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19. Related Party Transactions

a. Key management personnel compensation

The key management personnel compensation included in personnel expenses are as follows:

Key management personnel compensation

June
2020
$

June
2019
$

Short-term employee benefits

3,365,177

3,814,631

Post-employment benefits

213,469

251,354

Other long term benefits

338,681

62,062

3,917,327

4,128,047

There were 14 key management personnel for the year (2019: 14).

b. Loans to key management personnel

No loans were made available to key management personnel during the financial year.

c. Other key management personnel transactions with the consolidated entity

There have been no transactions with key management personnel during the financial year.

d. Subsidiaries

Interests in subsidiaries are set out in note 17(a).

e. Directors

The following were directors of ASC Pty Ltd during the entire financial year:

  • Bruce James Carter
  • Dr Rosalind Dubs
  • Paul John Rizzo
  • Loretta Reynolds
  • Joycelyn Morton
  • Stuart Whiley
  • Geoffrey Rohrsheim

The Hon Gary Gray AO was a director from the beginning of the financial year until his resignation on 11 March 2020.

f. Other related parties

Australian government ministers

There have been no transactions with any Australian government ministers during the financial year.

Shareholders

In performing its contracts, the consolidated entity has transacted on normal commercial terms and conditions with its shareholder, the CoA and its related entities.

The CoA is the ultimate parent entity.

g. Transactions with other related parties

During the year, the amounts received or receivable by the consolidated entity from the CoA for various projects was $607,136,000 (2019: $683,947,000).

Certain expenditure incurred by the consolidated entity on behalf of the shareholder has been recharged and will be settled in accordance with normal commercial terms and conditions.

h. Balances With Shareholders

Balances with shareholders

June
2020
$'000

June
2019
$'000

The aggregate amounts payable to the shareholders in relation to these transactions are:

-

-

The aggregate amounts receivable from the shareholders in relation to these transactions are:

94,192

159,815

i. Loans to/from the Commonwealth of Australia and its related parties Government Advance

Government advance

Government advance

June 2019

AUD

USD

GBP

CAD

EUR

JPY

Beginning of the year

59,553,483

7,368,103

451,286

2,015,093

11,569,081

12,078,961

Advances received

64,000,000

-

-

-

-

-

Advances repaid

-65,003,739

-6,004,955

-207,191

-1,800,000

-9,051,311

-12,078,961

Interest charged

-6,693

-

-

-

-

-

Interest received

546,253

-

-

-

-

-

End of year (source currency)

59,089,304

1,363,148

244,095

215,093

2,517,770

-

End of year (AUD equivalent)

$59,089,304

$1,943,745

$441,002

$234,124

$4,080,004

-

Total (AUD equivalent)

$65,788,179

June 2020

Beginning of the year

59,089,304

1,363,148

244,095

215,093

2,517,770

-

Advances received

36,000,000

-

-

-

-

-

Advances repaid

-36,000,000

-

-

-

-

-

Interest charged

-4,539

-

-

-

-

-

Interest received

96,332

-

-

-

-

-

End of year (source currency)

59,181,097

1,363,148

244,095

215,093

2,517,770

-

End of year (AUD equivalent)

$59,181,097

$1,986,229

$436,976

$229,136

$4,120,063

-

Total (AUD equivalent)

$65,953,501