Straco Corporation Limited • Annual Report 2014
78
NOTES TO THE FINANCIAL STATEMENTS
20
Key management personnel compensation
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity,
directly or indirectly, including any director (whether executive or otherwise) of the group.
Key management personnel compensation for the year is as follows:
Group
2014
2013
$
$
Wages and salaries
1,542,753
1,638,345
Bonuses and variable compensation
1,098,444
1,087,464
Directors’ fees
358,500
279,500
Share option expenses
1,059,542
396,266
4,059,239
3,401,575
Directors also participate in the Scheme. The share options granted are on the same terms and conditions as those offered to other employees of the
Company as described in note 14. During the year, 3,640,000 share options (2013: 3,310,000) with total fair value of $830,284 (2013: $264,800)
were granted to the directors of the Company.
21
Tax expense
Group
2014
2013
$
$
Current tax
- current year
16,261,521
13,072,111
- underprovision in prior years
30,223
68,915
- withholding tax on profits distributed during the year
66,095
2,004,365
16,357,839
15,145,391
Deferred tax
- provision for withholding tax on current year undistributed profits
2,094,169
1,658,852
- reversal of deferred tax recognised on profits distributed during the year
(63,772)
(1,928,711)
2,030,397
(269,859)
Total income tax expense
18,388,236
14,875,532
