Annual Report - AWB Limited

AWB LIMITED Notes to and forming part of the financial statements for the year ended 30 September 20083. Income Tax Expense (continued)ConsolidatedAWB Limited2008 2007 2008 2007$’000 $’000 $’000 $’000(c) Amounts recognised directly in equityAggregate current and deferred tax arising in the reporting period and notrecognised in net profit or loss but directly debited or credited to equity - - - -Net deferred tax - debited/(credited) directly to equity (3,274) 2,465 (999) 1,053(3,274) 2,465 (999) 1,053AWB Limited2008 2007$’000 $’000(d) Tax consolidationAWB Limited has recognised the following amounts as tax-consolidation adjustments:Total increase/(reduction) to tax payable of AWB Limited 38,657 10,409Total increase/(reduction) to intercompany assets of AWB Limited 69,084 33,157Total increase/(reduction) to investment in subsidiary accounts of AWB Limited 30,427 22,748ConsolidatedAWB Limited2008 2007 2008 2007$’000 $’000 $’000 $’0004. Cash and Cash EquivalentsCash at bank and on hand 49,935 69,533 5,664 44,951Short term deposits 501,721 476,854 - -551,656 546,387 5,664 44,951The above figures are reconciled to cash at the end of the financial year as shown in the statement of cash flows.70 www.awb.com.au