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Wool Stocktake : AWI Annual Report 2015-16
NOTE 6: Research, development and marketing expenditure Consolidated 2016 2015 $'000 $'000 International Network 11,691 10,794 Global marketing 28,330 25,986 On-farm research & development 15,259 13,635 Off-farm research & development 10,003 8,170 65,283 58,585 Corporate services 11,237 12,095 Total RDI expenditure 76,520 70,680 NOTE 7: Income tax expense Consolidated 2016 2015 $'000 $'000 (a) Income tax expense Current tax 28 168 Deferred tax - (1) 28 167 (b) Numerical reconciliation of income tax expense to prima facie tax payable Profit from continuing operations before income tax expense 2,695 2,492 Tax at the Australian tax rate of 30% (2015 - 30%) 809 748 Tax losses and temporary differences not brought to account (688) (657) Differences in overseas tax rates (27) 21 Adjustments for current tax of prior periods (66) 55 Income tax expense 28 167 The Group has not recognised deferred tax assets relating to tax losses or temporary differences arising from loss making operations as it is not probable that the benefits will be realised. AWI exempt from income taxes not indirect taxes. FINANCIAL REPORT 75
AWI Annual Report 2014-15
AWI Annual Report 2016-17