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RACING AUSTRALIA ANNUAL REPORT 2016
NOTES TO AND FORMING PART OF
THE FINANCIAL STATEMENTS
For the year ended 30 June 2016
Racing Australia Limited
| ACN 105 994 330 and Controlled Entities | Annual Report for the Financial Year Ended 30 June 2016
Consolidated entity
Parent entity
2016
$
2015
$
2016
$
2015
$
NOTE 8: PAYABLES
Current
Trade payables
625,867
1,200,170
418,879
698,790
Other payables
1,982,319
1,648,343
1,966,644
1,626,743
2,608,186 2,848,513 2,385,523 2,325,533
NOTE 9: EMPLOYEE BENEFITS
Current
Employee benefits
853,294
813,059
853,294
813,059
Non-current
Employee benefits
10,391
14,495
10,391
14,495
NOTE 10: LOAN CBA
Current
Loan CBA
2,500,000 2,125,000 2,500,000 2,125,000
Non-current
Loan CBA
7,767,512 11,271,267
7,767,512 11,271,267
On 17 September 2014, Racing Australia Limited (RA), purchased the Australian Stud Book (ABN 64 358 205
057) (ASB) and all of the shares in capital of Australian Genetics Testing Pty Ltd (ABN 83 138 140 762) (AGT) for a
purchase consideration of $18,000,000. The purchase was completed based on a bank loan to a maximum value
of $16,000,000. As a bank condition to secure the loan, a bank guarantee equivalent to 88% of the loan balance
was required, guaranteed by Racing NSW (35%), Racing Victoria (35%) and Racing Queensland (18%).