Broome Port Authority - Parliament of Western Australia

Deferred income tax
2010 2010 2011 2010
Balance
Sheet
Balance
Sheet
Income
Statement
Income
Statement
$,000 $,000 $,000 $,000
Deferred ta x liabilities
Receivables 19 74 ( 54) 67
Accelerated depreciation for tax
purposes -
- -
FBT Installment
5 6 (2) -
24
80
Deferred tax assets
Receivables - -
- -
Accelerated depreciation for tax
purposes 264 274
9 12
Payables 16
17
2 (11)
Employee benefits
197 158
(39) (10)
Borrowing costs -
-
- -
Business related costs
110 11 (99) 11
Tax losses - -
- -
587 460
Set-off of deferred tax liabilities pursuant
to the set-off provisions (24) (80)
Net deferred tax assets (liabilities) 563 380
Deferred tax charge (183) 69
11. Dividends
2011 2010
$’000 $’000
Dividends payable/paid in the financial year 775 825
In accordance with the Government Financial Policy, WA Ports are required to pay dividends of
65% of after tax profits for 2011 and 2010. However, in accordance with Australian Accounting
Standards, dividends relating to the financial results for the year ended 30 June 2011 have not been
provided as they are expected to be declared by Government after balance date.
A dividend of $775,450 in respect of the financial year results for the year ended 30 June 2010 is
due
and payable by 30 June 2012.
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