2021-02-09 S&O Agenda - Item 11 - Attachment 1 - Tourism Noosa Annual Report 2019-20

Note 9                      Employee Provisions

CURRENT                                                                                   2020                       2019
Short-term Employee Benefits                                                                $                          $
                         Opening balance at 1 July                                          48,463                   101,469
                         Movements during the year                                            5,931                  (53,006)
                         Balance at 30 June                                                 54,394                    48,463



PAYG Tax                                                                                    45,286                    70,880

NON-CURRENT
Long-term Employee Benefits (Long Service Leave)
                          Opening balance at 1July                                    19,017                          21,022
                          Movements during the year                                     (837)              837        (2,005)
                          Balance at 30 June                                          18,180                          19,017
Employee Provisions
Employee provisions represent amounts accrued for annual leave and long service leave.

The current portion for this provision includes the total amount accrued for annual leave entitlements and the amounts
accrued for long service leave entitlements that have vested due to employees having completed the required period of
service. Based on past experience the company does not expect the full amount of annual leave or long service leave
balances classified as current liabilities to be settled within the next 12 months. However, these amounts must be classified
as current liabilities since the company does not have an unconditional right to defer the settlement of these amounts in
the event employees wish to use their leave entitlement.


The non-current portion for this provision includes amounts accrued for long service leave entitlements that have not yet
vested in relation to those employees who have not yet completed the required period of service.

Note 10                     Related Party Transactions

a.                         Key Management Personnel

                           Any person(s) having authority and responsibility for planning, directing and controlling the
                           activities of the company, directly or indirectly, including any director (whether executive or
                           otherwise) is considered key management personnel.
                                                                                            2020                      2019
                           Key Management Personnel Compensation                               $                        $
                           —Directors Expenses Reimbursement                                      100                  22,066
                                                                                                  100                  22,066

Transactions between related parties are on normal commercial terms and conditions no more favourable than those
available to other persons unless otherwise stated.

Note 11                     Entity Details

The registered office of the entity is:
                            Tourism Noosa Ltd
                            Shop 22 Noosa Harbour Marine Village
                            2 Parkyn Court
                            Tewantin QLD 4565

The principal place of business is:
                           Tourism Noosa Ltd
                           Shop 22 Noosa Harbour Marine Village
                           2 Parkyn Court
                           Tewantin QLD 4565

Note 12                     Members' Guarantee


The entity is incorporated under the Corporations Act 2001 and is an entity limited by guarantee. If the entity is wound up,
the constitution states that each member is required to contribute a maximum of $10.00 each towards meeting any
outstandings and obligations of the entity.
                             Shop 22 Noosa Harbour Marine Village
                             2 Parkyn Court
                             Tewantin QLD 4565