Raffles Insitutep Xpo - Raffles Medical Group

RAFFLES MEDICAL GROUP
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NOTES TO THE FINANCIAL STATEMENTS (CONT’D)
8 Deferred Tax (cont’d)
Charged/
(credited) At 31
At 1 January to profit and December
2004 loss account 2004
Company $’000 $’000 $’000
Deferred tax liabilities
Property, plant and equipment 356 (88) 268
Deferred tax assets
Other items (243) 150 (93)
Deferred tax liabilities and assets are offset when there is a legally enforceable right to set off current tax assets against
current tax liabilities and when the deferred taxes relate to the same taxation authority. The amounts determined after
appropriate offsetting are included in the balance sheet as follows:
Group
Company
2004 2003 2004 2003
$’000 $’000 $’000 $’000
Deferred tax liabilities 712 767 175 113
Deferred tax assets (1,004) (1,806) – –
The following temporary differences have not been recognised:
(292) (1,039) 175 113
Group
2004 2003
$’000 $’000
Tax losses 1,015 3,103
Deferred tax assets have not been recognised in respect of these items because it is not probable that future taxable profits
will be available against which the Group can utilise the benefits.