Straco Corporation Limited • Annual Report 2014
64
NOTES TO THE FINANCIAL STATEMENTS
8
Intangible assets and goodwill (cont’d)
The values assigned to the key assumptions represent management’s assessment of future industry trends and are based on both external and internal
sources and both past performance (historical data) and its expectations for market development.
Management believes that any reasonably possible changes in the above key assumptions applied are not likely to materially cause the recoverable
amount to be lower than its carrying amount.
9
Deferred tax liabilities
Movements in deferred tax liabilities of the Group during the year are as follows:
At
1 Jan 2013
Recognised
in profit or loss
(note 21)
At
31 Dec 2013
Arising from
acquisition
through business
combination
Recognised
in profit or loss
(note 21)
At
31 Dec 2014
Group
$
$
$
$
$
$
Deferred tax liabilities
Investment property &
non-qualifying assets
–
–
–
(8,625,779)
–
(8,625,779)
Intangible assets
–
–
–
(554,557)
–
(554,557)
Property, plant and equipment
(190,880)
–
(190,880)
–
–
(190,880)
Withholding tax on
undistributed profits
(1,928,711)
269,859
(1,658,852)
–
(2,030,397)
(3,689,249)
Total
(2,119,591)
269,859
(1,849,732)
(9,180,336)
(2,030,397)
(13,060,465)
At 31 December, the following temporary differences have not been recognised:
Group
Company
2014
2013
2014
2013
$
$
$
$
Deductible/(taxable) temporary differences
866,253
857,366
–
–
Unutilised tax losses
2,692,627
3,891,134
–
–
3,558,880
4,748,500
–
–
