113 113 AUSTRALIAN SPORTS COMMISSION NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS For the year ended 30 June 2017 it is probable that the economic benefits comprising the contribution will flow to the entity; and the amount of the contribution can be reliably measured. Revenue is recognised irrespective of whether restrictions or conditions are imposed on the use of the contribution. 1.5 Gains Sale of assets Gains from disposal of non-current assets are recognised when control of the asset has passed to the buyer. 1.6 Transactions with the Government as owner Equity injections Amounts which are designated as ‘equity injections’ for a year are recognised directly in contributed equity in that year. Other distributions to owners Other distributions to owners are debited to contributed equity unless in the nature of a dividend. 1.7 Employee benefits Liabilities for short-term employee benefits (as defined in AASB 119 Employee Benefits) and termination benefits expected within twelve months of the end of the reporting period are measured at their nominal amounts. The nominal amount is calculated with regard to the rates expected to be paid on settlement of the liability. Leave The liability for employee benefits includes provision for annual leave and long service leave. No provision has been made for sick leave as all sick leave is non-vesting and the average sick leave taken in future years by employees of the Commission is estimated to be less than the annual entitlement for sick leave. The leave liabilities are calculated on the basis of employees’ remuneration at the estimated salary rates that will be applied at the time the leave is taken, including the Commission’s employer superannuation contribution rates to the extent that the leave is likely to be taken during service rather than paid out on termination. The liability for long service leave and annual leave has been determined by reference to the work of an actuary as at 30 June 2015 (and reconfirmed as at 30 June 2017). The estimate of the present value of the liability takes into account attrition rates and pay increases through promotion and inflation. Separation and redundancy A liability is recognised for separation and redundancy benefit payments. The entity recognises a liability for termination when it has developed a detailed formal plan for the terminations or when an offer is made to an employee and is accepted.