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Note 11: Contingent Assets and Liabilities

Contingent Liabilities
  Indemnities Total
  2013 2012 2013 2012
  $'000 $'000 $'000 $'000
Contingent liabilities Balance from previous period 24,608 22,460 24,608 22,460
New contingent liabilities recognised - - - -
Re-measurement (1,066) 2,148 (1,066) 2,148
Liabilities recognised - - - -
Obligations expired - - - -
Total contingent liabilities 23,542 24,608 23,542 24,608
Net contingent liabilities 23,542 24,608 23,542 24,608

Departmental Quantifiable Contingencies

The Schedule of Contingencies reports contingent liabilities in respect of claims for damages/costs of nil (2012: nil).

DVA has no contingent assets (2012: nil).

The indemnity of $23,542,000 (2012: $24,608,000) in the Schedule of Contingencies represents the net assets of Defence Service Homes Insurance Scheme being an indemnity offered to policy holders by the Australian Government under the Defence Service Homes Act 1918.

Departmental Unquantifiable Contingencies

As at 30 June 2013, DVA has no unquantifiable contingencies (2012: nil).

Departmental Significant Remote Contingencies

As at 30 June 2013, DVA has no remote contingencies (2012: nil).

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