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The tax benefits will only be obtained if the conditions in note 1(f) are satisfied and if: 

(a) the consolidated entity derives future assessable income of a nature and of an amount sufficient to enable the benefit from the deductions for the losses to be realised; 

(b) the consolidated entity continues to comply with the conditions for deductibility imposed by the relevant tax legislation; and 

(c) no changes in tax legislation adversely affect the consolidated entity in realising the benefit from the deductions for losses. 

For the purposes of income tax, the company and its 100%-owned Australian subsidiaries have not formed a tax consolidated group. Tax consolidation is not expected to have a material effect on the consolidated entity’s deferred tax asset. 

