Question：Menis has an accounting year end of 31 December.
Which of the following transactions and events require recognition of a liability per IAS 12 at 31 December 20X2?
A - The company acquired computer equipment costing $60,000 during the year. This is being depreciated on a straight line basis over four years. Capital allowances of 100% are available.
B - On 1 January 20X2 Menis borrowed $50,000 to finance the construction of a new warehouse. The construction project is due to be completed in July 20X3. The loan bears interest at 10% per annum, payable in arrears. The company has capitalised the interest incurred as part of the asset in the year as is permitted by IAS 23.
C - The company has incurred $20,000 entertaining clients.
D - The company's head office was revalued by increasing its value by $300,000. There are no plans to dispose of this property.
A. B and D.
B. A, B and C.
C. A and D.
D. A, B, and D.
The correct answer is:A, B and D.
解析：A - The excess of capital allowances over depreciation to date is a timing difference of $45,000 (NBV $45000 - TWDV ?0 = $45,000 timing difference).
The deferred tax provision on this at, say 30%, would be $45,000 x 30% = $13,500.
B - The interest that has been capitalised on the statement of financial position ($50,000 x 10% = $5,000) would have been allowed as incurred for tax purposes. Deferred tax would have to be recognised on this amount (say 30% x $5,000 = $1,500).
C - This is a permanent difference. It is included in the income statement but never in the profit per tax authorities.
D - IAS 12 requires full provision of deferred tax liabilities on all temporary differences, even if the company does not expect a tax payment to be generated.
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