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Retrieving Data

Note 28

For the Year Ended 31 March 2011

DEFERRED INCOME TAX
GROUP PARENT
2011 2010 2011 2010
Note $000 $000 $000 $000
Balance at beginning of year 266,523 251,137 188,719 177,741
Current year changes in temporary differences affecting tax expense 11 2,503 10,946 2,192 4,560
Current year changes in temporary differences affecting reserves (12,724) 1,903 (10,032) 5,624
Reclassification of prior year temporary differences 11 4,164 1,087 1,698 794
Exchange rate movements on foreign denominated deferred tax 1,367 1,450 - -
Effect of announced change in corporate tax rate on:
Income tax expense (5,098) - (2,799) -
Revaluation reserve (11,251) - (9,600) -
Cash flow hedge reserve 223 - 223 -
Foreign currency translation reserve 530 - - -
Effect of removal of tax depreciation on buildings on income tax expense 11,079 - 9,691 -
257,316 266,523 180,092 188,719
Comprising:
Deferred tax liabilities 257,316 266,523 180,092 188,719
257,316 266,523 180,092 188,719

There have been changes to the income tax legislation that have had a material impact on the financial statements, refer to note 11 for details.

The tables below show the break down of the temporary differences that make up the deferred tax liabilities and their movement for the year.

GROUP Opening Balance Charged to Income Statement

Charged Directly to Equity

Closing Balance
For the year ended 31 March 2011 ($000)
Revaluations 196,323 - (11,313) 185,010
Other property, plant and equipment movements 61,565 14,126 - 75,691
Employee benefits (1,283) (46) - (1,329)
Provision for impairment (600) 96 - (504)
Carbon revenue recognition 2,853 439 - 3,292
Customer base assets 8,477 (1,631) - 6,846
Financial instruments 4,508 1,025 (9,747) (4,214)
Unrealised losses on Australian dollar loan (5,251) - (2,162) (7,413)
Other (69) 6 - (63)
266,523 14,015 (23,222) 257,316
Opening Balance Charged to
Income
Statement
Charged Directly to Equity Closing Balance
For the year ended 31 March 2010 ($000)
Revaluations 196,459 - (136) 196,323
Other property, plant and equipment movements 54,496 7,069 - 61,565
Employee benefits (1,278) (5) - (1,283)
Provision for impairment (480) (120) - (600)
Carbon revenue recognition 636 2,217 - 2,853
Customer base assets 9,620 (1,143) - 8,477
Financial instruments (6,409) 3,736 7,181 4,508
Unrealised losses on Australian dollar loan (1,838) - (3,413) (5,251)
Other (69) - - (69)
251,137 11,754 3,632 266,523
PARENT Opening Balance Charged to Income Statement Charged Directly to Equity Closing Balance
For the year ended 31 March 2011 ($000)
Revaluations 144,151 - (9,662) 134,489
Other property, plant and equipment movements 30,207 11,008 - 41,215
Employee benefits (1,283) (46) - (1,329)
Provision for impairment (600) 96 - (504)
Carbon revenue recognition 2,853 439 - 3,292
Customer base assets 8,477 (1,631) - 6,846
Financial instruments 4,983 910 (9,747) (3,854)
Other (69) 6 - (63)
188,719 10,782 (19,409) 180,092
Opening Balance Charged to
Income
Statement
Charged Directly to Equity Closing Balance
For the year ended 31 March 2010 ($000)
Revaluations 145,708 - (1,557) 144,151
Other property, plant and equipment movements 26,847 3,360 - 30,207
Employee benefits (1,278) (5) - (1,283)
Provision for impairment (480) (120) - (600)
Carbon revenue recognition 636 2,217 - 2,853
Customer base assets 9,620 (1,143) - 8,477
Financial instruments (3,243) 1,044 7,182 4,983
Other (69) - - (69)
177,741 5,353 5,625 188,719