Notes to the Financial Statements
81
Notes to the Financial Statements
continued
u
2013 
$’000
2012 
$’000
b) Numerical reconciliation of income tax expense to prima facie tax payable
(Loss) /Profit from continuing operations before income tax (339,615) 91,277
Tax at Australian rate of 30% (101,885) 27,3 8 3
Tax effect of amounts not deductible / assessable in calculating taxable income
Non-deductible expenses 2,367 1,302
Non-deductible amortisation 1,210 1,695
Non-deductible interest expense to preference shareholders 157 169
Share-based payment remuneration 275 –
Double deduction of expenses (Thailand) – (1,218)
Impairment of investment in associate 161 –
Share of loss of associate 406 –
Differences in Thailand tax rates (14,832) (12,403)
Non-temporary differences affecting the tax expense – (106)
Temporary difference adjustment (either change in estimate of rate of reversal or not previously recognised) – 1,229
Other temporary difference adjustment – (196)
Tax benefit of tax losses not brought to account in the prior year recognised this year – (2,687)
Tax benefit of tax losses and deductible temporary differences not brought to account 58,495 1,103
Deferred tax asset written off in the current year 37,757 –
Income tax (benefit) / expense (15,889) 16,271
Akara Resources Public Company Limited 
(“Akara”), a controlled entity, has received 
approval from The Royal Thai Board of 
Investment (BOI) of the Office of the Prime 
Minister for promotion of the Chatree Mine.
Subject to meeting the BOI conditions and 
based on an annual production limit of 
178,416 ounces of gold and 583,733 ounces 
of silver, Akara‘s Chatree Mine is entitled to:
i)  an eight year full corporate tax holiday 
commencing at first gold pour on metal 
sales. The full tax holiday expired in 
November 2009;
ii)  a further five years half tax holiday 
following i) above; and
iii) other benefits.
The start of the promotion period was  
27 November 2001.
Akara also received on 18 June 2010 a BOI 
promotion for the Chatree North gold 
processing plant. Based on annual produc-
tion limit from the new processing plant of 
185,200 ounces of gold and 1,080,400 
ounces of silver, Akara is entitled to:
i)  an eight year tax holiday on income 
derived from the new processing plant 
with tax savings limited to the capital 
cost of the new treatment plant;
ii)  25% investment allowance on the 
capital cost of certain assets of the new 
processing plant; and
iii) other benefits.
The start of the promotion period was  
1 November 2012.