Annual Report

44
Ausgrid and Controlled Entity
Notes to financial statements
For the year ended 30 June 2015
6. DEFERRED TAX ASSETS / LIABILITIES
Recognised deferred tax assets and liabilities
Deferred tax assets and liabilities are attributable to the following:
Consolidated Entity & Ausgrid
Property, plant and equipment 1 338.9 1 379.7
Intangible assets 5.9 4.4
Employee benefits (115.0) (123.1)
Deferred government grants (14.5) (15.0)
Provisions (35.6) (57.9)
Defined superannuation benefit (33.9) (70.5)
Other items (2.2) (1.4)
Tax (assets) / liabilities 1 143.6 1 116.2
The deductible temporary differences and tax losses do not expire under current tax legislation.
2015
$M
2014
$M
Movement in temporary differences during the year
Balance
1 July 2014
$M
Recognised
in profit or loss
$M
Recognised
in other
comprehensive
income
$M
Balance
30 June 2015
$M
Property, plant and equipment 1 379.7 (36.1) (4.7) 1 338.9
Intangible assets 4.4 1.5 – 5.9
Employee benefits (123.1) 8.1 – (115.0)
Deferred government grants (15.0) 0.5 – (14.5)
Provisions (57.9) 21.9 0.4 (35.6)
Defined superannuation benefit (70.5) 3.7 32.9 (33.9)
Other items (1.4) (0.8) – (2.2)
1 116.2 (1.2) 28.6 1 143.6
Movement in temporary differences during the year
Balance
1 July 2013
$M
Recognised
in profit or loss
$M
Recognised
in other
comprehensive
income
$M
Balance
30 June 2014
$M
Unread meters income 49.2 (49.2) – –
Property, plant and equipment 1 436.9 (58.8) 1.6 1 379.7
Intangible assets 13.5 (9.1) – 4.4
Employee benefits (133.7) 10.6 – (123.1)
Deferred government grants (15.4) 0.4 – (15.0)
Provisions (63.8) 5.9 – (57.9)
Defined superannuation benefit (79.9) 2.9 6.5 (70.5)
Other items (1.3) (0.1) – (1.4)
1 205.5 (97.4) 8.1 1 116.2