NOTE 20
CURRENT LIABILITIES – DEFERRED INCOME GOVERNMENT GRANTS
Consolidated
2013
$’000
2012
$’000
Government grants
18,934
17,331
18,934
17,331
The government grants received by the Group to 30
June 2013 and classified as current are $18.9m.
Where the grants have attached conditions and/
or are project specific, they are recognised at their
fair value and initially credited to Deferred Income
upon receipt, then recognised in the Consolidated
Income Statement over the period necessary to
match them with the costs that they are intended
to compensate. Where those grants relate to
expenditure that is to be capitalised, they are
credited to the Consolidated Income Statement on
a straight line basis over the expected lives of the
related assets from the date of commissioning.
NOTE 21
CURRENT LIABILITIES – FINANCE LEASE
Consolidated
2013
$’000
2012
$’000
Finance lease
316
233
316
233
(a) Interest rate risk is considered negligible.
(b) The carrying amount of the finance lease liabilities approximates fair value.
NOTE 22
NON-CURRENT LIABILITIES – INTEREST BEARING LIABILITIES
Consolidated
2013
$’000
2012
$’000
Bond issue - maturing 20 December 2017
199,214
198,991
Bond Issue - maturing 9 December 2014
300,223
299,936
Bond issue - maturing 29 April 2016
250,794
-
Syndicated Debt Facility
329,909
-
1,080,140
498,927
85
