98
Cordlife Group Limited
Annual Report 2016
Notes to
The Financial Statements
for the financial year ended 30 June 2016
30. Deferred tax assets/liabilities
Group
Company
Consolidated
Consolidated
statement of
statement of
comprehensive
Statement of
financial position
income
financial position
2016
2015
2016
2015
2016
2015
$’000
$’000
$’000
$’000
$’000
$’000
Deferred tax liabilities
Differences in depreciation for
tax purposes
169
127
(39)
(121)
105
105
Unrealised share of other income
from associate
(29)
(36)
(7)
18
–
–
Under provision in respect of
previous years
–
–
–
6
–
–
Fair value adjustment on acquisition
of subsidiary
3,933
–
–
–
–
–
4,073
91
105
105
Deferred tax asset
Unutilised tax losses
220
–
220
–
220
–
220
–
220
–
Deferred tax expense
174
(97)
Unrecognised tax losses
At the end of the reporting period, the Group has tax losses of approximately $2,440,000 (2015: $7,084,000)
that are available for offset against future taxable profits of the subsidiaries in which the losses arose, for
which no deferred tax asset is recognised due to uncertainty of its recoverability. The use of these tax losses is
subject to the agreement of the tax authorities and compliance with certain provisions of the tax legislation of
the respective countries in which the companies operate.
Unrecognised temporary differences relating to investments in subsidiaries
At the end of the reporting period, there are no unrecognised temporary differences (2015: $Nil) relating to
investments in subsidiaries.
Tax consequences of proposed dividends
There are no income tax consequences (2015: $Nil) attached to the dividends to the shareholders proposed by
the Company but not recognised as a liability in the financial statements (Note 41).
