ANNUAL REPORT 2021-22
52
ANNUAL REPORT 2021-22
ANNUAL REPORT 2021-22
Reconciliations of the movement in carrying amounts at the beginning and end of the financial year are set out below:
Impairment losses were applied to the assets on a pro-rata basis in the following regions:
Land and
buildings
Plant and
equipment
Right of
Assets
under
Intangibles
use construction
Total
Darwin-Katherine Region
$'000
$'000
$'000
$'000
$'000
$'000
Alice Springs Region
2022
2021
$'000
$'000
1,327
(b)
RECONCILIATIONS
Net Carrying amounts
Opening balance at 1 July 2020
40,912
250,417
1,309
2,322
Adjustments
9
25
(1)
678
7,920
(31)
302,880
679
Tennant Creek Region
Yulara Region
Kings Canyon Region
Total
1,703
2,289
74
5,319
74
Additions
11
181
260
42,825
43,277
Capitalisation
1,421
18,219
(19,640)
Disposals
(415)
(29)
(444)
Impairment reversal
Nil impairment reversals have been applied.
Impairment of assets (Note 4c)
Depreciation expense (Note 4b)
Closing balance at 30 June 2021
(2,310)
40,043
(6)
(18,058)
250,362
(68)
(322)
(1,228)
986
2,002
31,006
(74)
(21,919)
324,399
2022
2021
11.
DEFERRED TAX ASSETS
$'000
$'000
Opening balance at 1 July 2021
40,043
250,362
986
2,002
31,006
324,399
Deferred tax asset comprises temporary differences attributable to:
Adjustments
(93)
93
Additions
292
185
46,867
47,344
Amounts recognised in profit and loss:
Capitalisation
258
841
287
(1,386)
Employee provisions
Disposals
(433)
(32)
(465)
Other provisions
Impairment of assets (Note 4c)
(495)
(2,460)
(2,364)
(5,319)
Depreciation expense (Note 4b)
(2,132)
Closing balance at 30 June 2022
37,674
(19,055)
229,454
(380)
(735)
(22,302)
985
1,420
74,123
343,656
Obsolete stock provision
Deferred grant income
Tax losses carried forward
Deferred tax assets
4,089
3,952
1,158
1,313
878
945
12,117
12,617
818
898
19,060
19,725
Assets
Land and
buildings
$'000
Plant and
equipment
$'000
Right of
under
Movements:
Intangibles
use
construction
Total
Opening deferred tax assets
19,725
23,099
$'000
$'000
$'000
$'000
Credited/(charged) to profit or loss
(665)
(3,374)
Net carrying amounts
Closing deferred tax assets
19,060
19,725
At 30 June 2021
40,043
At 30 June 2022
37,674
250,363
229,454
986
985
2,002
1,420
31,006
74,123
324,399
343,656
Impairment loss
Wholesale prices approved by the Shareholding Minister and the continuing loss of market share triggered the impairment of assets.
An additonal impairment loss of $5.3 million (2021: $0.1 million) was recognised as the carrying amounts of the assets exceeded their
recoverable amounts.
Deferred tax liabilities- refer Note 16
Net deferred tax assets
Unrecognised deferred tax assets
2,273
1,534
16,787
18,191
Deferred tax assets have not been recognised in respect of impairment losses, or on the reversal of previously impaired assets under
construction, because it is not probable that future taxable profit will be available against which the Corporation can utilise the benefits.
Impairment losses
30,439
29,912
30,439
29,912
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