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Weston operates in a country which only allows tax relief when contributions are paid into the scheme. The tax base was therefore zero at 31 January 20X5 and 31 January 20X6.
sir during the year contribution paid into the scheme were $19m(expense-cash outflow), so i wanted to understand why did this not give rise to deferred tax asset?
Don’t understand your question.
To calculate DT asset on pension, take the net DT obligation at the SFP date and multiply by the tax rate.