微信扫一扫
实时资讯全掌握
A property was bought for $600,000. It was revalued to $800,000 in the current financial year. Accumulated depreciation on the property to date is $220,000. The appropriate rate of company income tax to use is 30%. Which of the following options is correct if the company was not planning to sell the property in the future? A. A deferred tax provision would still be necessary to offset against the positive impact of the revaluation. B. A deferred tax provision would be necessary but based on the net book value of the asset. C. No provision would be necessary as there will be no future taxable gain, the amount would not need to be shown in the notes to the accounts. D. No provision would be necessary as there will be no future taxable gain, however the amount would need to be shown as unprovided in the accounts. |