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Note 12: Aministered - Fair Value Measurements

Note 12: Fair Value Measurements

Fair value measurement

at the end of the reporting period

2020

2019

$

$

Non-financial assets

Land

102,000,000

102,000,000

Buildings

47,945,431

46,608,628

Other property, plant and equipment

1,568,922

1,615,089

Total non-financial assets

151,514,353

150,223,717

Total fair value measurements of assets in the statement of financial position

151,514,353

150,223,717

In accordance with AASB 13 the fair value of land and buildings and property, plant and equipment has been taken to be the market price of similar properties and assets as determined by an independent valuer. In some instances, the Office's buildings are purpose built and may in fact realise more or less in the market.