Telstra 2015 Annual Report Download - page 116
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Notes to the Financial Statements (continued)
NOTE 16. PROVISIONS
114 Telstra Corporation Limited and controlled entities
16.1 Current and non current provisions
(a) Aggregate employee benefits
(a) Accrued labour and related on-costs are included within our
current trade and other payables (note 15).
Provision for employee benefits consists of amounts for annual
leave and long service leave accrued by employees.
For long service leave, these amounts cover all unconditional
entitlements where employees have completed the required
period of service and also those where employees are entitled to
pro-rata payments in certain circumstances. The amounts of the
current provision are presented as current, since we do not have
an unconditional right to defer settlement for any of these
obligations. However, based on past experience, we do not expect
all employees to take the full amount of accrued leave or require
payment within the next 12 months.
The following amounts have been determined in accordance with
an actuarial assessment and reflect leave that is not expected to
be taken or paid within the next 12 months:
Employee benefits are measured at their present value. Refer to
note 2.14 for further details. The following assumptions were
adopted in measuring this amount.
Telstra Group
As at 30 June
2015 2014
$m $m
Current
Employee benefits (a) 844 838
Workers' compensation (b) 21 22
Redundancy (a)(b) 11 40
Other (b) 94 32
970 932
Non current
Employee benefits (a) 147 135
Workers' compensation (b) 117 121
Other (b) 20 5
284 261
Telstra Group
As at 30 June
2015 2014
$m $m
Current provision for employee benefits 844 838
Non current provision for employee
benefits 147 135
Current provision for redundancy 11 40
Accrued labour and on-costs (a) 553 440
1,555 1,453
Telstra Group
As at 30 June
2015 2014
$m $m
Leave obligations expected to be
settled after 12 months 524 521
Telstra Group
As at 30 June
2015 2014
%%
Weighted average projected
increase in salaries, wages and
associated on-costs 4.8 4.8
Discount rates 4.4 3.7