Racing Australia Annual Report 2019

42 | RACING AUSTRALIA ANNUAL REPORT 2019 Consolidated Entity Parent Entity Note 2019 $ 2018 $ 2019 $ 2018 $ Revenue Rendering of services 2(a) 15,088,451 14,741,892 15,061,840 14,707,239 Interest 2(b) 20,130 34,276 19,842 32,582 Other 2(b) 657,927 479,039 657,927 475,494 15,766,508 15,255,207 15,739,609 15,215,315 Expenses Employee benefits expense 6,439,676 5,939,594 6,347,526 5,849,284 Occupancy costs 2(c) 359,205 323,738 359,205 323,738 Legal & consulting 109,855 305,200 108,271 302,383 Audit fees 44,000 45,700 34,500 36,200 Depreciation & amortisation 2(c) 1,523,473 1,169,822 1,523,398 1,169,586 Research grant 221,724 224,958 221,724 224,958 Administration 1,560,052 1,436,191 1,545,006 1,415,041 Finance costs 2(c) 196,909 297,039 193,939 294,530 Bad & doubtful debts - - - - Equine testing fees 1,022,251 1,152,949 1,022,251 1,152,949 11,477,145 10,895,191 11,355,820 10,768,669 Surplus before income tax expense 4,289,363 4,360,016 4,383,789 4,446,646 Income tax 1(b) - - - - Surplus after income tax expense for the year 4,289,363 4,360,016 4,383,789 4,446,646 Other comprehensive income for the year, net of tax - - - - Total comprehensive income for the year 4,289,363 4,360,016 4,383,789 4,446,646 The accompanying notes form part of these financial statements. STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2019