Annual Report - Campus Living Villages
Annual Report - Campus Living Villages
Annual Report - Campus Living Villages
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<strong>Campus</strong> <strong>Living</strong> <strong>Villages</strong> <strong>Annual</strong> <strong>Report</strong> 09/10 2 9<br />
<strong>Campus</strong> <strong>Living</strong> <strong>Villages</strong> Fund<br />
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br />
FOR THE YEAR ENDED 30 JUNE 2010<br />
A$’000<br />
c) Deferred taxation<br />
June 2010 June 2009<br />
Deferred taxation asset (952) (409)<br />
Deferred taxation liability 12,357 7,807<br />
Net deferred taxation liability 11,405 7,398<br />
FUND<br />
This balance comprises temporary differences attributed to:<br />
- Derivative financial instruments (5,716) (4,249)<br />
- Property, plant and equipment 25,989 19,161<br />
- Intangible assets 6,688 6,719<br />
- Provisions (306) (605)<br />
- Other (1,003) (212)<br />
25,652 20,814<br />
Deferred tax attributable to unused tax losses and tax credits (14,247) (13,416)<br />
Net deferred taxation liability 11,405 7,398<br />
The movement in the deferred tax balance for the year is:<br />
- Opening balance 7,398 21,612<br />
- Charge recorded in the income statement 3,601 (14,197)<br />
- Reclassification of tax receivable 440 -<br />
- Foreign currency translation movements (34) (17)<br />
Closing balance 11,405 7,398<br />
d) Unrecognised tax losses<br />
CLOT, as head entity of the Australian tax consolidated group from 1 July 2007, did not recognise a deferred tax asset for<br />
Australian tax losses incurred from 1 July 2007. The estimated tax losses of $65k will potentially recognise a deferred tax<br />
asset of $20k.<br />
<strong>Campus</strong> <strong>Living</strong> <strong>Villages</strong> UK Limited did not recognise a deferred tax asset for UK tax losses incurred from 1 July 2008 .<br />
The estimated tax losses of £1.155m will potentially recognise a deferred tax asset of £323k.<br />
CCHM Management Holdings Corporation did not recognise a deferred tax asset for US tax losses incurred from 9 January<br />
2007. The estimated tax losses of US$7.575m will potentially recognise a deferred tax asset of US$2.651m.<br />
CLLT (USA) did not recognise a deferred tax asset for Australian tax losses incurred from 1 July 2007. The estimated tax losses<br />
of $546k will potentially recognise a deferred tax asset of $164k.<br />
CLAT, as head entity of the Australian tax consolidated group from 1 July 2007, did not recognise a deferred tax asset for a<br />
proportion of Australian tax losses incurred from 1 July 2007. The estimated tax losses of $23.097m will potentially recognise<br />
a deferred tax asset of $6.929m.
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