Korvelle leases a fleet of commercial vehicles. At the commencement date, it recognises a right-of-use asset of 260,000 and a lease liability of 260,000. The tax law (data) deducts only lease payments made, so both items have a nil tax base. Future taxable profit is probable. With a tax rate of 30%, which deferred taxes are recognised at the commencement date?
- Initial right-of-use asset
- 260,000
- Initial lease liability
- 260,000
- Tax rate (%)
- 30 %