RFG Annual Report 2007 - Retail Food Group

9. Income taxes (continued)
Deferred tax balances
Deferred tax assets/(liabilities) arise from the following:
2007
Opening
balance
$’000
Charged to
income
$’000
Consolidated
Charged to
equity
$’000
Closing
balance
$’000
Temporary differences
Property, plant and equipment—CMF Facility – (137) – (137)
Intangible assets (376) – – (376)
Employee benefi ts 78 79 – 157
Provisions 17 19 – 36
Doubtful debts 34 (34) – –
Prepaid borrowing costs 75 (26) – 50
Listing costs 534 (135) 5 404
362 (234) 5 134
Unused tax losses and credits:
Benefi t of tax losses acquired (NZ operations) – 33 – 33
– 33 – 33
362 (201) 5 167
Presented in the balance sheet as follows:
Deferred tax asset attributable to:
Continuing operations 167
Discontinued operations –
167
41
Retail Food Group Annual Report
2006
Temporary differences
Intangible assets (376) – – (376)
Employee benefi ts 48 30 – 78
Provisions 13 4 – 17
Doubtful debts – 34 – 34
Prepaid borrowing costs 68 7 – 75
Listing costs – (134) 668 534
(247) (59) 668 362
Presented in the balance sheet as follows:
Deferred tax asset 362