25
21. Investment gain
22. Finance income
Recognised in profit or loss
23. Taxa on
a) The ITF Trust is domiciled in the Bahamas and is therefore not subject to income tax. Two subsidiaries are subject
to income tax: ITF Licensing (UK) Ltd and Hopman Cup Pty Ltd.
Recognised in the income statement
b) There is a deferred tax asset of $4,294,000 (2023: $5,672,000) in respect of brought forward tax losses and
decelerated capital allowances which has not been recognised in the balance sheet since the ability to use it against
future profits is not considered probable.
Reconcilia on of effec ve tax rate
2024
$000
2023
$000
Realised gain / (loss) on disposal of investments 917 (1,087)
Unrealised gain on investments 1,142 4,745
2,059 3,658
2024
$000
2023
$000
Finance income
Bank interest received 3 48
Financial income on Olympic deposits - -
3 48
2024
$000
2023
$000
Current tax charge
Current year - -
- -
2024
$000
2023
$000
(Deficit) / surplus for the year (9,612) 373
Total tax charge - -
(Deficit) / surplus excluding taxa on (9,612) 373
Tax using Bahamas corpora on tax rate of 0% (2023: 0%) - -
Effect of tax rate in Australia - -
Withholding tax charge - -
Effect of tax rate in UK - -
Effect of prior year adjustments in UK - -
Total tax charge - -
