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Wool Stocktake : AWI Annual Report 2017-18
NOTE 5: EXPENSES Consolidated 2018 2017 $'000 $'000 Depreciation and amortisation Buildings 2 2 Plant and equipment 677 540 Leasehold improvements 418 430 Total depreciation and amortisation 1,097 972 Rental expense relating to operating leases 2,440 2,162 Defined contribution superannuation expense 1,485 1,373 NOTE 6: RESEARCH, DEVELOPMENT AND MARKETING EXPENDITURE Consolidated 2018 2017 $'000 $'000 Marketing 39,451 31,762 Sheep production 13,957 10,827 Woolgrower services 9,861 7,878 Processing innovation & education extension 9,459 7,025 Digital services 4,244 3,386 Support & administration 10,052 9,565 Total RDM expenditure 87,024 70,443 NOTE 7: INCOME TAX EXPENSE Consolidated 2018 2017 $'000 $'000 (a) Income tax expense Current tax 119 88 (b) Numerical reconciliation of income tax expense to prima facie tax payable Profit from continuing operations before income tax expense 15,576 17,270 Tax at the Australian tax rate of 30% (2017 - 30%) 4,673 5,181 Non-taxable income, tax losses and temporary differences not brought to account (4,526) (5,071) Differences in overseas tax rates (52) (33) Adjustments for current tax of prior periods 24 11 Income tax expense 119 88 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 parent company is exempt from income taxes not indirect taxes. FINANCIAL REPORT 85
AWI Annual Report 2016-17