Welcome to Trustpower. The browser that you are currently using is not supported by this site. For best results please upgrade your browser.
Retrieving Data

Note 30: Deferred Income Tax

GROUP

PARENT

Note

2014

$000

2013

$000

2014

$000

2013

$000

Balance at beginning of year

292,123

300,215

221,057

223,940

Current year changes in temporary differences affecting tax expense

11

5,267

(2,366)

3,925

2,478

Current year changes in temporary differences affecting reserves

 

12,201

(4,772)

2,828

(5,367)

Reclassification of prior year temporary differences

11

482

(468)

329

6

Acquired as part of business combination

38

4,171

-

4,171

-

Exchange rate movements on foreign denominated deferred tax

 

(4,482)

(486)

-

-

Total deferred tax liabilities

309,762

292,123

232,310

221,057

Comprising:

Deferred tax liabilities to be recovered after more than 12 months

307,420

296,607

232,410

225,945

Deferred tax liabilities to be recovered within 12 months

2,342

(4,484)

(100)

(4,888)

309,762

292,123

232,310

221,057

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 2014 ($000)

Opening

Balance

Acquired with

Business

Combination

Charged to

Income

Statement

Charged

Directly to

Equity

Closing

Balance

Revaluations

226,689

-

-

(5,111)

221,578

Other property, plant and equipment movements

74,790

-

3,603

919

79,312

Employee benefits

(1,656)

-

(130)

2

(1,784)

Provision for impairment

(476)

-

28

-

(448)

Customer base assets

4,921

4,171

(1,118)

-

7,974

Financial instruments

(9,003)

-

3,364

4,284

(1,355)

Unrealised losses on Australian dollar loan

(3,336)

-

-

7,625

4,289

Other

194

-

2

-

196

 

292,123

4,171

5,749

7,719

309,762

GROUP

For the year ended 31 March 2013 ($000)

Opening

Balance

Acquired with

Business

Combination

Charged to

Income

Statement

Charged

Directly to

Equity

Closing

Balance

Revaluations

227,344

-

-

(655)

226,689

Other property, plant and equipment movements

73,948

-

771

71

74,790

Employee benefits

(1,422)

-

(234)

-

(1,656)

Provision for impairment

(504)

-

28

-

(476)

Customer base assets

5,779

-

(858)

-

4,921

Financial instruments

(2,100)

-

(1,239)

(5,664)

(9,003)

Unrealised losses on Australian dollar loan

(3,829)

-

-

493

(3,336)

Other

999

-

(805)

-

194

 

300,215

-

(2,337)

(5,755)

292,123

PARENT

For the year ended 31 March 2014 ($000)

Opening

Balance

Acquired with

Business

Combination

Charged to

Income

Statement

Charged

Directly to

Equity

Closing

Balance

Revaluations

171,028

-

-

18

171,046

Other property, plant and equipment movements

53,136

-

3,224

-

56,360

Employee benefits

(1,640)

-

(130)

-

(1,770)

Provision for impairment

(476)

-

28

-

(448)

Customer base assets

4,921

4,171

(1,118)

-

7,974

Financial instruments

(6,106)

-

2,248

2,810

(1,048)

Other

194

-

2

-

196

 

221,057

4,171

4,254

2,828

232,310

PARENT

For the year ended 31 March 2013 ($000)

Opening

Balance

Acquired with

Business

Combination

Charged to

Income

Statement

Charged

Directly to

Equity

Closing

Balance

Revaluations

171,046

-

-

(18)

171,028

Other property, plant and equipment movements

48,105

-

5,031

-

53,136

Employee benefits

(1,422)

-

(218)

-

(1,640)

Provision for impairment

(504)

-

28

-

(476)

Customer base assets

5,779

-

(858)

-

4,921

Financial instruments

(63)

-

(693)

(5,350)

(6,106)

Other

999

-

(805)

-

194

 

223,940

-

2,485

(5,368)

221,057