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Note 6: Key management personnel remuneration and related parties

Note 6A: Key management personnel remuneration

Key management personnel (KMP) are those persons having authority and responsibility for planning, directing and controlling (directly or indirectly) the activities of the CGC.

The CGC has determined the KMP to be the Secretary of the CGC. Remuneration of KMP is reported in the table below.

2021

2020

$’000

$’000

KMP remuneration

Short-term employee benefits

335

428

Post-employment benefits

67

70

Other long-term employee benefits

28

13

Total KMP remuneration expenses1

430

511

1 The total KMP remuneration expenses included in the above table relate to two employees (2020: one). This number includes one individual who became a KMP through the financial year, as well as one individual who ceased.

Note 6B: Related party transactions

Related party relationships
The CGC is an Australian Government-controlled entity. Related parties to the CGC are:

  • key management personnel
  • the Executive Committee
  • the Treasurer
  • all other Australian Government entities.

Transactions with related parties

Given the breadth of Government activities, related parties may transact with the government sector in the same capacity as ordinary citizens. The CGC transacts with other Australian Government-controlled entities consistent with normal day-to-day business operations provided under normal terms and conditions, including the payment of workers compensation, insurance premiums, data purchases, advertising and internet services. These are not considered individually significant to warrant separate disclosure as related party transactions.

Giving consideration to relationships with related entities, and the materiality of transactions entered into during the reporting period by the CGC, it has been determined that there are no related party transactions to be separately disclosed.