Webthe company recognises a deferred tax asset. 1 The tax base of an asset is the amount that will be deductible for tax purposes; the tax base of a liability is its carrying amount, less … WebAll of the following would result to deferred tax asset, except. a. Tax base for a machine is greater than the carrying amount. b. Development costs shave been capitalized and …

Deferred Tax and Effective Tax Rate Reconciliation

WebAtomic weight definitions can range from greater than sodium (atomic weight 22.98); greater than 40 (excluding s-and f-block metals, hence starting with scandium); or more than 200, i.e. from mercury onwards. Atomic numbers of heavy metals are generally given as greater than 20 ; sometimes this is capped at 92 . WebThe carrying value is simply the amount at which an item is reported on the corporation’s balance sheet. The tax basis is the amount relating to that asset or liability that would … gstattlhof braies

3 the carrying amount of a liability is greater than - Course Hero

Webcarrying amount of a liability is less than its tax base, because the future settlement of its tax base will generate taxable profit (e.g. a loan initially recognised at fair value net of … WebApr 22, 2024 · When the carrying value of liability is greater than to tax base or the carrying value of an asset is less than its tax base, a deferred tax asset may arise. ... (i.e., the economic benefits are not taxable). Therefore, no deferred tax liability is recognised as the tax base is equal to the carrying amount of the asset. Note 4: ... WebDec 5, 2024 · Notional, i.e. with the assumption that carrying value of CGU and its tax base are equal on day 1. (2) Capital expenditures: Strictly speaking, ... As the carrying amount of CGU is higher than its recoverable amount by $740, the CGU is impaired and an impairment loss of $740 is recognised in P&L. gst audit threshold