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Note 26

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:

2016

$000s

2015

$000s

2016

$000s

2015

$000s

Non-Cancellable Accommodation Leases:

Up to One Year

1,598

1,307

1,598

1,307

One to Two Years

2,341

1,060

2,341

1,060

Two to Five Years

1,156

1,632

1,156

1,632

Over Five Years

-

-

-

-

5,095

3,999

5,095

3,999

Non-Cancellable Motor Vehicle and Equipment Leases

Up to One Year

133

94

127

88

One to Two Years

87

77

86

76

Two to Five Years

128

49

128

49

Over Five Years

-

-

-

-

348

220

341

213

Non-Cancellable Contracts for Goods and Services

Up to One Year

2,750

774

2,750

774

One to Two Years

1,900

7

1,900

7

Two to Five Years

1,741

-

1,741

-

Over Five Years

-

-

-

-

6,391

781

6,391

781

Total operating commitments

11,834

5,000

11,827

4,993

Note 27

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 as well.

Tourism New Zealand also enters into transactions with board members and entities over which they have control or significant

influence. 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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