Annual Report (Complete) - MYCRON Steel Berhad
Annual Report (Complete) - MYCRON Steel Berhad
Annual Report (Complete) - MYCRON Steel Berhad
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Notes to the Financial Statements 30 June 2010<br />
(continued)<br />
17. DEFERRED TAX<br />
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current<br />
tax liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate<br />
offsetting, are shown in the balance sheet:<br />
Group<br />
Company<br />
2010<br />
RM<br />
2009<br />
RM<br />
2010<br />
RM<br />
2009<br />
RM<br />
Deferred tax assets<br />
Deferred tax liabilities<br />
40,996,508<br />
(43,226,217)<br />
3,922,352<br />
(5,729)<br />
-<br />
(4,479)<br />
-<br />
(5,729)<br />
(2,229,709)<br />
3,916,623<br />
(4,479)<br />
(5,729)<br />
At start of financial year<br />
3,916,622<br />
(7,617,902)<br />
(5,729)<br />
(6,979)<br />
Charged to income statement (Note 11):<br />
- property, plant and equipment<br />
- unabsorbed capital allowances<br />
- unutilised tax losses<br />
- other liabilities<br />
- reinvestment allowance<br />
(4,547,249)<br />
(1,301,854)<br />
(817,167)<br />
(146,905)<br />
552,691<br />
(3,428,220)<br />
8,733,258<br />
7,213,564<br />
218,952<br />
(1,203,029)<br />
1,250<br />
-<br />
-<br />
-<br />
-<br />
1,250<br />
-<br />
-<br />
-<br />
-<br />
(6,260,484)<br />
11,534,525<br />
1,250<br />
1,250<br />
Credited to assets revaluation reserve:<br />
- property, plant and equipment<br />
114,153<br />
-<br />
-<br />
-<br />
At end of financial year<br />
(2,229,709)<br />
3,916,623<br />
(4,479)<br />
(5,729)<br />
Subject to income tax:<br />
Deferred tax assets (before offsetting):<br />
Unabsorbed capital allowances<br />
Other liabilities<br />
Unutilised tax losses<br />
Unutilised reinvestment allowance<br />
14,697,553<br />
72,047<br />
6,396,397<br />
19,830,511<br />
15,999,408<br />
218,952<br />
7,213,564<br />
19,277,820<br />
-<br />
-<br />
-<br />
-<br />
-<br />
-<br />
-<br />
-<br />
Offsetting<br />
40,996,508<br />
(40,996,508)<br />
42,709,744<br />
(38,787,392)<br />
-<br />
-<br />
-<br />
-<br />
Deferred tax assets (after offsetting)<br />
-<br />
3,922,352<br />
-<br />
-<br />
Deferred tax liabilities (before offsetting)<br />
Property, plant and equipment<br />
Offsetting<br />
(43,226,217)<br />
40,996,508<br />
(38,793,121)<br />
38,787,392<br />
(4,479)<br />
-<br />
(5,729)<br />
-<br />
Deferred tax liabilities (after offsetting)<br />
(2,229,709)<br />
(5,729)<br />
(4,479)<br />
(5,729)<br />
pg 73 | Mycron <strong>Steel</strong> <strong>Berhad</strong>