The accounting policies of the parent entity, which have been applied in determining the financial information shown below, are the same as those applied in the consolidated financial statements except as set out below. Refer to note 1 for a summary of the significant accounting policies relating to the Group.

Investments in subsidiaries

Investments in subsidiaries are accounted for at cost.

Commitments for the acquisition of land, buildings, leasehold improvements and property, plant and equipment by the parent entity

The contractual commitments for the purchase of the land, buildings, leasehold improvements and property, plant and equipment of the parent entity is $ 288,000 in 2019 (2018: Nil), amounts are inclusive of GST.

The operating lease commitments of the parent entity is $ 1,748,000 in 2019 (2018: $ 1,621,000), amounts are inclusive of GST.