For personal use only The above potential tax benefit for tax losses has not been recognised in the statement of financial position. These  tax losses can only be utilised in the future if the continuity of ownership test is passed, or failing that, the same  business test is passed. NOTE 8. INCOME TAX EXPENSE 30 June 2014 Notes to the Financial Statements Consolidated 30 June 2014 $’000 30 June 2013 $’000 Income tax expense Current tax 114,620  43,809  Deferred tax - origination and reversal of temporary differences (15,587) 26,883  Adjustment recognised for prior periods (2,417) (588) Aggregate income tax expense 96,616  70,104  Deferred tax included in income tax expense comprises: Decrease/(increase) in deferred tax assets (note 19) (3,762) 3,129  Increase/(decrease) in deferred tax liabilities (note 27) (11,825) 23,754  Deferred tax - origination and reversal of temporary differences (15,587) 26,883  Numerical reconciliation of income tax expense and tax at the statutory rate Profit before income tax expense 327,152  250,522  Tax at the statutory tax rate of 30% 98,146  75,157  Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Amortisation of intangibles 5,458  -  Non allowable expenses 3,018  270  Research and development concessions (8,457) (4,884) Employee share trust -  (587) 98,165  69,956  Adjustment recognised for prior periods (2,417) (588) Current year tax losses not recognised 868  736  Income tax expense 96,616  70,104  Consolidated 30 June 2014 $’000 30 June 2013 $’000 Amounts charged/(credited) directly to equity Deferred tax assets (note 19) (10) 863  Deferred tax liabilities (note 27) (180) (305) (190) 558  Tax losses not recognised Unused tax losses for which no deferred tax asset has been recognised 24,851  21,756  Potential tax benefit @ 30% 7,455  6,527  Notes to the  Financial  Statements Mineral Resources Limited Annual Report 2014  69