The haulier Lirvalle uses declining-balance tax depreciation on its truck fleet: at the reporting date, the fleet has a carrying amount of 780,000 and a tax base of 540,000. With an expected rate of 30% (enacted at the reporting date), what are the temporary difference and the deferred tax liability?
- Carrying amount of the fleet
- 780,000
- Tax base of the fleet
- 540,000
- Rate expected on reversal (%)
- 30 %