2011/2012 Annual Report - Metro Tasmania

NOTES TO THE FINANCIAL STATEMENTS
CONSOLIDATED
2012 2011
Note 15. EMPLOYEE BENEFITS $’000 $’000
Current:
Retirement benefits 1,254 793
Compensated benefits:
Accrued salaries and wages 816 887
Annual leave 1,599 1,622
Long service leave 1,954 1,834
Workers compensation 47 47
5,670 5,183
Non-current:
Retirement benefits 24,605 18,601
Compensated benefits:
Long service leave 735 629
25,340 19,230
31,010 24,413
Note 16. CONTRIBUTED EQUITY
Issued capital – two shares of $1 each
Contributed equity 15,503 15,503
15,503 15,503
Note 17. ASSET REVALUATION RESERVES
CONSOLIDATED
Land and
buildings Buses Total
2012 $’000 $’000 $’000
Balance at beginning of financial year 4,661 8,916 13,577
Revaluation increments/(decrements) (954) – (954)
Impairment losses – (113) (113)
Disposal of revalued buses – (40) (40)
Deferred tax asset/(liability) 294 34 328
Balance at end of financial year 4,001 8,797 12,798
CONSOLIDATED
Land and
buildings Buses Total
2011 $’000 $’000 $’000
Balance at beginning of financial year 4,661 8,933 13,594
Revaluation increments/(decrements) – – –
Impairment losses – (24) (24)
Disposal of revalued buses – – –
Deferred tax asset/(liability) – 7 7
Balance at end of financial year 4,661 8,916 13,577
The asset revaluation reserves are used to record increments and decrements on the revaluation of non-current
assets. Where a revalued asset is sold that portion of the asset revaluation reserve which relates to that asset is
transferred to retained profits.
46 METRO Annual Report 2011 | 2012