Schedule of Commitments

as at 30 June

  2008
$’000 		  2007
$’000
BY TYPE
Commitments receivable      
GST recoverable on commitments (9,842)   (12,541)
Rental income (195)   (62)
Other (140)   (24)
Total commitments receivable (10,177)   (12,627)
       
Capital commitments      
Leasehold improvements 218    3,164
Total capital commitments 218    3,164
       
Other commitments      
Operating leases 90,862    106,675
Other commitments 17,750    28,110
Total other commitments 108,612    134,785
       
Net commitments by type 98,653    125,322
       
BY MATURITY
Commitments receivable      
One year or less (1,746)   (2,905)
From one to five years (3,169)   (3,533)
Over five years (5,262)   (6,189)
Total commitments receivable (10,177)   (12,627)
       
Capital commitments      
One year or less 218    3,164
From one to five years -    -
Over five years -    -
Total capital commitments 218    3,164
       
Operating lease commitments      
One year or less 6,613    9,220
From one to five years 26,374    29,377
Over five years 57,875    68,078
Total operating lease commitments 90,862    106,675
       
Other commitments      
One year or less 10,564    18,627
From one to five years 7,186    9,483
Over five years -    -
Total other commitments 17,750    28,110
Net commitments by maturity 98,653    125,322

General description of leasing arrangements

Leases for office accommodation

Office accommodation lease payments are subject to periodic increases in accordance with the rent review provisions of the lease.  The lease for One National Circuit commenced in 2006–07 for a period of 15 years.

Agreements for the provision of motor vehicles to senior executive officers

No contingent rentals exist.  There are no renewal or purchase options available to the department for motor vehicle leases.

Contingent liabilities and assets

The department is not aware of any contingent liabilities or assets as at signing date that would require disclosure in the Financial Statements. There were no contingent liabilities or assets reported in 2006–07.

 

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Last Updated: 6 November, 2008