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Note 4. Statement of profit and loss

4.1 Finance income

Notes

2020

2019

$'000

$'000

Finance lease income

13

9,095

0

Interest

932

1,065

10,027

1,065

During the year, the IMEX terminal became operational with the commencement of trains accessing the rail link. On 1 July 2019, assets under construction were derecognised and a finance lease recognised at fair value. Details of the valuation of the rail access asset are disclosed in note 13 to the consolidated financial statements. Finance lease income of $9.1 million represents the income earned for the period 1 June 2019 to 30 June 2020 from the 97-year finance lease

4.2 Employee benefits

2020

2019

$'000

$'000

Wages and salaries

4,564

3,041

Superannuation

304

216

Total employee benefits expense

4,868

3,257

4.3 Adviser costs

2020

2019

$'000

$'000

Technical consultant fees

172

85

Legal fees

5,948

2,232

Other

395

367

Total adviser costs

6,515

2,684

4.4 Land and site costs

2020

2019

$'000

$'000

Land and site costs

38,800

105,135

‘Land and site costs’ recognises the Trust’s estimated contractual obligation to prepare the land for development. Cost estimates have been based on advice provided by qualified specialist consultants using preliminary designs which are not yet approved for construction.

There is a significant level of uncertainty about the final quantum of these costs, along with the timing of the economic outflow.