Downloads
| Schedule of Commitments as at 30 June 2014 |
||
|---|---|---|
| 2014 | 2013 | |
| BY TYPE | $'000 | $'000 |
| Commitments receivable | ||
| Sublease rental income | (10,411) | (5,299) |
| Net GST recoverable on commitments | (6,580) | (7,961) |
| Total commitments receivable | (16,991) | (13,260) |
| Commitments payable | ||
| Operating leases | 72,179 | 88,437 |
| Other | 1,962 | 4,399 |
| Total commitments payable | 74,141 | 92,836 |
| Net commitments by type | 57,150 | 79,576 |
| BY MATURITY | ||
| Commitments receivable | ||
| Operating lease income | ||
| Within 1 year | (1,706) | (1,184) |
| Between 1 to 5 years | (6,025) | (4,115) |
| More than 5 years | (2,680) | - |
| Total operating lease income | (10,411) | (5,299) |
| Other commitments receivable | ||
| Within 1 year | (1,478) | (1,684) |
| Between 1 to 5 years | (3,701) | (4,396) |
| More than 5 years | (1,401) | (1,881) |
| Total other commitments receivable | (6,580) | (7,961) |
| Total commitments receivable | (16,991) | (13,260) |
| Commitments payable | ||
| Operating lease commitments | ||
| Within 1 year | 14,945 | 15,534 |
| Between 1 to 5 years | 41,888 | 52,246 |
| More than 5 years | 15,346 | 20,657 |
| Total operating lease commitments | 72,179 | 88,437 |
| Other commitments payable | ||
| Within 1 year | 1,684 | 4,173 |
| Between 1 to 5 years | 278 | 226 |
| Total other commitments payable | 1,962 | 4,399 |
| Total commitments payable | 74,141 | 92,836 |
| Net commitments by maturity | 57,150 | 79,576 |
Note: Commitments were GST inclusive where relevant.
|
Nature of lease |
General description of leasing arrangement |
|
Leases for office accommodation |
Lease payments are subject to either increase in accordance with fixed amounts in the lease agreement or market rental reviews. Fair Work Commission may exercise option clauses in accordance with the terms of the leases. |
|
Sub-lease of office accommodation |
Fair Work Commission has agreed to sub-let part of the Melbourne premises (11 Exhibition Street) to Calliden Group Ltd until the 31st of October 2017. Fair Work Commission has agreed to sub-let part of the Sydney premises (80 William Street) to the Federal Circuit Court for the remainder of the term of our Sydney Leasehold. |
|
Agreements for the provision of motor vehicles to senior executive officers and members of Fair Work Commission |
Leases are part of an operating lease and there are no purchase options available to Fair Work Commission. |
The above schedule should be read in conjunction with the accompanying notes.