Urbanise.com Annual Report 2019

Annual Report 2019 Urbanise.com Limited 24. Fair value measurements This note provides information about how the Group determines fair values of various financial assets and financial liabilities. Fair value hierarchy Asset and liabilities measured and recognised at fair value have been determined by the following fair value measurement hierarchy: –– Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date; –– Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and –– Level 3 inputs are unobservable inputs for the asset or liability. At 30 June 2019 and 30 June 2018, the Group did not have any assets or liabilities held at fair value. Transfers between level 1 and level 2 There were no transfers between level 1 and level 2 of the fair value hierarchy during the year. Valuation techniques and inputs used in level 3 fair value measurements There were no financial assets or liabilities measured at fair value at 30 June 2019. 25. Key management personnel compensation Key management is defined as Directors and other key management personnel. The aggregate compensation made to key management personnel of the Group is set out below: 2019 $ 2018 $ Short-term employee benefits 1,479,196 1,758,467 Long-term employee benefits 59,729 15,592 Termination payments 114,157 228,558 Post-employment benefits - superannuation 74,324 82,766 Share-based payments 323,297 40,042 Total key management personnel compensation 2,050,703 2,125,425 26. Related party transactions Transactions with key management personnel (i) Key management personnel compensation Details of key management personnel compensation is disclosed in Note 25. (ii) Loans to key management personnel There were no loans to key management personnel during the financial year.(FY18 nil) (iii) Other transactions with key management personnel of the Group There were no other transactions with key management personnel of the Group during the financial year or in the prior year. Transactions between Urbanise.com Limited and its related parties (i) Related parties Balances and transactions between the Company and its subsidiaries, which are related parties of the Group, have been eliminated on consolidation and are not disclosed in this note. Notes to the Consolidated Financial Statements for the year ended 30 June 2019 (continued) 74