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1.Financial performance

1.1 EXPENSES

EXPENSES

2020

2019

$'000

$'000

1.1 EXPENSES

1.1.A Employee benefits

Wages and salaries

215450

205231

Superannuation

Defined contribution plans

22709

20631

Defined benefit plans

15699

15606

Leave and other entitlements

24575

30423

Separation and redundancies

8655

186

Total employee benefits

287088

272077

1.1.B Suppliers

Goods supplied

6514

7704

Services Supplied

143387

147421

Operating lease rentals1

1320

42674

Workers' compensation premiums

778

847

Total supplier expenses

151999

198646

1 ASIO has applied AASB 16 using the modified retrospective approach and therefore the comparative information has not been restated and continues to be reported under AASB 117.

ASIO has no short-term lease commitments as at 30 June 2020.

The above lease disclosures should be read in conjunction with notes 1.1.C, 1.2.B, 2.2.A and 2.4.A.

Accounting policy

ASIO has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value (less than $10 000). ASIO recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term.

FINANCE COSTS

2020

2019

$'000

$'000

1.1.C Finance Costs

Interest on lease liabilities

8414

0

Unwinding of discount-restoration obligations

274

739

Total finance costs

8688

739

1.1.D Write-down and impairment of other assets

Write-down and impairment of property, plant, equipment and computer software

0

539

Losses from asset sales

425

117

Total write-down and impairment of other assets

425

656

1.2 OWN-SOURCE REVENUE AND GAINS

OWN SOURCE REVENUE AND GAINS

2020

2019

$'000

$'000

1.2 OWN SOURCE REVENUE AND GAINS

1.2.A Sale of services

18019

15147

Accounting policy

Revenue from the sale of services is recognised by reference to the stage of completion of contracts at reporting date. This is determined by the proportion that costs incurred to date bear to the estimated total costs of the transaction.

1.2.B Other revenue

Subleased right-of-use assets income

4305

6015

Resources received free of charge-remuneration of auditors

135

145

Resources received free of charge-equipment

473

0

Royalties

1

1

Other

1227

1139

Total other revenue

6141

7300

Sublease right-of-use assets income commitments

As lessor, subleased right-of-use assets income commitments are for office accommodation

Commitments are receivable

Within 1 year

3929

3797

Between 1 to 5 years

17210

16607

More than 5 years

11074

15606

Total subleased right-of-use assets income commitments

32213

36010

Accounting policy

Resources received free of charge are recognised as revenue when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense. Resources received free of charge are recorded as either revenue or gains depending on their nature.