Notes to the Financial Statements for the Financial Year Ended 30 September 2024 Sustaining Lives, Empowering Communities Governance That Inspires Confidence Financial Insights Through Numbers Empowering Ownership PG. 191 3. MATERIAL ACCOUNTING POLICY INFORMATION (CONT’D) (g) Leases (Cont’d) (i) The Group as lessee (Cont’d) (b) Subsequent measurement The right-of-use asset is subsequently measured at cost, less accumulated depreciation and impairment loss (if any) in accordance with MFRS 136. The rightof-use asset is depreciated on a straight-line basis over the asset’s remaining useful life. (ii) The Group as lessor Leases in which the Group do not transfer substantially all the risk and benefits of ownership of an asset are classified as operating assets. Initial direct cost incurred in negotiating an operating lease are added to the carrying amount of the leased assets and recognised over the lease term. Determination of lease term In determining the lease term upon the lease commencement, the Group considers all facts and circumstances that create an economic incentive to exercise or not to exercise a termination option. (h) Taxes Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax is measured at tax rates that are expected to apply in the period when the asset is realised or the liability is settled, based on tax rates that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in profit or loss, except when it arises from a transaction which is recognised directly in equity, in which case the deferred tax is also charged or credited directly in equity. For the purposes of measuring deferred tax liabilities and deferred tax assets for investment properties that are measured using the fair value model, the carrying amounts of such properties are presumed to be recovered entirely through sale, unless the presumption is rebutted. The presumption is rebutted when the investment property is depreciable and is held within a business model whose objective is to consume substantially all of the economic benefits embodied in the investment property over time, rather than through sale. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient future taxable profits will be available to allow all or part of the asset to be recovered.
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