Ann: FY18 Half Year Results Announcement Date, page-195

Hi GazM,

Welcome to the forum. The fine print of the report backs up Macherry's statement about GST being "grossed up" on the cashflow statement. Here's the relevant section:

So on that basis here's my back-of-the-envelope calculation of how P/L expenses match up with cashflow expenses:

	Column 1	Column 2	Column 3	Column 4	Column 5
0		2017	2016	2015	2014
1	P/L Employee benefits expense	- 82,137	- 77,262	- 68,892	- 52,970
2	P/L Other expense	- 48,027	- 48,310	- 37,005	- 28,336
3	Total P/L expense	- 130,164	- 125,572	- 105,897	- 81,306
4	Estimated P/L Expense Grossed Up to inc GST	- 143,180	- 138,129	- 116,487	- 89,437
5
6	Cash Payments to suppliers and employees	- 142,975	- 134,122	- 121,644	- 91,130
7
8	Difference b/w cashflow and Grossed up P/L	- 205	- 4,007	5,157	1,693

There's still a significant difference in some years. These may be partly accounted for by timing differences but it looks like there is something else going on. It might be possible that GST isn't applicable to all of the 'other expenses'.