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A n n u a l R e p o r t
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notes to the financial Statements
for the year ended 31 March 2012
In May 2010, the government announced a reduction to the corporate tax rate from 30% to 28%, effective
April 2011. The impact of this is a reduction in the deferred tax balance of which the amount relating to the
revaluation reserve is recognised through other comprehensive income and the remainder in profit or loss.
10. Group deferred tax
Property, plant Cash flow
& equipment
hedges
Provisions
Other
Total
$’000
$’000
$’000
$’000
$’000
At 31 March 2010
32,213
(388)
(424)
(74)
31,327
Charged to income
1,497
-
118
74
1,689
Impact of building depreciation no longer
tax deductible
664
-
-
-
664
Recognition from change in tax rate in profit
or loss
(795)
29
21
-
(745)
Charged to other comprehensive income
-
(47)
-
-
(47)
Recognition from change in tax rate in other
comprehensive income
(1,495)
-
-
-
(1,495)
At 31 March 2011
32,084
(406)
(286)
-
31,392
Charged to income
(347)
-
34
-
(313)
Charged to other comprehensive income
-
(69)
-
-
(69)
Revaluation of assets
13,815
-
-
-
13,815
At 31 March 2012
45,552
(475)
(252)
-
44,825
Parent entity deferred tax
Property, plant Cash flow
& equipment
hedges
Provisions
Other
Total
$’000
$’000
$’000
$’000
$’000
At 31 March 2010
31,231
(388)
(514)
(50)
30,279
Charged to income
1,396
-
118
50
1,564
Impact of building depreciation no longer
tax deductible
664
-
-
-
664
Recognition from change in tax rate in profit
or loss
(796)
29
26
-
(741)
Deferred tax arising from revaluation
189
-
-
-
189
Charged to other comprehensive income
-
(47)
-
-
(47)
Recognition from change in tax rate in other
comprehensive income
(1,435)
-
-
-
(1,435)
At 31 March 2011
31,249
(406)
(370)
-
30,473
Charged to income
(496)
-
(3)
-
(499)
Charged to other comprehensive income
-
(69)
-
-
(69)
Revaluation of assets
13,815
-
-
-
13,815
At 31 March 2012
44,568
(475)
(373)
-
43,720
54
A n n u a l R e p o r t
2 0 1 2