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Deferred Tax ex 1

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Deferred Tax ex 1

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by P2-D2.
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  • July 22, 2018 at 2:18 pm #464232
    richardscully
    Member
    • Topics: 197
    • Replies: 145
    • ☆☆☆

    Am i correct in saying the sixth year the tax base and the Cv are both 30000 and the deferred tax movement is to pay back the last 2881?

    July 28, 2018 at 11:55 am #465018
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7171
    • ☆☆☆☆☆

    Hi,

    If the business has not disposed of the asset and the tax base and carrying value are identical, then there is no deferred tax balance and so any deferred tax balance is reversed out to profit and loss. There is no payment as such as deferred tax is just an accounting entry.

    Thanks

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