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The Group’s current tax expense for the year ended 30 June 2017 is nil (2016: nil) due to the
existence of tax deductions available to the Group as a result of the Group’s ability to claim tax
depreciation on NSW lease assets utilising Division 58 of the Income Tax Assessment Act 1997
and to utilise offsets generated in previous years.
Accounting policy
Income tax
Accounting policies related to income tax refer to note 7(e).
Consolidated
2017
$’000
2016
$’000
Current tax expense
-
-
Deferred tax relates to the following:
Tax losses & offsets available for offsetting against future taxable
income
2,024
(716)
Origination or reversal of temporary differences in relation
to the following items:
Property, plant and equipment
25,800
76,305
Other receivables
(839)
(1,344)
Other
93
(33)
27,078
74,212
Total income tax expense/(benefit)
27,078
74,212
(g) Income tax expense/(benefit)
79
NOTE 5
INCOME AND EXPENSES (CONTINUED)