NOTES TO THE
FINANCIAL STATEMENTS
Year ended 31 December 2014
20 INCOME TAX EXPENSE (CONT’D)
Reconciliation of effective tax rate
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Total return for the year before income tax
133,813
104,586
126,004
163,566
Income tax using Singapore tax rate of 17%
(2013: 17%)
22,748
17,780
21,421
27,807
Effect of different tax rate in foreign jurisdictions
2,160
605
–
–
Income not subject to tax
(4,727)
(7,426)
(12,823)
(19,346)
Non-tax deductible items
1,439
3,988
315
179
Tax transparency
(8,913)
(8,640)
(8,913)
(8,640)
12,707
6,307
–
–
21 EARNINGS PER UNIT
The calculation of basic earnings per unit is based on weighted average number of units in issue during the year
and total return after income tax.
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Total return before income tax and distribution
133,813
104,586
126,004
163,566
Less: Income tax expense
(12,707)
(6,307)
–
–
Total return after income tax, before distribution
121,106
98,279
126,004
163,566
Group and Trust
2014
2013
Number
of Units
Number
of Units
(’000)
(’000)
Units issued at beginning and end of year
605,002
605,002
Group
Trust
2014
2013
2014
2013
Basic earnings per unit (cents)
20.02
16.24
20.83
27.04
Diluted earnings per unit is the same as the basic earnings per unit as there are no dilutive instruments in issue
during the financial year.
130
PA R K WAY L I F E R E I T
