CQUniversity Annual Report - Central Queensland University

28
Central Queensland University
and Controlled Entities
Notes to the Financial Statements
for the year ended 31 December 2012
Consolidated
Parent Entity
Notes 2012 2011 2012 2011
$'000 $'000 $'000 $'000
Note 16. Income tax expense
Current tax 10 562 - -
Deferred tax (386) (250) - -
Under/(over) provided in prior years - - - -
(376) 312 - -
Income tax expense is attributable to:
Operating result from continuing operations (376) 312 - -
Operating result from discontinued operations - - - -
Aggregate income tax expense (376) 312 - -
Deferred income tax (revenue)/expense included in income
tax expense comprises:
Decrease/(increase) in deferred tax assets (304) (212) - -
(Decrease)/increase in deferred tax liabilities (82) (38) - -
(386) (250) - -
(b) Numerical reconciliation of income tax expense to prima facie tax payable
Operating result from continuing operations
before income tax expense (1,384) 956 - -
Tax at the Australian tax rate of 30% (2011: 30%) (415) 287 - -
Tax effect of amounts which are not deductible/(taxable) in
calculating taxable income:
Sundry items 22 25 - -
Income tax expense (393) 312 - -
Under/(over) provided in prior years 17 - - -
Income tax expense (376) 312 - -
Note 17. Cash and cash equivalents
Cash at bank and on hand 2,800 2,897 1,504 1,484
Deposits at call 15,318 41,270 6,666 28,028
Other - trust fund 132 119 - -
Total cash and cash equivalents 18,250 44,286 8,170 29,512
(a) Cash at bank and on hand
Cash on hand - These are non-interest bearing.
Cash at bank - These deposits are bearing weighted average interest rate 2.70% (2011: 3.6%).
(b) Deposits at call
The deposits are bearing floating interest rates between 3% and 4.73% (2011: 3.25% and 5.22%). These deposits are held in "on-call'
accounts and available daily.