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Note 27

Operating commitments

Operating commitments include non-cancellable lease payments for premises, motor vehicles and office equipment and non-

cancellable contracts for services like equipment maintenance and public relations.

Group

Parent

Operating commitments payable after balance date on:

2015

$000s

2014

$000s

2015

$000s

2014

$000s

Non-Cancellable Accommodation Leases:

Up to One Year

1,307

1,604

1,307

1,604

One to Two Years

1,060

1,261

1,060

1,261

Two to Five Years

1,632

2,004

1,632

2,004

Over Five Years

-

319

-

319

3,999

5,188

3,999

5,188

Non-Cancellable Motor Vehicle and Equipment Leases

Up to One Year

94

92

88

91

One to Two Years

77

64

76

64

Two to Five Years

49

96

49

96

Over Five Years

-

-

-

-

220

252

213

251

Non-Cancellable Contracts for Goods and Services

Up to One Year

774

923

774

923

One to Two Years

7

-

7

-

Two to Five Years

-

-

-

-

Over Five Years

-

-

-

-

781

923

781

923

Total operating commitments

5,000

6,363

4,993

6,362

Note 28

Related party transactions

Tourism New Zealand is a wholly owned entity of the Crown which has the ability to significantly influence its role. The Crown is Tourism

New Zealand’s major source of revenue.

Tourism New Zealand enters into transactions with Government departments, state-owned enterprises and other Crown entities.

Those transactions that occur within a normal supplier or client relationship on terms and conditions no more or less favourable than

those which it is reasonable to expect Tourism New Zealand would have adopted if dealing with that entity at arm’s length in the same

circumstances have not been disclosed as related party transactions.

Tourism New Zealand also enters into transactions with its subsidiaries and associate. These transactions occur within a normal

supplier or client relationship on terms and conditions no more or less favourable than those which it is reasonable to expect

Tourism New Zealand would have adopted if dealing with that entity at arm’s length. The following table provides the total amount of

transactions that were entered into with these related parties.

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