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Leases | 12 Months Ended
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Jun. 30, 2018
Leases |
Leases |
21. | Leases
The Group as lessee Operating leases: In the ordinary course of business, the Group leases property or spaces for administrative or commercial use both in Argentina and Israel under operating lease arrangements. The agreements entered into include several clauses, including but not limited, to fixed, variable or adjustable payments. Some leases were agreed upon with related parties (Note 29). The future minimum payments that the Group must pay under operating leases are as follows:
| June 30, 2018 |  | June 30, 2017 |  | June 30, 2016
No later than one year | 2,173 |  | 2,901 |  | 3,860
Later than one year and not later than five years | 4,477 |  | 7,949 |  | 6,705
Later than five years | 655 |  | 1,869 |  | 2,127
| 7,305 |  | 12,719 |  | 12,692
Finance leases: The Group is party to several financial lease agreements, mainly of equipment for administrative use in the ordinary course of business. The amounts involved are not material to any of the fiscal years under review. The Group as lessor Operating leases: In the Shopping Malls segment and Offices segment of the Operations Center in Argentina and in the Real Estate segment of the Operations Center in Israel, the Group enters into operating lease agreements typical in the business. Given the diversity of properties and lessees, and the various economic and regulatory jurisdictions where the Group operates, the agreements may adopt different forms, such as fixed, variable, adjustable leases, etc. For example, in the Operations Center in Argentina, operating lease agreements with lessees of Shopping Malls generally include escalation clauses and contingent payments. In Israel, agreements tend to be agreed upon for fixed amounts, although in some cases they may include adjustment clauses. Income from leases are recorded in the Statement of Income under rental and service income in all of the filed periods. Rental properties are considered to be investment property. Book value is included in Note 9. The future minimum proceeds under non-cancellable operating leases from Group’s shopping malls, offices and other buildings are as follows:
| June 30, 2018 |  | June 30, 2017 |  | June 30, 2016
No later than one year | 4,813 |  | 4,437 |  | 3,137
Later than one year and not later than five years | 22,371 |  | 12,451 |  | 13,361
Later than five years | 8,290 |  | 4,632 |  | 4,247
| 35,474 |  | 21,520 |  | 20,745
Finance leases: The Group does not act as a lessor in connection with finance leases.

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Expiry date 2019-01-01 -Name IAS -Number 17 -IssueDate 2018-01-01 -Section Leases in the financial statements of lessees -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=17&date=2018-03-02&anchor=sect_Leasesinthefinancialstatementsoflessees&doctype=Standard&book=b -URIDate 2018-03-16 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Note Expiry date 2019-01-01 -Name IAS -Number 17 -IssueDate 2018-01-01 -Section Leases in the financial statements of lessors -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=17&date=2018-03-02&anchor=sect_Leasesinthefinancialstatementsoflessors&doctype=Standard&book=b -URIDate 2018-03-16 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2019-01-01 -Name IFRS -Number 16 -IssueDate 2018-01-01 -Section Presentation -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=16&date=2018-03-01&anchor=sect_Presentation&doctype=Standard -URIDate 2018-03-16 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2019-01-01 -Name IFRS -Number 16 -IssueDate 2018-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=16&date=2018-03-01&anchor=sect_Disclosure&doctype=Standard -URIDate 2018-03-16 + Details
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