For the year ended 30 June 2006
The company has decided to recognise the benefit of carried forward income tax losses incurred from the period since the company listed on the Australian Stock Exchange in April 2000. An additional deferred tax asset of $483,000 has been recognised on the basis that the company has recorded a taxable profit for financial years 2004-05 & 2005-06 and does not expect to incur operating losses in the future.
The company has not recognised the benefits of other potential carried forward income and capital losses as deferred tax assets pending the review of the status of unrecognised tax losses during the 2006-07 financial year.
Tax Consolidation
Aspermont and its wholly owned Australian subsidiaries are a tax consolidated group. As a consequence, as the head entity in the tax consolidated group, Aspermont will recognise current and deferred tax amounts relating to transactions, events and balances of the wholly owned Australian controlled entities in this group in future financial statements as if those transactions, events and balances were its own, in addition to the current and deferred tax balances arising in relation to its own transactions, events and balances.
The company has decided to recognise the benefit of carried forward income tax losses incurred from the period since the company listed on the Australian Stock Exchange in April 2000. An additional deferred tax asset of $483,000 has been recognised on the basis that the company has recorded a taxable profit for financial years 2004-05 & 2005-06 and does not expect to incur operating losses in the future.
The company has not recognised the benefits of other potential carried forward income and capital losses as deferred tax assets pending the review of the status of unrecognised tax losses during the 2006-07 financial year.
Tax Consolidation
Aspermont and its wholly owned Australian subsidiaries are a tax consolidated group. As a consequence, as the head entity in the tax consolidated group, Aspermont will recognise current and deferred tax amounts relating to transactions, events and balances of the wholly owned Australian controlled entities in this group in future financial statements as if those transactions, events and balances were its own, in addition to the current and deferred tax balances arising in relation to its own transactions, events and balances.