FLE122 Annual Report 2018

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Below is the reconciliation of earnings before taxation to taxation expense:

Year ended June 2018 NZ$M

Year ended June 2017 NZ$M

Fletcher Building Group

(275)

Earnings/(loss) before taxation

162

(77)

Taxation at 28 cents per dollar

45

Adjusted for:

3

Difference in tax rates Non-assessable income Non-deductible expenses

(4)

(27)

(20)

22

50

5

Tax losses for which no deferred tax asset was recognised

5

(4)

Utilisation of previous unrecognised tax losses

2

Tax in respect of prior years

(1)

(5)

Effects of changes in US tax legislation

(15) (96)

Other permanent differences

(18)

57

(58) (38) (96)

Tax on earnings before significant items

82

Tax benefit on significant items

(25)

57

(87)

Total current taxation (benefit)/expense Total deferred taxation (benefit)/expense

56

(9)

1

(96)

57

Current tax assets/(liabilities) Included within the balance sheet as follows: Current tax assets

72

15

(26)

Current tax liabilities

(30) (15)

46

(15)

Opening provision for current tax assets/(liabilities)

(24)

Currency translation Taxation expense

87

(56) (42)

(120)

Transfer to deferred taxation

4 5

Non-controlling interest share of taxation expense

4 4

Tax recognised directly in reserves

85 46

Net tax payments

99

(15)

95 Fletcher Building Limited Annual Report 2018

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