Note 22
Current liabilities - Deferred income government grants
Consolidated
2012
2011
$’000
$’000
Government grants
17,331
12,479
17,331
12,479
The Government grants received by the Group to
30 June 2012 and classified as current are $17.3m.
Where the Grants have attached conditions
and/or are project specific, they are
recognised at their fair value and initially
credited to Deferred Income upon receipt,
then recognised in the Consolidated Income
Statement over the period necessary to match
them with the costs that they are intended
to compensate. Where those grants relate
to expenditure that is to be capitalised, they
are credited to the Consolidated Income
Statement on a straight line basis over the
expected lives of the related assets from the
date of commissioning.
Note 23
Current liabilities - Finance lease
Consolidated
2012
2011
$’000
$’000
Finance lease
233
209
233
209
(a)
Interest rate risk is considered negligible.
(b)
The carrying amount of the finance lease
liabilities approximates fair value.
95
