CONSOLIDATED STATEMENT  OF FINANCIAL POSITION CONSOLIDATED STATEMENT  OF COMPREHENSIVE INCOME 2014  $’000 2013  $’000 2014  $’000 2013  $’000 4 INCOME TAX  (continued) (c) Deferred tax Deferred income tax at 30 June relates to the following: CONSOLIDATED Deferred tax liabilities Property, plant & equipment 31,540 30,230 (1,310) 692 Film distribution royalties 39,269 44,649 5,380 (6,805) Intangible assets 3,547 3,447 (100) 239 Other 1,161 2,229 1,068 2,820 Net-down with deferred tax assets (31,721) (32,211) – – Total deferred income tax liabilities 43,796 48,344 Deferred tax assets Post-employment benefits 7,662 6,994 668 703 Property, plant & equipment 13,050 13,295 (245) 1,239 Sundry creditors & accruals 2,929 2,880 49 423 Expenses deductible over more than one year 913 1,140 (227) 203 Provisions and unrealised foreign currency losses 3,313 3,918 (605) (6,687) Unearned income 1,182 1,742 (560) 408 Booked income tax losses & foreign tax credits – 370 (370) (1,626) Capitalised development costs 1,572 – 1,572 – Other 2,013 2,885 (872) (2,079) Net-down with deferred tax liabilities (31,721) (32,211) – – Total deferred income tax assets 913 1,013 Deferred income tax (expense) benefit 4,448 (10,470) 2014  $’000 2013  $’000 (d) The following deferred tax assets arising from tax losses  have not been brought to account as realisation of those  benefits is not probable: Benefits for capital losses 2,493 597 2014  $’000 2013  $’000 5 DIVIDENDS DECLARED¹ (a) Declared during the year Final dividend on ordinary shares of 13.0 cents per share fully-franked (2013: 10.0 cents per share unfranked)² 20,733 15,326 Distribution on ordinary shares of 13.0 cents per share fully-franked (2013: nil) 20,734 – Interim dividend on ordinary shares of 13.0 cents per share fully-franked  (2013: 13.0 cents per share fully-franked) 20,735 20,729 Special dividend on ordinary shares of 15.0 cents per share fully-franked (2013: nil) 23,925 – 86,127 36,055 (b) Declared subsequent to year-end³ Final dividend on ordinary shares of 14.0 cents per share fully-franked (2013: 13.0 cents per share fully-franked) 22,331 20,732 22,331 20,732 Village Roadshow Limited – Tax Consolidation contribution amounts Village Roadshow Limited – Tax Consolidation Effective from 1 July 2003, VRL and its relevant wholly-owned entities have formed a Tax Consolidated group. Members of the Tax Consolidated group have  executed a combined Tax Sharing and Tax Funding Agreement (“TSA”) in order to allocate income tax expense to the wholly-owned entities predominantly  on a stand-alone basis. In addition, the TSA provides for the allocation of income tax liabilities between the entities should the head entity default on its  income tax payment obligations to the Australian Taxation Office. At balance date, the possibility of default is remote. The head entity of the Tax  Consolidated group is VRL. VRL has formally notified the Australian Taxation Office of its adoption of the tax consolidation regime. In the year ended 30 June 2014, VRL recognised an increase in current tax liabilities of $34.8 million (2013: $29.1 million), and an increase in inter-company  receivables of $34.8 million (2013: $29.1 million) in relation to tax consolidation contribution amounts. 47 ANNUAL REPORT 2014 $^{3}$  The final dividends for the years ended 30 June 2014 and 30 June 2013, which were declared subsequent to year-end, were not accrued in the 30 June 2014 or  30 June 2013 accounts respectively. $^{2}$  The unfranked amount (100%) of the final dividend of 10.0 cents per share declared in the year ended 30 June 2013 represents conduit foreign income. $^{1}$  The tax rate at which paid dividends have been franked is 30% (2013: 30%). CLOSE FILE X