1. Can deferred tax assets be offset against deferred tax liabilities?

2. A company has interest receivable with a carrying amount of $400 000. The related revenue will be taxed by the ATO when the amounts are actually received.

(a) Assuming that the tax rate is 30 per cent, what is the amount of the temporary difference?(b) Does this give rise to a deferred tax asset or a deferred tax liability a nd what is the a mount of the deferred tax asset/liability?

(b) Does this give rise to a deferred tax asset or a deferred tax liability, and what is the amount of the deferred tax asset/liability?