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Masterskill Education Group Berhad / Annual Report 2012<br />
87<br />
NOTES TO THE FINANCIAL STATEMENTS (CONT’D)<br />
11. DEFERRED TAx ASSETS/(lIABIlITIES)<br />
Recognised deferred tax assets/(liabilities)<br />
Deferred tax assets and liabilities are attributable to the following:<br />
Assets liabilities Net<br />
31.12.2012 31.12.2011 1.1.2011 31.12.2012 31.12.2011 1.1.2011 31.12.2012 31.12.2011 1.1.2011<br />
Rm’000 Rm’000 Rm’000 Rm’000 Rm’000 Rm’000 Rm’000 Rm’000 Rm’000<br />
Property, plant<br />
and equipment<br />
Unutilised<br />
investment tax<br />
– – – (10,282) (11,160) (12,057) (10,282) (11,160) (12,057)<br />
allowance<br />
Unabsorbed<br />
capital<br />
1,577 3,494 2,253 – – – 1,577 3,494 2,253<br />
allowance<br />
Unutilised tax<br />
8,475 – – – – – 8,475 – –<br />
losses<br />
Net tax assets/<br />
230 – – – – – 230 – –<br />
(liabilities) 10,282 3,494 2,253 (10,282) (11,160) (12,057) – (7,666) (9,804)<br />
unrecognised deferred tax assets<br />
Deferred tax assets have not been recognised in respect of the following item (stated as gross):<br />
31.12.2012 31.12.2011 1.1.2011<br />
Rm’000 Rm’000 Rm’000<br />
Unutilised investment tax allowances 24,310 –<br />
–<br />
Unutilised tax losses 655 237 –<br />
24,965 237 –<br />
The unutilised tax losses do not expire under current tax legislation.<br />
Deferred tax assets have not been recognised in respect of this item because it is not probable that sufficient taxable profit will<br />
be available against which the subsidiary can utilise the benefits there from.<br />
movement in temporary differences during the year<br />
Recognised At Recognised<br />
At in profit 31.12.2011/ in profit At<br />
1.1.2011 or loss 1.1.2012 or loss 31.12.2012<br />
Rm’000 Rm’000 Rm’000 Rm’000 Rm’000<br />
(Note 17) (Note 17)<br />
Property, plant and equipment (12,057) 897 (11,160) 878 (10,282)<br />
Unutilised investment tax allowance 2,253 1,241 3,494 (1,917) 1,577<br />
Unabsorbed capital allowance –<br />
–<br />
– 8,475 8,475<br />
Unutilised tax losses – – – 230 230<br />
(9,804) 2,138 (7,666) 7,666 –