Notes to the Financial Statements Year ended 31 December 2024 12 DEFERRED TAX Movements in deferred tax assets and liabilities are as follows: CapitaLand Ascott REIT Group At 1 January 2023 Credited/ (Charged) to Statement of Total Return (Note 29) Acquisition of subsidiary Translation differences At 31 December 2023 Credited/ (Charged) to Statement of Total Return (Note 29) Acquisition of subsidiary (Note 37) Reclassification to assets/ liabilities held for sale Translation differences At 31 December 2024 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Deferred tax assets Unutilised capital allowances 394 2 – 12 408 589 – – 1 998 Unutilised tax losses 6,238 233 – 186 6,657 4,501 – – (349) 10,809 Provisions and accruals 107 31 – – 138 (76) – – (3) 59 Unrealised foreign exchange loss – trade 3,999 (647) – 40 3,392 – – – (189) 3,203 Lease liabilities 84,187 (510) 678 (1,304) 83,051 (4,110) – (2,639) (557) 75,745 94,925 (891) 678 (1,066) 93,646 904 – (2,639) (1,097) 90,814 Set-off of tax (84,187) 510 (678) 1,304 (83,051) 4,110 – 2,639 557 (75,745) 10,738 (381) – 238 10,595 5,014 – – (540) 15,069 Deferred tax liabilities Investment properties (119,928) (32,856) – 252 (152,532) (5,583) – – 3,846 (154,269) Property, plant and equipment (143) – – (4) (147) – – – (2) (149) Revaluation gain from business combinations (1,288) – – – (1,288) – – – – (1,288) Accrued income and interest receivable (66) 28 – 3 (35) 7 – – 3 (25) Unremitted earnings – – – – – (8,396) – – 44 (8,352) Capital allowances in investment properties – – – – – – (2,764) – – (2,764) Right-of-use assets (84,187) 510 (678) 1,304 (83,051) 4,110 – 2,639 557 (75,745) (205,612) (32,318) (678) 1,555 (237,053) (9,862) (2,764) 2,639 4,448 (242,592) Set-off of tax 84,187 (510) 678 (1,304) 83,051 (4,110) – (2,639) (557) 75,745 (121,425) (32,828) – 251 (154,002) (13,972) (2,764) – 3,891 (166,847) Net deferred tax (liabilities)/assets (110,687) (33,209) – 489 (143,407) (8,958) (2,764) – 3,351 (151,778) 193 Annual Report 2024
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