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The fair value of cash and cash equivalents is $5,261,000 (2015: $6,365,000).

Tourism New Zealand holds a stand-by Letter of Credit with HSBC bank for an amount of $360,000 to serve as security against any

non-payment of payroll. This letter of credit has no expiry date. The bank also provides a financial guarentee to Datacom Business

Services, Tourism New Zealand’s payroll processor for Australian payroll an amount of AUD 42,000. Further, a financial guarantee

for an amount of AUD 77,512 is also provided by HSBC bank for Sydney office rent until 26 May 2019. A cheque encashment facility for

$1000 also exists with the bank.

Qualmark holds a stand-by Letter of Credit with the bank for an amount of $26,000 to serve as security against any non-payment of

payroll. This letter of credit has no expiry date.

Note 9

Receivables

Group

Parent

Receivables from non-exchange transactions

2016

$000s

2015

$000s

2016

$000s

2015

$000s

Receivables

165

62

165

62

Less: Provision for impairment

-

-

-

-

165

62

165

62

Receivables from non-exchange transactions are non-interest bearing and are generally on 30-day terms. The carrying value of

receivables approximates their fair value. As at 30 June 2016 and 2015, all overdue receivables have been assessed for impairment and

appropriate provisions applied, as detailed below:

Parent

2016

2015

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Parent

Not past due

45

-

45

57

-

57

Past due 1 – 30 days

23

-

23

-

-

-

Past due 31 – 60 days

97

-

97

-

-

-

Past due 61 – 90 days

-

-

-

-

-

-

Past due > 91 days

-

-

-

5

-

5

165

-

165

62

-

62

Group

2016

2015

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Group

Not past due

45

-

45

57

-

57

Past due 1 – 30 days

23

-

23

-

-

-

Past due 31 – 60 days

97

-

97

-

-

-

Past due 61 – 90 days

-

-

-

-

-

-

Past due > 91 days

-

-

-

5

-

5

165

-

165

62

-

62

Note 8 continued

62