Port Hedland Port Authority Annual Report 2011 - Parliament of ...

Note 8. Income Tax Expense
2011 2010
(a) Income Tax Expense $'000 $'000
Current Taxation 2,014 551
Deferred Income Tax (228) (1,400)
Under (Over) Provision in Prior Year 52 (235)
(b) Numerical Reconciliation of Income Tax Expense to Prima Facie Tax
Payable
1,838 (1,084)
Profit Before Income Tax Expense 4,955 (2,577)
Tax at the Australian Tax Rate of 30% (2010 - 30%) 1,487 (773)
Tax Effect of Amounts Which are not Deductible (Taxable) in Calculating
Taxable Income:
Entertainment and Travel 26 21
Non Deductible Consulting Expense - 2
Investment Allowance - (72)
Adjustment to tax fixed assets - 21
Consumables 272 -
Other - (52)
Depreciation on Plant and Equipment (Non Depreciable for Tax) 1 4
1,786 (849)
Under (Over) Provision in Prior Years 52 (235)
Total Income Tax Expense 1,838 (1,084)
Note 9. Employee Benefits
2011 2010
$'000
$'000
Wages and Salaries (a) 9,499 4,993
Superannuation (b) 1,155 718
Long Service Leave 188 105
Annual Leave 822 525
11,664 6,341
(a) Includes the value of the fringe benefit to the employee plus the fringe benefit tax component.
(b) Includes defined benefits plan.
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