232
PERENNIAL REAL ESTATE HOLDINGS LIMITED
Annual Report 2015
NOTES TO THE FINANCIAL STATEMENTS
17 DEFERRED TAX LIABILITIES
Recognised deferred tax liabilities
Movements in temporary differences during the year are as follows:
Acquisition Recognised
Balance Recognised Balance
during in profit
Balance
as at
in profit
as at the period
or loss Exchange
as at
1/7/2013
or loss 30/6/2014 (note 4)
(note 25) differences 31/12/2015
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Group
Investment properties
–
–
–
42,358 13,402
1,695 57,455
Undistributed profits of
joint venture
11
(11)
–
1,269
669
1
1,939
11
(11)
–
43,627 14,071
1,696 59,394
Unrecognised deferred tax assets
Deferred tax assets have not been recognised in respect of the following item:
Group
31/12/2015
30/6/2014
$’000
$’000
Tax losses
20,889
–
The tax losses with expiry dates are as follows:
Group
31/12/2015
30/6/2014
$’000
$’000
Within 5 years
10,978
–
The remaining tax losses do not expire under current tax legislation. Deferred tax assets have not been recognised in
respect of this item because it is not probable that future taxable profit will be available against which the Group can utilise
the benefits therefrom.
