Annual Report 2017-18

                                                                                             Financial Statements 2018



Noosa Shire Council

Notes to the Financial Statements
for the year ended 30 June 2018

Note 31. Transactions with Related Parties

                                                                                                                     2016
(a) Subsidiaries (ie. Entities and Operations controlled by Council)

Council has no interest in any Subsidiaries.



(b) Associates

Council has a participating interest in the Northern SEQ Distributor-Retailer Authority (trading as Unitywater)
governed by a Participation Agreement.

Transactions with Unitywater

The amount of revenue and expenditure include in the Statement of Comprehensive Income, and the amount
receivable or payable to Unitywater are as follows:

                                                                      Additional                   2018              2017
                                                                    Information                    $'000             $'000
Revenue
Interest on loans                                                           3(c)                   2,549            2,623
Taxation equivalents                                                                               3,067            1,456
Dividends                                                                   3(c)                      30            1,568
Other revenue                                                                                          -                7

Amounts receivable
Interest                                                                                             637                 656
Dividends                                                                                              -                 925
Taxation equivalents                                                                               1,180                 477

Loans
Loans                                                                                            49,218            49,218

Unitywater operates under an income tax equivalent regime; with all tax paid being distributed to the participating
Councils on a pro-rata basis to their participation rights.
Dividends received by Council from Unitywater are recorded as a reduction in the carrying value of the non-current
asset.

Shareholder loans provide for a fixed interest rate with quarterly interest only payments.
Further detail regarding Unitywater is contained in Note 23 Equity Investments.



(c) Joint Ventures

Council has no interest in any Joint Ventures.




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