Annual Report 2013 - Mainfreight

7 Income Tax (continued)
Recognised Deferred Tax Assets and Liabilities
2013
$000
Balance Sheet
2012
$000
Income Statement
2013
2012
$000 $000
Group
(i) Deferred Tax Assets
Doubtful Debts 1,214 1,238 1 (29)
Provisions: Annual Leave 2,714 2,539 (206) (263)
Long Service Leave 1,772 1,614 (186) (322)
Bonuses 4,277 3,908 (408) (413)
Superannuation 2 152 147 (20)
ACC 81 76 (5) 4
Onerous Lease Provision 531 830 – –
Other 4,686 4,619 23 (2,950)
Foreign Exchange Impact – – (576) (1,587)
Gross Deferred Tax Assets 15,277 14,976
Set-off of Deferred Tax Liabilities 8,049 7,519
Net Deferred Tax Assets per Balance Sheet 7,228 7,457
(ii) Deferred Tax Liabilities
Deferred Tax on Long Lived Buildings 15,643 16,360 (716) (550)
Customer Lists 5,299 6,275 (647) (571)
Accelerated Depreciation: Buildings, Plant & Equipment 13,172 13,711 41 1,713
Unrealised FX Gains/Losses 14 16 (2) –
Gross Deferred Tax Liabilities 34,128 36,362
Set-off of Deferred Tax Liabilities Against Assets 8,049 7,519
Net Deferred Tax Liabilities 26,079 28,843
Deferred Tax Income/(Expense) (2,534) (4,988)
92 Mainfreight | Annual Report 2013