DX depreciates all property, plant and equipment over five years using the straight line method and no residual value. All assets were less than five years old at 1 October 20X1. No assets were purchased or sold during the year ended 30 September 20X2.The local tax regime allows tax depreciation of 50% on additions to property, plant and equipment in the accounting period in which they are purchased. In subsequent accounting periods tax depreciation of 25% per year of the tax written down value is allowed. Income tax on profits is at a rate of 25%.What should be the amount for deferred tax in DX’s statement of financial position as at 30 September 20X2 in accordance with IAS 12 Income Taxes?
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