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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
72 Independence Group NL
Notes to the consolidated financial statements
30 June 2016
(continued)
3 Other income
2016
$'000
2015
$'000
Net gain on disposal of property, plant and equipment
-
211
Net foreign exchange gains
907
2,892
Net gain on sale of investments
1,433
-
Net gain on disposal of tenements
1,522
165
3,862
3,268
4 Expenses and losses
2016
$'000
2015
$'000
Cost of sale of goods
233,880
239,745
Employee benefits expenses
66,975
63,841
Share-based payments expense
819
2,949
Exploration costs expensed
19,720
25,263
Rental expense relating to operating leases
1,473
1,273
Rehabilitation and restoration borrowing costs
707
590
Impairment of exploration and evaluation expenditure
35,518
3,461
Net loss of sale of property, plant and equipment
219
-
Amortisation expense
84,843
81,911
Depreciation
Depreciation expense
15,759
16,640
Less : amounts capitalised
(907)
-
Depreciation expensed
14,852
16,640
Borrowing and finance costs
Borrowing and finance costs - other entities
10,729
857
Amortisation of borrowing costs
402
709
Less: amounts capitalised
(11,055)
-
Finance costs expensed
76
1,566
5 Income tax
(a) Income tax expense
2016
$'000
2015
$'000
The major components of income tax expense are:
Deferred income tax expense
17,087
15,841
Current income tax (benefit) expense
(17,529)
17,341
Income tax (benefit) expense
(442)
33,182
Deferred income tax revenue (expense) included in income tax expense comprises:
(Increase) decrease in deferred tax assets
(25,141)
22,068
Increase in deferred tax liabilities
24,699
11,114
Income tax (benefit) expense
(442)
33,182
Independence Group NL
44