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(1) Prima facie income tax on operating profit is calculated at the rate of 30 per cent (2013: 30 per cent). 

Revenue authorities undertake risk reviews and audits as part of their normal activities. 

During the current and prior years, Macquarie Group received amended assessments from the Australian Tax Office (ATO), which cover a range of items. A number of these matters have been resolved. 

In accordance with ATO practice, the Group has paid a portion of the primary tax and interest covered by these amended assessments and this amount has been included in these financial statements as part of tax receivables, pending resolution. 

Macquarie has considered its position with respect to the unresolved matters and other tax claims, including seeking advice, and considers that it holds appropriate provisions. 

