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Forest NSW Annual Report 2012

Notes to and forming part of the financial statements For the year ended 30 June 2012 Note 7: Income Tax Expense Economic Economic Statutory Statutory Entity Entity Corporation Corporation 2012 2011 2012 2011 $'000 $'000 $'000 $'000 Current Tax Expense / (Benefit)         Current Period 3781 4867 3781 4867 Prior Year (328) - (328) - Deferred Tax Expense / (Benefit)         Origination and reversal of temporary differences (5621) 45 518 (5621) 45 518 Prior Year (320) - (320) - Total Income Tax Expense / (Benefit) (2488) 50 385 (2488) 50 385 Numerical reconciliation between tax expense and pre-tax accounting profit  Pre-Tax Accounting Profit / (Loss) (76 910) 126 814 (84 115) 128 806           Income tax using the statutory rate of 30% (23 073) 38 044 (25 235) 38 642 Aggregate income tax expense relation to timing 20 520 12 341 22 682 11 743 difference and non deductible/non assessable items Prior Year 65 - 65 - Total Income Tax Expense / (Benefit) (2488) 50 385 (2488) 50 385 Tax Recognised Directly in Equity   2012 2011 Tax (expense) Tax (expense) Economic Entity and Statutory Corporation Before tax Net of tax Before tax Net of tax / benefit / benefit   $'000 $'000 $'000 $'000 $'000 $'000 Transfer of asset revaluation reserves to retained - - - (29 102) 8731 (20 371) profit   - - - (29 102) 8731 (20 371) Tax Recognised in Other Comprehensive Income   2012 2011 Tax (expense) Tax (expense) Economic Entity and Statutory Corporation Before tax Net of tax Before tax Net of tax / benefit / benefit   $'000 $'000 $'000 $'000 $'000 $'000 Revaluation of property, plant and equipment 53 163 (15 885) 37 278 (259) 119 (140)   53 163 (15 885) 37 278 (259) 119 (140) Forests NSW Annual Report 2011–12 Social, Environmental and Economic Performance 67


Forest NSW Annual Report 2012
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