Qantas 2009 Annual Report Download - page 118

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116 Qantas Annual Report 2009
Notes to the Financial Statements
for the year ended 30 June 2009
18. Deferred Tax Assets and Liabilities
Unrecognised deferred tax assets
Deferred tax assets have not been recognised with respect to the following items because it is not probable that future taxable profit will be available
against which the Qantas Group can utilise these benefits:
Qantas Group Qantas
2009 2008 2009 2008
$M $M $M $M
Tax losses – New Zealand operations 16 15 10 8
At 30 June 2009, there is no recognised or unrecognised deferred tax liability for taxes that would be payable on the unremitted earnings of certain of the
Qantas Group’s controlled entities or associates and jointly controlled entities (2008: nil).
Movement in temporary differences during the year
QANTAS GROUP
2009
$M
Inventories (52) 17 – – (35)
Property, plant and equipment (1,384) 60 – – (1,324)
Intangible assets (3) (16) – (23) (42)
Payables 99 (17) – – 82
Revenue received in advance 642 34 – – 676
Interest-bearing liabilities (145) (83) – – (228)
Other financial assets/liabilities (11) (119) 189 – 59
Provisions 229 36 – – 265
Other items (135) 73 – – (62)
Tax value of loss carry-forwards recognised 3 (1) – – 2
(757) (16) 189 (23) (607)
2008
Inventories (50) (2) – – (52)
Property, plant and equipment (1,341) (43) – – (1,384)
Intangible assets (5) 2 – – (3)
Payables 106 (7) – – 99
Revenue received in advance 643 (1) – – 642
Interest-bearing liabilities (42) (109) 6 – (145)
Other financial assets/liabilities 89 35 (135) – (11)
Provisions 238 (9) – – 229
Other items (80) (55) – – (135)
Tax value of loss carry-forwards recognised 5 (2) – – 3
(437) (191) (129) – (757)
Opening Balance
Recognised in the
Income Statement
Recognised in Equity
Acquisitions of
Controlled Entities
Closing Balance