Download - AHG Limited

2012 Annual Report
For the year ended June 2012
8. Income tax
Income tax expense
2012
$’000
Consolidated
2011
$’000
Current tax 31,999 23,650
Deferred tax (4,068) (797)
Adjustment for current tax of prior periods (336) (736)
27,595 22,117
Income tax expense is attributable to:
Profit from continuing operations 27,595 22,117
27,595 22,117
Deferred income tax expense included in income tax expense comprises:
Increase in deferred tax assets (5,023) (876)
Increase in deferred tax liabilities 955 79
(4,068) (797)
Amounts charged or credited directly to equity
2012
$’000
Consolidated
2011
$’000
Aggregate current and deferred tax arising in the reporting period and not
recognised in net profit or loss but directly debited or credited to equity
Current tax - credited directly to equity - (154)
Net deferred tax - credited directly to equity (754) (996)
(754) (1,150)
Numerical reconciliation of income tax expense to prima facie tax payable
2012
$’000
Consolidated
2011
$’000
Profit from continuing operations before income tax expense 81,147 55,269
Corporate tax at the rate of 30% (2011: 30%) 24,349 16,581
Non-deductible expenses 496 471
Non-deductible diminution of investment and impairment of intangibles 2,913 5,956
Non-deductible stamp duty attributed to goodwill on acquisition 173 -
Other - (155)
Income tax expense 27,931 22,853
Adjustments in respect of current income tax of previous years (336) (736)
Income tax expense 27,595 22,117
Automotive Holdings Group 89