Note 29. Related Party Transactions
Related party relationships
Hearing Australia is an Australian Government controlled entity. Related parties to this entity are KMP as detailed in note 25 and other Australian Government entities. This note provides additional related party disclosures where such disclosures are not made in other notes in this report.
Transactions with related parties
The following transactions occurred with related parties:
|
2019 |
2018 |
|
|---|---|---|
|
$ |
$ |
|
|
Sale of goods and services: |
||
|
Sale of goods to related parties |
86,850,704 |
89,381,779 |
|
Rendering of services to related parties |
103,284,073 |
101,868,668 |
|
Other income: |
||
|
Grant income from related parties |
4,789,192 |
4,518,993 |
|
Payment for other expenses: |
||
|
Other expenses paid to related parties |
1,436,790 |
1,703,694 |
Receivable from and payable to related parties
The following balances are outstanding at the reporting date in relation to transactions with related parties:
|
2019 |
2018 |
|
|---|---|---|
|
$ |
$ |
|
|
Current receivables: |
||
|
Trade and other receivables from related parties |
2,815,415 |
2,643,422 |
|
Current payables: |
||
|
Trade and other liabilities to related parties |
25,011,245 |
15,473,922 |
Terms and conditions
All transactions were made on normal commercial terms and conditions and at market rates.
Visit
https://www.transparency.gov.au/annual-reports/hearing-australia/reporting-year/2018-2019-78