Qantas 2015 Annual Report Download - page 69

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NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 30 JUNE 2015
68
QANTAS ANNUAL REPORT 2015
17. DEFERRED TAX ASSETS/(LIABILITIES) CONTINUED
Qantas Group
2014
$M
Opening
Balance
Recognised
in the
Consolidated
Income
Statement
Recognised
in Other
Comprehensive
Income
Closing
Balance
Reconciliations
Inventories (16) 1 – (15)
Property, plant and equipment and intangible assets (1,856) 708 –(1,14 8)
Payables 38 (13) –25
Revenue received in advance 639 35 –674
Interest-bearing liabilities (83) (2) –(85)
Other financial assets/liabilities (99) (32) 86 (45)
Provisions 335 14 –349
Other items (138) 5(46) (179)
Tax value of recognised tax losses 555 417 –972
Total deferred tax assets/(liabilities) (625) 1,133 40 548
Unrecognised Deferred Tax Assets
Deferred tax assets have not been recognised with respect to the following items:
Qantas Group
2015
$M
2014
$M
Tax losses – New Zealand operations 13 14
Tax losses – Singapore operations 31 25
Tax losses – Hong Kong operations 14 9
Total unrecognised deferred tax assets – tax losses 58 48
18. OTHER ASSETS
Qantas Group
2015
$M
2014
$M
CURRENT
Prepayments 109 104
Other 2 8
Total current other assets 111 112
NON-CURRENT
Net defined benefit asset (refer to Note 31) 285 233
Other 28 29
Total non-current other assets 313 262
19. PAYABLES
Qantas Group
2015
$M
2014
$M
Trade creditors 550 613
Other creditors and accruals 1,331 1,238
Total payables 1,881 1,851