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7 INCOME TAX EXPENSE
Consolidated
2016
$'000
2015
$'000
(a) Income tax (expense)/credit
Surplus subject to income tax
-
418
Income tax at 28%
-
117
Deferred tax reversal
12
(3,183)
Income tax (expense)/credit
12
(3,066)
(b) Tax credits available for use in subsequent reporting periods
Māori authority tax credits
106
134
106
134
Movements
Balance at 1 April
134
32
Māori authority credits used
(102)
-
Māori authority credits attached to dividends received
74
102
Balance at 31 March
106
134
(c) Unrecognised deferred tax balances
Unused tax losses
2,000
2,042
Unrecognised deferred tax balances
2,000
2,042
Due to the charitable status of the entities within the Trust the surplus subject to income tax is lower that profit before tax in
Statement of Comprehensive revenue and expense. The taxable members of the Trust have sufficient losses to carry forward
to meet any potential income tax liability. The taxable losses are not recorded in the financial statements due to the lack of
probability that the losses will be recovered.