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Question - The carrying amount of assets and liabilities and their corresponding tax bases as at 31 December 2018 and 3 December 2019 of Preve Bhd are as follows:
Year ended 31 December 2018
Carrying Amount RM'000
Tax Base RM'000
Property, Plant and Equipment
80,000
50,000
Trade receivable
56,000
Allowance for doubtful debt
(8,000)
0
Provision for retirement Benefits
(16,000)
112,000
106,000
Year ended 31 December 2019
90,000
44,000
62,000
(10,000)
(18,000)
124,000
Additional information:
a) Income tax for the year ended31 December 2018 and 3 December 2019 are 26% and 25% respectively.
b) There is no deferred tax brought forward for Preve Bhd on 1 January 2018.
Required - Calculate the amount of deferred tax charged in the statement of profit or loss and other comprehensive income?
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