FRASERS HOSPITALITY TRUST ANNUAL REPORT 2015
163
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 20 JUNE 2014 (DATE OF CONSTITUTION) TO 30 SEPTEMBER 2015
9.
TAXATION (CONT’D)
Relationship between tax expense and accounting profit
A reconciliation between tax expense and the product of accounting profit multiplied by the applicable corporate
tax rate for the financial period ended 30 September 2015 is as follows:
FHT FH-REIT Group
FH-BT
20 Jun 2014 to
30 Sep 2015
20 Jun 2014 to
30 Sep 2015
20 Jun 2014 to
30 Sep 2015
$’000
$’000
$’000
Total Return for the period before tax
153,453
153,455
(2)
Tax at the domestic rates applicable to profits in the
countries where the Stapled Group operates
38,739
38,739
–*
Adjustments:
Expenses not deductible for tax purposes
7,289
7,289
–
Income not subject to tax
(32,479)
(32,479)
–
Tax transparency
(4,563)
(4,563)
–
Deferred tax assets not recognised
7,654
7,654
–
Withholding tax
1,323
1,323
–
Others
23
23
–
17,986
17,986
–
* Denotes amount less than $1,000.
The above reconciliation is prepared by aggregating separate reconciliations for each national jurisdiction.
Deferred tax liabilities
Deferred tax liabilities as at 30 September 2015 are shown on the Statements of Financial Position as follows:
FHT FH-REIT Group
FH-BT
20 Jun 2014 to
30 Sep 2015
20 Jun 2014 to
30 Sep 2015
20 Jun 2014 to
30 Sep 2015
$’000
$’000
$’000
Deferred tax liabilities (non-current):
Arising from acquisition of subsidiaries
4,301
4,301
Fair value gain on investment properties
11,698
11,698
–
Others
13
13
–
16,012
16,012
–
