126 / 152
notes tothe
financial statements
124
STARHILL global reit ANNUAL REPORT FY 2016/17
19.
Trust expenses
Group
Trust
2017
$’000
2016
$’000
2017
$’000
2016
$’000
Auditor’s remuneration
462
489
230
230
Trustee’s fees
487
481
487
481
Others
(1)
2,593
2,493
2,041
2,462
3,542
3,463
2,758
3,173
(1)
Included in other trust expenses are (i) non-audit fees paid/payable to the auditors of the Group of approximately $193,000 (2016: $145,000); and (ii) fees paid/payable
to the valuers of the Group’s investment properties of approximately $184,000 (2016: $169,000) for the year ended 30 June 2017.
20. Finance expenses
Group
Trust
2017
$’000
2016
$’000
2017
$’000
2016
$’000
Interest on borrowings
32,222
34,859
20,176
21,808
Interest on derivatives (net)
4,476
1,782
3,368
994
Amortisation of borrowing costs
2,232
2,126
1,512
1,409
38,930
38,767
25,056
24,211
21.
Income tax
Group
Trust
2017
$’000
2016
$’000
2017
$’000
2016
$’000
Current tax
Current year
1,797
1,872
405
–
Deferred tax
Reversal of temporary differences
(3,065)
(4,196)
–
–
(1,268)
(2,324)
405
–
Reconciliation of effective tax rate
Total return before tax and distribution
98,986
161,572
81,583
114,996
Income tax using Singapore tax rate of 17%
16,828
27,467
13,869
19,549
Net effect of different tax rates in other countries
(420)
90
–
–
Withholding tax
1,915
1,391
405
–
Income not subject to tax
(7,797)
(23,200)
(2,999)
(11,902)
Non-deductible items
2,736
6,444
3,660
6,869
Tax transparency
(14,530)
(14,516)
(14,530)
(14,516)
(1,268)
(2,324)
405
–