Page 20 - Directors' report and accounts 2019-20

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Notes to and forming part of the Consolidated Financial Statements for the year ended 30 June 2020
A3 Franchise Owner Support and Services
The deficit realised on franchise owner services in the period are:
2020
2019 $ $ $ $ 335 183 560 357 (2 092 008) (3 172 529) Deficit (1 756 825) (2 612 172)
A4 Taxation
The income income tax tax tax expense for the the the the period period is the the the the tax tax tax payable on on the the the the current period's taxable income income based on on the the the the national income tax tax rate for each jurisdiction adjusted by changes in in deferred tax tax assets and liabilities attributable to temporary differences between the the the tax base of assets and and liabilities and and their carrying amounts in in in the the the financial statements and to unused tax losses Deferred tax assets and liabilities are recognised for all temporary differences between carrying amounts of assets and and liabilities for financial reporting purposes and and their respective tax tax bases at at the the tax tax rates expected to apply when the assets are are recovered or or liabilities settled based on those tax rates which are are enacted or or substantively enacted for for each jurisdiction Exceptions are made for for certain temporary differences arising on on on initial recognition of an an an asset or a a a a a a a a a a a a a liability if they arose in in in a a a a a a a a a a a a a transaction other than a a a a a a a a a a a a a business combination that at at at the the the time of of of the the transaction did not affect either accounting profit profit or taxable profit profit Independent Purchasing Company (Australasia) Limited and its wholly-owned Australian subsidiary has has implemented the the the tax consolidation legislation for the the the whole of the the the financial year Independent Purchasing Company (Australasia) Limited is the the head entity in the the tax tax tax consolidated group The stand-alone taxpayer/separate taxpayer taxpayer within a a a a a a a a a a a group approach has been used to to allocate current income tax tax expense and deferred tax tax balances to to wholly-owned subsidiaries that form part of the tax consolidated group Independent Purchasing Company (Australasia) Limited has assumed all the the current tax tax liabilities for the the tax tax consolidated group via intercompany receivables and payables because a a a a a a a a a a a a a a tax funding arrangement has been in in in place for the whole financial year Consolidated Rendering of services income Franchise owner support and services expense Note A1