RussellEbertHandball
Flick pass expert
So what activities does this set up entail that makes Richmond pay income tax on profits, when it's a 100% owned subsidiary according to the Aligned Leisure website, yet other clubs have business operations that make profits, including pokies venues and they don't pay tax on these profits, yet non members attend these venues??the Aligned Leisure stuff is pretty easy to tag. Other than Aligned Leisure, the Community and Stuff section is the KGI, our indigenous school, and the Swinburne Institute. KGI and the school are not revenue earning (so pure costs). Swinburne is, BUT its very new.
If you look at the annual reports over recent years, you can see the progression of how AL has impacted upon revenue, costs, and profits:
2015
Revenue: $53,921
Expenses: $933,794
Profit: -$879,873
2016 **started AL with Cardinia contract**
Revenue: $2,473,589
Expenses: $2,917,060
Profit: -$443,471
2017 **added eltham**
Revenue: $8,639,721
Expenses: $9,622,630
Profit: -$982,909
2018 **added Wodonga**
Revenue: $14,237,718
Expenses: $14,160,181
Profit: $77,537
2019
Revenue: $24,847,040
Expenses: $24,208,745
Profit: $638,295
2020
Revenue: $17,849,104
Expenses: $24,322,020
Profit: -$6,472,916
From Note 3
Income tax expense for the prior year comprises of $13,016 relating to the operations of Aligned Leisure and has been recognised in 2020. There is no provision for income tax in 2020.