NOTES TO THE FINANCIAL STATEMENTS continued
08. Fair value change on financial instruments://
2018 $M
2017 $M
Fair value movement on hedging instruments Fair value movement on hedged items
32.2
(53.6)
(29.1)
56.3
Reclassification of investment in associate to financial asset
–
(1.1)
Total gains/(losses)
3.1
1.6
09. Income tax expense/ (benefit)://
2017 $M
2018 $M
Reconciliation of income tax expense/(benefit)
Profit/(loss) before income tax Tax at current rate of 28% Current tax adjustments: Non-deductible expenses
186.6
203.0
52.2
56.8
3.3
2.0
Relating to prior periods – depreciation method Relating to prior periods – tax dispute settlement
– –
17.2
(12.6)
Relating to prior periods – others
1.9
(6.1)
Relating to MEL Network Limited removal
(16.7)
–
Other
(1.3)
(3.1)
Deferred tax adjustments: Relating to prior periods – depreciation method Relating to prior periods – tax dispute settlement
– –
(17.2)
(2.5) (0.4)
Relating to prior periods – others Income tax expense/(benefit)
(2.6)
36.8
34.1
Comprising: Current tax Deferred tax
28.1
43.2
8.7
(9.1)
79
Vector://AR 18
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