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S E C T I O N 1 2 : Our Financial Review

ALLIANCE ANNUAL REP ORT 2018

DEFERRED TA X Movement in temporary differences

Opening

Recognised

Recognised

Closing

during the year

balance

in income

in equity

balance

$000

$000

$000

30

-

$000

2017 Property, plant and equipment Inventories Employee benefits Other items Derivatives Tax loss carry forward

2018 Property, plant and equipment Inventories Employee benefits Other items Derivatives Tax loss carry forward

(472)

(442)

186 3,706 2,438 23 18,213

305 432 (765) (605)

55 -

491 4,138 1,673 78 17,608

24,094

(603)

55

23,546

(442) 491 4,138 1,673 78 17,608

(68) 57 (66) 500 (2,984)

(78) -

(510) 548 4,072 2,173 14,624

23,546

(2,561)

(78)

20,907

KEY JUDGEMENT: A deferred tax asset is recognised to the extent it is probable that future taxable profits will be available to use the asset. This is reviewed at each balance date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available in the future to utilise the asset. MEASUREMENT & RECOGNITION Deferred tax is income tax that is expected to be payable or recoverable in the future as a result of the unwinding of temporary differences. These arise from differences in the recognition of assets and liabilities for financial reporting and for the filing of income tax returns. Deferred tax is recognised on all temporary differences, other than those arising from goodwill and the initial recognition of assets and liabilities in a transaction (other than in a business combination) that affects neither the accounting nor taxable profit or loss. Deferred tax is calculated at the tax rates that are expected to apply to the year when a liability is settled or an asset realised, based on tax rates and tax laws that have been enacted or substantively enacted at balance date.

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Annual Report 2018  

Annual Report 2018