Notes - 6.2 Key Management Personnel Remuneration
6.2 Key Management Personnel Remuneration
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the NCA, directly or indirectly, including any director (whether executive or otherwise) of the NCA. The NCA has determined the key management personnel to be the Authority Chair, independent Authority members, Chief Executive, Chief Planner, and Chief Operating Officer. Key management personnel remuneration is reported in the table below:
Short-term employee benefits
Other long-term employee benefits
Total key management personnel remuneration expenses1
The total number of key management personnel that are included in the above table are 8 (2019: 7).
The 2019 figures for key management personnel remuneration have been restated (from $1,045,000 total) to reflect adjustments for bonuses paid (short-term employee benefits restated from $899,000).
1.The above key management personnel remuneration excludes the remuneration and other benefits of the Portfolio Minister. The Portfolio Minister's remuneration and other benefits are set by the Remuneration Tribunal and are not paid by the NCA.
6.3 Related Party Disclosures
The NCA is an Australian Government controlled entity. Related parties to the NCA are key management personnel, including the Portfolio Minister, Authority and Executive and other Australian Government entities.
Transactions with related parties:
Key management personnel
Given the breadth of Government activities, related parties may transact with the government sector in the same capacity as ordinary citizens. Such transactions include the payment or refund of taxes, receipt of a Medicare rebate or higher education loans. These transactions have not been separately disclosed in this note.
Significant transactions with related parties can include:
- the payments of grants or loans;
- purchases of goods and services;
- asset purchases, sales transfers or leases;
- debts forgiven; and
At 30 June 2020, the NCA received declarations from its key management personnel in relation to related parties for the 2019-20 financial year. No transactions were identified that are required to be reported in this note.
Other Australian Government entities
The following significant transactions with other Government entities occurred during the financial year:
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