IGO Interactive Annual Report 2019

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2019 Notes to the consolidated financial statements 30 June 2019 (continued) 19 Dividends paid and proposed (continued) (ii) Dividends not recognised at the end of the reporting period (continued) (iii) Franked dividends 2019 $'000 2018 $'000 Franking credits available for subsequent reporting periods based on a tax rate of 30% (2018: 30%) 19,677 29,799 The above amounts are calculated from the balance of the franking account as at the end of the reporting period, adjusted for: (a) franking credits that will arise from the payment of the amount of the provision for income tax; (b) franking debits that will arise from the payment of dividends recognised as a liability at the reporting date; and (c) franking credits that will arise from the receipt of dividends recognised as receivables at the reporting date. The impact on the franking account of the dividend recommended by the Directors since the end of the reporting period, but not recognised as a liability at the reporting date, will be a reduction in the franking account of $19,677,000 (2018: $5,061,000). (d) Recognition and measurement Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period. A provision for dividends is not recognised as a liability unless the dividends are declared, determined or publicly recommended on or before the reporting date. Independence Group NL 37 Notes to the consolidated financial statements 30 June 2019 (continued) 19 Dividends paid and proposed (continued) (b) Dividends not recognised at the end of the reporting period (continued) c Franked dividends 2019 $'000 2018 $'000 Franking credits available for subsequent reporting periods based on a tax rate of 30% (2018: 30%) 19,661 29,799 The above amounts are calculated from the balance of the franking account as at the end of the reporting period, adjusted for: (a) franking credits that will arise from the payment of the amount of the provision for income tax; (b) franking debits that will arise from the payment of dividends recognised as a liability at the reporting date; and c i i ill i receipt of dividends rec gnis d as receivables at the reporting date. The impact on the franking account of the dividend recommended by the Directors since the end of the reporting period, but not recognised as a liability at the reporting date, will be a reduction in the franking account of $19,648,000 (2018: $5,061,000). (d) Recognition and measurement Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period. A provision for dividends is not recognised as a liability unless the dividends are declared, determined or publicly recommended on or before the reporting date. Independence Group NL 30 IGO ANNUAL REPORT 2019 — 99