154 | CapitaLand Limited Annual Report 2014
Appendix
Notes to the Financial Statements
Year ended 31 December 2014
9
DEFERRED TAX
The movements in the deferred tax assets and liabilities (prior to offsetting of balances within the same tax
jurisdiction) were as follows
At 1/1/2014
as restated
$’000
Recognised
LQ SURÀW
or loss
$’000
Acquisition
of
subsidiaries
$’000
Translation
differences
$’000
At
31/12/2014
$’000
The Group
Deferred tax liabilities
Accelerated tax depreciation
32,894
6,440
–
178
39,512
Discounts on compound
mnancial instruments
27,063
(6,946)
–
–
20,117
Accrued income and interest
receivable
24,130
(18,456)
31
(53)
5,652
Promts recognised on percentage
of completion and fair value
adjustments on initial recognition
of development properties for sale
330,390
(5,636)
–
11,635
336,389
Fair value adjustments arising
from a business combination
19,925
–
–
(75)
19,850
Fair value changes of
investment properties
225,503
32,704
–
313
258,520
Unremitted earnings
15,961
8,338
649
–
24,948
Others
15,003
20,444
133
119
35,699
Total
690,869
36,888
813
12,117
740,687
Deferred tax assets
Unutilised tax losses
(11,028)
2,032
–
119
(8,877)
Provisions and expenses
(41,268)
8,068
–
(572)
(33,772)
Fair value adjustments on initial
recognition of development
properties for sale
(14,489)
–
–
–
(14,489)
Others
(22,244)
(13,264)
–
(574)
(36,082)
Total
(89,029)
(3,164)
–
(1,027)
(93,220)
