My first Publication ocbc_ar17_fullreport_english | Page 195

20. DEFERRED TAX (continued)
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against
current tax liabilities and when the deferred income taxes relate to the same fiscal authority.
The deferred tax assets and liabilities are to be recovered and settled after one year and the following amounts, determined after
appropriate offsetting, are shown in the balance sheets:
GROUP
2017
$’000
Deferred tax liabilities
Accelerated tax depreciation
Unrealised gain on available-for-sale financial assets
Fair value of depreciable assets acquired in business combination
Provision for policy liabilities
Others
Amount offset against deferred tax assets
Deferred tax assets
Allowances for assets
Tax losses
Others
Amount offset against deferred tax liabilities
Net deferred tax liabilities/(assets)
BANK
2016
$’000
2017
$’000
2016
$’000
96,254
320,378
175,693
1,011,550
135,539
1,739,414
(157,395)
1,582,019 90,461
176,058
187,085
833,324
143,965
1,430,893
(106,286)
1,324,607 59,460
1,271
48,561
–
11,333
120,625
(66,461)
54,164 55,907
3,240
50,720
–
5,634
115,501
(64,390)
51,111
(176,248)
(13,378)
(141,539)
(331,165)
157,395
(173,770) (201,041)
(13,360)
(87,973)
(302,374)
106,286
(196,088) (97,220)
(13,378)
(20,489)
(131,087)
66,461
(64,626) (97,415)
(12,459)
(18,796)
(128,670)
64,390
(64,280)
1,128,519 (10,462) (13,169)
1,408,249
Deferred income tax assets are recognised for tax losses carried forward only to the extent that realisation of the related tax benefit
through future taxable profits is probable. At 31 December 2017, unutilised tax losses carried forward for which no deferred income tax
has been recognised amounted to $53.9 million (2016: $67.7 million) for the Group, $8.4 million (2016: $12.1 million) for the Bank.
21. DEBT ISSUED
GROUP
Subordinated debt (unsecured) [Note 21.1]
Fixed and floating rate notes (unsecured) [Note 21.2]
Commercial papers (unsecured) [Note 21.3]
Structured notes (unsecured) [Note 21.4]
Covered bonds (secured) [Note 21.5]
BANK
2017
$’000 2016
$’000 2017
$’000 2016
$’000
4,556,224
3,424,298
21,380,796
1,289,133
1,584,295
32,234,746 6,503,170
3,564,849
8,572,419
1,306,941
–
19,947,379 5,524,342
2,815,586
21,285,101
1,289,133
1,584,295
32,498,457 6,604,073
3,135,696
8,484,813
1,306,941
–
19,531,523
BUILDING ON OUR CORPORATE STRATEGY FOR SUSTAINABLE GROWTH
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