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10. Receivables Payables and Provisions continued a Receivables continued Ageing analysis of assets The tables below summarise the ageing analysis of assets past due but not impaired and impaired assets as at 30 June. Consolidated As at 30 June 2015 Current not past due 000 Past due up to 60 days 000 Past due 60-90 days 000 Past due 90 days 000 Total 000 Trade receivables 97117 9368 1432 2849 110766 Provision for doubtful debts 663 663 Consolidated As at 30 June 2014 Current not past due 000 Past due up to 60 days 000 Past due 60-90 days 000 Past due 90 days 000 Total 000 Trade receivables 94103 8927 1880 3758 108668 Provision for doubtful debts 527 527 The Group has recognised expenses in respect of bad and doubtful trade receivables during the year ended 30 June 2015 of 719842 2014 expense of 709370. This provision is based on known bad debts and past experience for receipt of trade receivables. A provision for doubtful debts is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of the receivable. The amount of the provision is recognised in profit or loss. Where a debt is known to be uncollectible it is considered a bad debt and written off. Recognition and Measurement Trade Receivables Trade receivables are recognised at fair value being the original invoice amount and subsequently measured at amortised cost less provision for doubtful debts. Generally credit terms are for 30 days from date of invoice or 45 days for an accredited agency. Transferred Trade Receivables The carrying amounts of the trade receivables include receivables which are subject to a non-recourse securitisation arrangement. Under this arrangement the Group has transferred the relevant receivables to the securitisation vehicle in exchange for cash and is prevented from selling or pledging the receivables. Whilst legal ownership has been transferred to the securitisation vehicle the Group retains a portion of late payment and credit risk for the amounts yet to be received from the securitisation vehicle in respect of the securitised receivables. The Group therefore continues to recognise the transferred assets in their entirety in the balance sheet. The amount received under the securitisation arrangement is presented as current secured borrowings in the balance sheet. Consolidated 2015 000 2014 000 Current Carrying amount of transferred receivables included in trade receivables 47309 Carrying amount of associated secured borrowing included in secured borrowings 22161 b Current Liabilities Payables Consolidated 2015 000 2014 000 Trade creditors 8761 10154 GST payable 3809 4118 Accruals and other payables 68354 62373 Deferred income 7768 8442 88692 85087 53 SOUTHERN CROSS AUSTEREO ANNUAL REPORT 2015