2019-12-10 S&O Agenda - Item 7 - Attachment 1 - TN Annual Report-2018-19

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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.
                                                                       2019                     2018
           Key Management Personnel Compensation                         $                        3
           - Directors Expenses Reimbursement                            22,066                   21,339
                                                                         22,066                   21,339
 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.

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