McConnell Dowell Group Annual Review 2021 81 19. Contingent Liabilities All figures are in A$000's 2021 2020 Contingent liabilities at balance date, not otherwise provided for in the annual financial statements, arising from guarantees in the normal course of business from which it is anticipated that no material liabilities will arise: - bank guarantees 53,670 25,806 - letters of credit 6,633 12,166 - insurance bonds 356,757 287,402 Total contingent liabilities 417,060 325,374 The Group has banking and bonding facilities of $576.5 million (2020: $465.0 million). The assets of the Group are pledged under a fixed and floating charge as security controlled by ANZ Fiduciary Services Pty Ltd (Security Trustee) on behalf of the secured lenders. As at 30 June 2021, the Group had $159.5 million (2020: $139.0 million) available (unused) under these facilities. The Group sometimes has claims that arise out of engineering and construction contracts that have been made by or against the Group in the ordinary course of business. Please refer to Significant Accounting Judgements, Estimates and Assumptions in Note 1 for further information. The Group is subject to routine tax audits via the ATO in Australia and in certain other overseas jurisdictions. The ultimate outcome of any tax audit cannot be determined within any acceptable degree of reliability at this time. The Group believes that it is making adequate provision for its taxation liabilities (including amounts shown as current and deferred tax liabilities). However, there may be an impact to the Group if any revenue authority investigations results in an adjustment that increases the Group's taxation liabilities. Consolidated
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