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Note 6: Payables

2020

2019

$

$

Note 6A: Suppliers

Trade creditors and accruals

1,405,678

607,966

Total suppliers

1,405,678

607,966

Supplier payables are settled within 20 days.

Note 6B: Other Payables

Salaries and wages

109,455

49,195

Superannuation

18,230

8,679

Other¹

121,193

-

Total other payables

248,878

57,874

1. Other payables include revenue received in advance ($121k) arising from the MOU that the Office has in place with PM&C in respect of Kirribilli House grounds maintenance.

Total other payables are expected to be settled in no more than 12 months.

Financial liabilities arising from suppliers and other payables amounted to $1,526,871 (2019: $607,966). Refer to Note 10.

Note 6C: Leases

Lease liabilities¹

3,557

-

Total leases

3,557

-

1. The Office has applied AASB 16 using the modified retrospective approach and therefore the comparative information has not been restated and continues to be reported under AASB 117.