Financial statements
Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2024
Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2024
D5 Income tax Deferred tax assets and liabilities—THT
Asset
Liability
2024 2023 $M $M $M $M 2023 2024
The balance comprises temporary difference attributable to: Provisions
—
1
—
—
Derivatives and foreign exchange
165 165
165 166
(160) (160)
(161) (161)
Tax assets/(liabilities)
Set off of tax
(160)
(161)
160
161
Net tax assets/(liabilities)
5
5
—
—
Movements: Opening balance at 1 July
166
111
(161)
(141)
Credited/(charged) to profit and loss
—
6
(4)
(4)
(Charged)/credited to equity
(1)
54
5
(20)
Transfer from deferred tax assets/liabilities
— —
(5)
— —
5
Other
—
(1)
Closing balance at 30 June
165
166
(160)
(161)
Deferred tax assets/(liabilities) to be recovered/(paid) after more than 12 months
165
166
(160)
(161)
Deferred tax assets and liabilities—TIL
Asset
Liability
2024 2023 $M $M $M $M 2023 2024
The balance comprises temporary difference attributable to: Current and prior year losses
88
68 20
—
—
Fixed assets/intangibles
2 8
(1)
(3)
Derivatives and foreign exchange Equity accounted investments
8
—
—
—
— 10
(986)
(996)
Other
6
—
—
Tax assets/(liabilities)
104
106
(987)
(999)
Set off of tax
(78)
(73)
78
73
Net tax assets/(liabilities)
26
33
(909)
(926)
Movements: Opening balance at 1 July
106
130
(999)
(1,196)
(Charged)/credited to profit and loss
(6)
14
10 — — —
17 —
Charged to equity
— — — — —
(5)
Disposed through other comprehensive income 1
(52)
316
Acquired 1
—
(106)
Foreign exchange movements
2
6
(33)
Transfer from deferred tax assets/liabilities
(2)
—
2
Current year losses recognised/(prior year losses utilised) and under/(over) provision in prior years
4
19
(4)
1
Closing balance at 30 June
104
106
(987)
(999)
Deferred tax assets/(liabilities) to be recovered/(paid) after more than 12 months
104
106
(987)
(999)
1. Relates to the net impact of the sale of the Group's controlling interest in A25 and recognition of an equity accounted investment in A25 upon divestment of a 50% ownership interest in FY23 (refer to Note B21).
197 198
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