Notes to the financial statements (cont’d) 10 Income tax expense For the year ended 30 June 2012 page 86 Consolidated Parent 2012 2011 2012 2011 $’000 $’000 $’000 $’000 Current tax expense Current period 35,577  39,317  (1,114) 1  Adjustment for prior periods (754) (867) 6,746  (146) 34,823  38,450  5,632  (145) Deferred tax expense Origination and reversal of temporary differences (3,744) (529) 113 291  Adjustments recognised in the current year in relation to the deferred tax of  prior years (6,103) (396) (13,701) (190) Recognition of tax losses and deferred tax balances 62,689  - (31) - 52,842  (925) (13,619) 101  Total income tax expense from continuing operations 87,665  37,525  (7,987) (44) Income tax recognised in other comprehensive income Available-for-sale financial assets Before tax (65) 5,398  - - Tax (expense)/benefit 3,509  (1,866) - - Net of tax 3,444  3,532  - - Reconciliation of the prima facie income tax expense on pre-tax profit  with the income tax expense charged in the income statement Profit before income tax 104,060  151,926  85,458  131,284  Life statutory revenue (52,528) (85,260) - - Life statutory expenses 55,832  71,649  - - Shareholder profit before income tax 107, 36 4 138,315  85,458  131,284  Prima facie income tax at the Australian tax rate of 30% 32,209  41,495  25,637  39,385  Tax effect of amounts which are not deductible/ (taxable) in calculating  taxable income: Share of tax credits with benefit funds 1,418  1,520  - - Internal interest charge (84) (109) - - (Non assessable income)/Non-deductible expenses 6,382  2,352  (25,938) (38,974) Recognition of deferred taxes on intangible assets 62,689  - - - Unwind of deferred taxes on intangible assets (1,915) (2,966) - - Share of net profits of associates (2,454) (2,761) - - Assessable associate and subsidiary dividends 5,966  5,424  - - Imputation credits (6,280) (5,658) - - Other (3,409) (509) (731) (119) Under/(over) provided in prior periods (6,857) (1,263) (6,955) (336) 87,665  37,525  (7,987) (44)