text: entities from the Corporations Law requirements for preparation, audit and lodgement of the financial 
  report. As a condition of the Class Order, Mermaid Marine Australia Limited and the controlled 
  entities entered into a Deed of Cross Guarantee on 24 June 1999. 
  
  **Note** **Consolidated** **Company**
  
  **2000**
  **$** **1999**
  **$** **2000**
  **$** **1999**
  **$**
  
  **12. OTHER NON CURRENT ASSETS**
  
  Future income tax benefit 
  - timing differences  664,722  318,202  –  – 
  
  **13.**
  
  **INTANGIBLES**
  Goodwill arising on consolidation 
  Write off of goodwill  – 
  –  95,105 
  (95,105)  – 
  –  – 
  – 
  
  –  –  –  – 
  
  **14. ACCOUNTS PAYABLE**
  
  Trade payables 
  Other payables and accruals  1,844,206 
  519,300  1,079,327 
  534,897  – 
  –  55,590 
  42,785 
  
  2,363,506  1,614,224  –  98,375 