109 / 132
Movements in the provision for impairment of trade receivables that are assessed for impairment
individually are as follows:
The creation and release of the provision for impaired receivables has been included in ‘other
expenses’ in the income statement. Amounts charged to the allowance account are generally
written off when there is no expectation of recovering additional cash.
Consolidated
2017
$’000
2016
$’000
At 1 July
(31)
(24)
Provision for impairment charged to other expenses
during the financial year
(108)
(13)
Receivables written off during the year as impaired
trade receivables
25
6
At 30 June
(114)
(31)
107
Consolidated
2017
$’000
2016
$’000
Neither past due nor impaired
50,803
31,849
Past due but not impaired
30 - 60 days
8,319
18,660
61 - 90 days
320
11
> 90 days
110
700
Total
59,552
51,220
As at 30 June 2017 there was an allowance of impairment in trade and other receivables of the
Group of $0.114m (2016: $0.031m). The individually impaired items primarily relate to rental on
property where the lessees have fallen significantly behind on lease payments. Other receivables
past due but not considered impaired are nil (2016: nil).
(b) Credit risk (continued)
NOTE 11
FINANCIAL RISK MANAGEMENT (CONTINUED)
(ii) Credit quality
Allowance for impairment
The ageing analysis of trade receivables as at 30 June 2017 are listed below and include $8.7m
(2016: $19.4m) of trade receivables that are past due but not impaired. These relate to a number of
independent customers for whom there is no recent history of default. The $50.8m (2016: $31.8m)
of trade receivables is neither past due nor impaired and based on the credit history of these
customers it is expected that these amounts will be received when due.
The ageing of trade receivables is as follows: