Financial Sector (Collection of Data) determination No. 47 of 2005
9. Deferred tax liabilities9. Deferred tax liabilities
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9. Deferred tax liabilities
Deferred tax liabilities means the amounts of income taxes to be settled in future reporting periods in respect of assessable temporary differences, determined in accordance with current Australian Accounting Standards and other mandatory professional reporting requirements.
Important!
For the purposes of quarterly reporting APRA is not mandating the superannuation entity to calculate the tax assets and liabilities every quarter, this will only be mandated for the annual reporting requirements. However superannuation entities should be considering the application and materiality of these obligations in determining the value of the superannuation entity and of member benefits, particularly for member rollovers and transfers during the period. Report the most recently calculated figure per the superannuation entity’s ledger at this item.