ANNUAL REPORT 2021-22

54 ANNUAL REPORT 2021-22 ANNUAL REPORT 2021-22 2022 2021 2022 2021 12. TRADE AND OTHER PAYABLES $'000 $'000 16. DEFERRED TAX LIABILITIES $'000 $'000 Deferred tax liability comprises temporary differences attributable to: Current Trade creditors Other creditors and accruals Energy accruals Non-current Other non-current payables 13,290 12,860 12,370 6,162 10,855 10,278 36,515 29,300 The policy of the Corporation is to settle current trade payables within 30 days. The Corporation has financial risk management policies in place to ensure that all payables are paid within the credit timeframe. 13. CURRENT TAX PAYABLE 14. Provision for income tax Current tax payable EMPLOYEE PROVISIONS Current Employee benefits 5,535 5,535 310 310 Amounts recognised in profit or loss: Property, plant and equipment Interest Deferred tax liabilities Movements: Opening deferred tax liability Charged/(credited) to profit or loss Movement to deferred tax assets Closing deferred tax liabilities 17. BORROWINGS Non-current Northern Territory Government loans- unsecured 2,260 1,532 13 2 2,273 1,534 1,534 3 739 1,531 2,273 1,534 230,000 230,000 230,000 230,000 The loans have been classified as non-current as the Corporation has the discretion to roll over the maturing loans for at least twelve months after the reporting period. Refer to Note 1(0) Borrowings, Note 25(f) Interest rate risk and Note 25(h) Liquidity risk. 12,698 12,698 11,825 11,825 18. DEFERRED INCOME Non-current Employee benefits 1,070 1,421 1,070 1,421 Employee benefits include amounts for recreation leave, long service leave and related on costs. It is expected that recreation leave earned should be settled within 12 months. 15. OTHER PROVISIONS Decommissioning Opening decommissioning provision 5,900 5,356 Additional/(reversal) of provisions (129) 544 Closing decommissioning provision 5,771 5,900 The decommissioning provision has been recognised due to the existence of a present obligation for the rectification of the operating site at Ron Goodin Power Station which is coming to the end of its useful life, and for the disposal of Tennant Creek Power Station old engines. The decommissioning provision has been adjusted for the time value of money based on its estimated future payments. Current Non-current 5,002 35,389 40,391 3,333 38,722 42,055 The Corporation received a $50 million capital grant toward the construction of Alice Springs and Tennant Creek power stations in 2016-17. Construction was completed during the 2018-19 year. Accordingly, a portion of the deferred income was realised and allocated to statement of profit or loss and other comprehensive income during the year. Refer to Note 1(d). In 2021-22 the Corporation received a $1.7 million micro-grid grant towards options analysis for future technologies in Yulara. The grant monies are expected to be utilised in the 2022-23 financial year. 55

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