Racing Australia Annual Report 2018

56 | RACING AUSTRALIA ANNUAL REPORT 2018 Consolidated Entity Parent Entity Note 2018 $ 2017 $ 2018 $ 2017 $ Revenue Rendering of services 2(a) 14,741,892 13,821,931 14,707,239 13,752,560 Interest 2(b) 34,276 47,540 32,582 46,132 Other 2(b) 479,039 80,466 475,494 253,086 15,255,207 13,949,937 15,215,315 14,051,778 Expenses Employee benefits expense 5,939,594 5,157,694 5,849,284 5,106,861 Occupancy costs 2(c) 323,738 284,038 323,738 284,038 Legal & consulting 305,200 288,643 302,383 285,931 Audit fees 45,700 42,000 36,200 33,000 Depreciation & amortisation 2(c) 1,169,822 1,049,545 1,169,586 1,049,309 Research grant 224,958 228,442 224,958 228,442 Administration 1,436,191 1,488,307 1,415,041 1,466,802 Finance costs 2(c) 297,039 521,596 294,530 519,473 Bad & doubtful debts - - - 77,365 Equine Testing Fees 1,152,949 1,115,024 1,152,949 1,115,024 10,895,191 10,175,289 10,768,669 10,166,245 Surplus before income tax expense 4,360,016 3,774,648 4,446,646 3,885,533 Income tax 1(b) - - - - Surplus after income tax expense for the year 4,360,016 3,774,648 4,446,646 3,885,533 Other comprehensive income for the year, net of tax - - - - Total comprehensive income for the year 4,360,016 3,774,648 4,446,646 3,885,533 The accompanying notes form part of these financial statements. STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2018