Indigenous Land Corporation gpo box 652 Adelaide sa 5001

21. Senior Executive remuneration

21A. Senior Executive remuneration expense for the reporting period

For the purposes of this note, the Corporation has defined senior executives as those employees who report directly to the CEO or Managing Director.  These employees are the only employees considered to have the capacity and responsibility for decision making that can have a significant and direct impact on the strategic direction and financial performance of the group. Employees classified as senior executives and are disclosed in notes 21A and 21B.

	Consol 2014 $	Consol 2013 $	ILC 2014 $	ILC 2013 $
Short-term employee benefits
Salary (including leave taken)	3,308,565	3,383,002	1,648,933	1,588,707
Performance bonus	260,997	177,446	–	37,451
Motor vehicle and other allowances	355,233	309,236	234,903	205,403
Total short-term employee benefits	3,924,795	3,869,684	1,883,836	1,831,561
Post employment benefits
Superannuation	402,316	346,990	263,877	221,278
Total post employment benefits	402,316	346,990	263,877	221,278
Other long-term benefits
Annual leave accrued	102,104	41,082	97,775	(3,403)
Long service leave	107,401	(4,139)	84,372	(10,502)
Total other long-term benefits	209,505	36,943	182,147	(13,905)
Termination benefits
Termination	9,024	259,557	–	259,557
Total termination benefits	9,024	259,557	–	259,557
Total	4,545,640	4,513,174	2,329,860	2,298,491

During the year, the Corporation paid $9,024 in separation and redundancy benefits to senior executives (2013: $259,557)

Note 21A is prepared on an accrual basis therefore the performance bonus expenses disclosed above may differ from the cash “Bonus paid” in note 21B.

Senior Executive remuneration expense for the reporting period excludes acting arrangements and part year service where remuneration expenses was less than $195,000.

21B. Average annual reportable remuneration paid to substantive Senior Executives during the reporting period

This table reports substantive senior executives who received remuneration during the reporting period. Each row is an averaged figure based on the headcount for individuals in the band.

Reportable salary includes the following:

• Gross payments (less any bonuses paid, which are disclosed in the bonus paid column)

• Reportable fringe benefits (at the net amount prior to “grossing up” for tax purposes

• Reportable employer superannuation contributions

• Exempt foreign employment income

The contributed superannuation amount is the average cost to the Corporation for the provision of superannuation benefits in that reportable remuneration band during the reporting period.

Reportable allowances are the average actual allowance paid as per total allowances on an individuals payment summaries.

Bonus paid represents average actual bonuses paid during the reporting period in that reportable remuneration band.

CONSOLIDATED__2014'>CONSOLIDATED	2014
Average annual reportable remuneration	Senior Executives No.	Reportable Salary $	Contributed Superannuation $	Reportable Allowances $	Bonus paid $	Total $
Total remuneration (including part time arrangements)
$195,000 to $224,999	2	172,276	26,698	–	–	198,974
$225,000 to $254,999	4	205,539	23,162	–	5,524	234,225
$255,000 to $284,999	4	228,637	38,237	–	–	266,874
$285,000 to $314,999	2	286,822	16,523	–	–	303,345
$315,000 to $344,999	1	284,328	21,402	–	39,217	344,947
$375,000 to $404,999	1	324,599	21,300	–	38,108	384,007
$435,000 to $464,999	1	371,524	23,748	–	64,574	459,846
Total	15

CONSOLIDATED	2013
Average annual reportable remuneration	Senior Executives No.	Reportable Salary $	Contributed Superannuation $	Reportable Allowances $	Bonus paid $	Total $
Total remuneration (including part time arrangements)
$195,000 to $224,999	4	184,113	23,117	–	–	207,230
$225,000 to $254,999	2	208,106	28,694	–	–	236,800
$255,000 to $284,999	3	232,387	36,470	–	–	268,857
$285,000 to $314,999	2	245,259	11,468	–	35,926	292,653
$315,000 to $344,999	1	284,625	19,919	–	38,322	342,866
$465,000 to $494,999	1	461,150	16,470	–	–	477,620
Total	13

21B. Average annual reportable remuneration paid to substantive Senior Executives during the reporting period (cont.)

ILC	2014
Average annual reportable remuneration	Senior Executives No.	Reportable Salary $	Contributed Superannuation $	Reportable Allowances $	Bonus paid $	Total $
Total remuneration (including part time arrangements)
$195,000 to $224,999	2	172,276	26,698	–	–	198,974
$225,000 to $254,999	2	204,774	31,364	–	–	236,138
$255,000 to $284,999	3	222,795	40,283	–	–	263,078
$285,000 to $314,999	1	286,507	22,108	–	–	308,615
Total	8