Qantas 2016 Annual Report Download - page 72

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Notes to the Financial Statements continued
For the year ended 30 June 2016
13 DEFERRED TAX ASSETS CONTINUED
2015
$M
Opening
Balance
Recognised
in the
Consolidated
Income
Statement
Recognised
in Other
Comprehensive
Income
Closing
Balance
Reconciliations
Inventories (15) 1 – (14)
Property, plant and equipment and intangible assets (1,148) (247) –(1,395)
Payables 25 (2) –23
Revenue received in advance 674 25 –699
Interest-bearing liabilities (85) 14 –(71)
Other financial assets/liabilities (45) 49 21 25
Provisions 349 (41) – 308
Other items (179) 97 (15) (97)
Tax value of recognised tax losses 972 (117) –855
Total deferred tax assets/(liabilities) 548 (221) 6333
(B) QANTAS GROUP CARRIED FORWARD TAX LOSSES
2016
$M
2015
$M
Tax losses brought forward (2,850) (3,240)
Current year taxable income 1,376 390
Tax loss carried forward (1,474) (2,850)
(C) UNRECOGNISED DEFERRED TAX ASSETS
Deferred tax assets have not been recognised with respect to the following items:
2016
$M
2015
$M
Tax losses – New Zealand 16 13
Tax losses – Singapore 24 31
Tax losses – Hong Kong 14 14
Total unrecognised deferred tax assets 54 58
14 REVENUE RECEIVED IN ADVANCE
2016
$M
2015
$M
Current Non-current Total Current Non-current Total
Unavailed passenger revenue 2,522 –2,522 2,612 –2,612
Unredeemed Frequent Flyer revenue 877 1,367 2,244 879 1,305 2,184
Other revenue received in advance 126 154 280 93 54 147
Total revenue received in advance 3,525 1,521 5,046 3,584 1,359 4,943
70
QANTAS ANNUAL REPORT 2016