements for members of the Monetary Policy Board.

Instrument

2025

RBA Code of Conduct for Payments System Board Members

Sets out the ethical standards and conduct requirements for members of the Payments System Board.

Instrument

2025

RBA Payments Policy Conflict of Interest Policy

Addresses potential conflicts of interest between the RBA's payments policy and banking departments.

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