162
23 TAX EXPENSE
HBT Group
H-REIT Group
Stapled Group
2015
2014
2015
2014
2015
2014
$’000
$’000
$’000
$’000
$’000
$’000
Income tax expense
Current tax
209
42
550
332
759
373
Under provision in prior years
13
–
178
100
191
100
222
42
728
432
950
473
Deferred tax expense
Origination and reversal of
temporary differences
–
–
(99)
1,002
(44)
952
–
–
(99)
1,002
(44)
952
Tax expense
222
42
629
1,434
906
1,425
Reconciliation of
effective tax rate
Net (loss)/income
(1,633)
213
57,555 126,832
59,340 123,881
Tax calculated using
Singapore tax rate of 17%
(277)
36
9,784
21,561
10,087
21,060
Effect of tax in a foreign jurisdiction
(50)
(4)
1,475
1,980
1,425
1,987
Non-tax deductible items
1,050
12
5,996
6,460
6,521
6,894
Non-taxable item
–
–
1,255
(3,599)
1,255
(3,548)
Tax exempt income
(229)
(2)
(4,862)
(8,684)
(5,091)
(8,684)
Tax transparency
–
–
(13,468)
(14,839)
(13,468)
(14,839)
Tax incentives
(234)
–
(13)
–
(247)
–
Current year tax losses for
which no deferred tax
asset was recognised
16
–
–
–
16
–
Change in unrecognised
temporary differences
(104)
–
–
–
(104)
–
Recognition of deferred tax assets
–
–
–
(1,037)
–
(1,037)
Utilisation of tax losses
–
–
–
(508)
–
(508)
Under provision in prior years
13
–
178
100
191
100
Others
37
–
284
–
321
–
222
42
629
1,434
906
1,425
NOTES TO THE FINANCIAL STATEMENTS
