Qantas 2013 Annual Report Download - page 121
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119
QANTAS ANNUAL REPORT 2013
6. Income Tax
Qantas Group
2013
$M
2012
$M
RECOGNISED IN THE CONSOLIDATED INCOME STATEMENT
Current income tax expense
Current year ––
Adjustments for prior year –1
–1
Deferred income tax expense
Origination and reversal of temporary differences 87 24
Benet of tax losses recognised (76) (130)
11 (106)
Total income tax expense/(benet) in the Consolidated Income Statement 11 (105)
RECONCILIATION BETWEEN INCOME TAX EXPENSE AND STATUTORY PROFIT/LOSS BEFORE
INCOME TAX EXPENSE
Statutory prot/(loss) before income tax expense 17 (349)
Income tax expense/(benet) using the domestic corporate tax rate of 30 per cent 5(105)
Add/(less) adjustments for non-deductible expenditure/(non-assessable income):
Non-deductible/(non-assessable) share of net loss/(prot) of associates and jointly controlled entities 14 3
Non-deductible foreign branch losses/utilisation or recognition of previously unrecognised foreign
tax losses 4(2)
Utilisation and recognition of previously unrecognised capital losses (5) (8)
Non-assessable gain on disposal of jointly controlled entity (10) –
Other net non-deductible items 610
Over provision in prior year (3) (3)
Income tax expense/(benet) 11 (105)
RECOGNISED IN THE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Cash ow hedges 35 (16)
Income tax expense/(benet) recognised directly in the Consolidated Statement
of Comprehensive Income 35 (16)
7. Earnings/(Loss) per Share
Qantas Group
2013
Cents
2012
Cents
Basic/diluted earnings/(loss) per share 0.2 (10.8)
$M $M
Statutory prot/(loss) attributable to members of Qantas 5 (245)
Number
M
Number
M
WEIGHTED AVERAGE NUMBER OF SHARES
Issued shares as at 1 July 2,265 2,265
Shares bought back and cancelled (23) –
Issued shares as at 30 June 2,242 2,265
Weighted average number of shares (basic and diluted) as at 30 June 2,249 2,265