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The provision for impairment has been calculated based on expected losses determined by an analysis of losses in previous periods

and a review of specific debtors.

Group

Parent

Receivables from exchange transactions

2016

$000s

2015

$000s

2016

$000s

2015

$000s

Receivables

2,436

2,011

2,238

1,873

Less: Provision for impairment

(10)

(3)

-

-

2,426

2,008

2,238

1,873

Receivables from exchange transactions are non-interest bearing and are generally on 30-day terms. The carrying value of receivables

approximates their fair value. As at 30 June 2016 and 2015, all overdue receivables have been assessed for impairment and

appropriate provisions applied, as detailed below:

Parent

2016

2015

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Parent

Not past due

2,187

-

2,187

1,835

-

1,835

Past due 1 – 30 days

41

-

41

38

-

38

Past due 31 – 60 days

10

-

10

-

-

-

Past due 61 – 90 days

-

-

-

-

-

-

Past due > 91 days

-

-

-

-

-

-

2,238

-

2,238

1,873

-

1,873

Group

2016

2015

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Group

Not past due

2,357

-

2,357

1,883

-

1,883

Past due 1 – 30 days

50

(3)

47

113

-

113

Past due 31 – 60 days

14

(2)

12

9

(1)

8

Past due 61 – 90 days

2

(1)

1

-

-

-

Past due > 91 days

13

(4)

9

6

(2)

4

2,436

(10)

2,426

2,011

(3)

2,008

The provision for impairment has been calculated based on expected losses determined by an analysis of losses in previous periods

and a review of specific debtors.

Receivables from exchange transactions for the Group include GST/VAT refunds comprising 50% (2015: 70%) of total receivables as

follows:

Group

Parent

2016

$000s

2015

$000s

2016

$000s

2015

$000s

GST Refund due from NZ Inland Revenue Department

412

781

412

781

GST Refund due from Australian Taxation Office

618

232

618

232

Consumption Tax Refund from Japan Tax Office

197

155

197

155

VAT Refund due from UK Revenue & Customs

70

275

70

275

1,297

1,443

1,297

1,443

Note 9 continued

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