Qantas 2010 Annual Report Download - page 75

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73 ANNUAL REPORT 2010
for the year ended 30 June 2010
Notes to the Financial Statements continued
Qantas Group
2010
$M
2009
$M
Deferred tax liabilities 715 607
Total deferred tax liabilities 715 607
Qantas Group
2010
$M
Opening
Balance
Recognised in
the
Consolidated
Income
Statement
Recognised
in Other
Comprehensive
Income
Acquisitions of
Controlled
Entities
Closing
Balance
Reconciliations
Inventories (35) 23 – – (12)
Property, plant and equipment and intangible assets (1,366) (166) – – (1,532)
Payables 82 (35) – – 47
Revenue received in advance 676 (55) – – 621
Interest-bearing liabilities (228) 209 – – (19)
Other  nancial assets/liabilities 59 (163) (46) – (150)
Provisions 265 (14) – – 251
Other items (62) (116) – – (178)
Tax value of recognised tax losses 2 255 – – 257
Total deferred tax liabilities (607) (62) (46) – (715)
2009
$M
Reconciliations
Inventories (52) 17 – – (35)
Property, plant and equipment and intangible assets (1,387) 44 – (23) (1,366)
Payables 99 (17) – – 82
Revenue received in advance 642 34 – – 676
Interest-bearing liabilities (145) (83) – – (228)
Other  nancial assets/liabilities (11) (119) 189 – 59
Provisions 229 36 – – 265
Other items (135) 73 – – (62)
Tax value of recognised tax losses 3 (1) – – 2
Total deferred tax liabilities (757) (16) 189 (23) (607)
At 30 June 2010, there is no recognised or unrecognised deferred tax liability for taxes that would be payable on the unremitted earnings of the
Qantas Group’s controlled entities, associates and jointly controlled entities (2009: nil).
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 pro t will be available
against which the Qantas Group can utilise these bene ts:
Qantas Group
2010
$M
2009
$M
Tax losses – New Zealand operations 15 16
Tax losses – Singapore operations 25 –
Total unrecognised deferred tax assets – tax losses 40 16
18. Deferred Tax Assets and Liabilities