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The fair value of cash and cash equivalents is $4,927,000 (2016: $5,261,000).

Tourism New Zealand holds a standby 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 guarantee 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

2017

$000s

2016

$000s

2017

$000s

2016

$000s

Receivables

105

165

105

165

Less: Provision for impairment

-

-

-

-

105

165

105

165

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 2017 and 2016, all overdue receivables have been assessed for impairment and

appropriate provisions applied, as detailed below:

Parent

2017

2016

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Parent

Not past due

89

-

89

45

-

45

Past due 1 – 30 days

-

-

-

23

-

23

Past due 31 – 60 days

-

-

-

97

-

97

Past due 61 – 90 days

5

-

5

-

-

-

Past due > 91 days

11

-

11

-

-

-

105

-

105

165

-

165

Group

2017

2016

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Group

Not past due

89

-

89

45

-

45

Past due 1 – 30 days

-

-

-

23

-

23

Past due 31 – 60 days

-

-

-

97

-

97

Past due 61 – 90 days

5

-

5

-

-

-

Past due > 91 days

11

-

11

-

-

-

105

-

105

165

-

165

Note 8 continued

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