Page 117 - ar2012

annual report 2012
115
Notes to the Financial Statements
19 Income tax expense (cont’d)
Reconciliation of effective tax rate
HBT H-REIT Group Stapled Group
2012 2011 2012 2011 2012 2011
$’000 $’000 $’000 $’000 $’000 $’000
Net (loss)/income (1) (3) 124,531 180,792 124,530 180,789
Tax calculated using
Singapore tax rate of 17% – (1) 21,170 30,735 21,170 30,734
Effect of tax in a foreign jurisdiction – – 514 720 514 720
Non-tax deductible items – 1 2,974 5,363 2,974 5,364
Non-taxable item – – (1,297) (11,894) (1,297) (11,894)
Utilisation of previously
unrecognised tax losses – – (316) (322) (316) (322)
Tax exempt income – – (3,579) (3,243) (3,579) (3,243)
Tax transparency (Note 3.10) – – (17,103) (16,842) (17,103) (16,842)
Overprovision in respect
of prior year – – – (17) – (17)
– – 2,363 4,500 2,363 4,500
20 Earnings per Stapled Security
Basic earnings per Stapled Security is based on:
Stapled Group
2012 2011
$’000 $’000
Total return for the year 122,167 176,289
Number of Stapled Securities
2012 2011
’000 ’000
Weighted average number of Stapled Securities:
- outstanding during the year 966,857 961,058
- to be issued as payment of H-REIT Manager’s
management fees payable in Stapled Securities 4 4
966,861 961,062
Diluted earnings per Stapled Security is the same as the basic earnings per Stapled Security as there are
no dilutive instruments in issue during the year.