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1090-P1

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Note 28

For The Year Ended 31 March 2012

DEFERRED INCOME TAX

GROUP PARENT
2012 2011 2012 2011
  Note $000 $000 $000 $000
Balance at beginning of year 257,316 266,523 180,092 188,719
Current year changes in temporary differences affecting tax expense 11 (4,714) 2,503 144 2,192
Current year changes in temporary differences affecting reserves 52,050 (12,724) 39,151 (10,032)
Reclassification of prior year temporary differences 11 (262) 4,164 (1,111) 1,698
Exchange rate movements on foreign denominated deferred tax (2,144) 1,367 - -
Effect of amalgamation of subsidiaries - - 7,846 -
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 (2,031) 11,079 (2,182) 9,691
300,215 257,316 223,940 180,092
Comprising:
Deferred tax liabilities 300,215 257,316 223,940 180,092
  300,215 257,316 223,940 180,092
   
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
For the year ended 31 March 2012 ($000)   Opening Balance Charged
to Income Statement 		Charged Directly
to Equity 		Closing Balance
         
Revaluations 185,010 - 42,334 227,344
Other property, plant and equipment movements 75,691 (648) (1,095) 73,948
Employee benefits (1,329) (93) - (1,422)
Provision for impairment (504) - - (504)
Carbon revenue recognition 3,292 (2,230) - 1,062
Customer base assets 6,846 (1,067) - 5,779
Financial instruments (4,214) (2,969) 5,083 (2,100)
Unrealised losses on Australian dollar loan (7,413) - 3,584 (3,829)
Other (63) - - (63)
257,316 (7,007) 49,906 300,215
   
GROUP
For the year ended 31 March 2011 ($000)   Opening Balance Charged
to Income Statement 		Charged Directly
to Equity 		Closing Balance
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
   
PARENT
For the year ended 31 March 2012 ($000)   Opening Balance Charged
to Income Statement 		Charged Directly
to Equity 		Closing Balance
Revaluations 134,489 - 36,557 171,046
Other property, plant and equipment movements 41,215 1,533 5,357 48,105
Employee benefits (1,329) (93) - (1,422)
Provision for impairment (504) - - (504)
Carbon revenue recognition 3,292 (2,230) - 1,062
Customer base assets 6,846 (1,067) - 5,779
Financial instruments (3,854) (1,292) 5,083 (63)
Other (63) - - (63)
180,092 (3,149) 46,997 223,940
PARENT
For the year ended 31 March 2011 ($000)   Opening Balance Charged
to Income Statement 		Charged Directly
to Equity 		Closing Balance
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
   
 

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0800 87 87 87

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