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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

2017

$000s

2016

$000s

2017

$000s

2016

$000s

Receivables

2,243

2,436

2,198

2,238

Less: Provision for impairment

(2)

(10)

-

-

2,241

2,426

2,198

2,238

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 2017 and 2016, all overdue receivables have been assessed for impairment and

appropriate provisions applied, as detailed below:

Parent

2017

2016

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Parent

Not past due

1,925

-

1,925

2,187

-

2,187

Past due 1 – 30 days

18

-

18

41

-

41

Past due 31 – 60 days

151

-

151

10

-

10

Past due 61 – 90 days

18

-

18

-

-

-

Past due > 91 days

86

-

86

-

-

-

2,198

-

2,198

2,238

-

2,238

Group

2017

2016

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Group

Not past due

1,958

-

1,958

2,357

-

2,357

Past due 1 – 30 days

20

-

20

50

(3)

47

Past due 31 – 60 days

158

(2)

156

14

(2)

12

Past due 61 – 90 days

20

-

20

2

(1)

1

Past due > 91 days

87

-

87

13

(4)

9

2,243

(2)

2,241

2,436

(10)

2,426

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 60% (2016: 50%) of total receivables as

follows:

Group

Parent

2017

$000s

2016

$000s

2017

$000s

2016

$000s

GST Refund due from NZ Inland Revenue Department

263

412

263

412

GST Refund due from Australian Taxation Office

1,004

618

1,004

618

Consumption Tax Refund from Japan Tax Office

55

197

55

197

VAT Refund due from UK Revenue & Customs

63

70

63

70

1,385

1,297

1,385

1,297

Note 9 continued

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