Reference no: EM133552168

Questions:

1. What is the amount of income tax expense included in the profit or loss for the year?
2. What is the amount of income tax payable or receivable in the balance sheet?
3. How much income tax was paid or received in cash in 2021?
4. What are the current and deferred tax components of income tax expense (see Note 8)?
5. Identify some of the permanent and temporary differences that represent the difference between income tax expense and income tax payable or receivable.
6. Has Airtasker recognised prior period tax losses as a deferred tax asset? How much would they have recognised and why was the amount calculated differently in 2020 and 2021?
7. In determining whether deferred tax assets relating to tax losses should be recognised, what factors are taken into consideration? What is the justification used by Airtasker for its treatment of tax losses?