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30 URBAN DEVELOPMENT CORPORATION Notes to the Non-Consolidated Financial Statements (Continued) Year ended March 31, 2010

17.

Deferred taxation

Deferred tax liabilities Deferred tax assets Net position

2010 $’000

2009 $’000

1,026,895 ( 707,549)

524,621 (539,354)

319,346

( 14,733)

Deferred tax balances are attributable to temporary differences arising between financial statement and tax accounting. (a) Deferred tax liabilities:

2008 $’000 Revaluation of investment properties Revaluation surplus-Buildings Retirement benefit asset Interest receivable

Recognised in other Recognised in comprehensive profit or loss income $’000

2009 $’000

Recognised in other Recognised in comprehensive profit or loss income $’000 $’000

2010 $’000

295,080 100,954 85,253 4,983

107,459 ( 85,253) 2,295

13,850 -

402,539 114,804 7,278

270,479 153,846 ( 3,022)

80,971 -

673,018 195,775 153,846 4,256

486,270

24,501

13,850

524,621

421,303

80,971

1,026,895

2008 $’000

Recognised in profit or loss $’000

2009 $’000

408,344 12,734 143,404

( 28,014) 2,886 -

380,330 15,620 143,404

19,969 20,705 126,964 557

400,299 36,325 126,964 143,961

564,482

( 25,128)

539,354

168,195

707,549

(b) Deferred tax assets:

Depreciation charges in excess of capital allowances Accounts payable Tax losses Other

(c) Deferred tax is calculated on all temporary differences under the liability method using the enacted tax rate of 33!%.

Recognised in profit or loss 2010 $’000 $’000

Annreport09 10  
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