NOTE 07
INCOME TAX EXPENSE/(BENEFIT) (CONTINUED)
(d) Amounts charged or credited directly to equity
Consolidated
2014
$’000
Restated
2013
$’000
Deferred income tax related to items charged directly to equity
Net (loss)/gain on revaluation of infrastructure assets
(8,730)
48,201
Net (loss)/gain on defined benefit fund
(644)
1,162
Net gain/(loss) on interest rate swap
1,459
(749)
Net (loss) on foreign exchange hedge
(30)
(22)
(7,945)
48,592
Deferred income tax charge included in equity comprises:
(Decrease)/increase in deferred tax liabilities
(30)
(22)
(Increase)/decrease in deferred tax assets
(7,915)
48,614
(7,945)
48,592
(e) Tax consolidation legislation
Australian Rail Track Corporation Ltd and its wholly owned Australian controlled entities have been consolidated for
income tax purposes as of 1 July 2003. The accounting policy in relation to this legislation is set out in note 1(n).
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