in CHF 1,000 | Note | 2016 | 2015 |
|---|---|---|---|
Deferred tax assets |
|
|
|
Real estate and property and equipment |
| 4,800 | 4,678 |
Tax loss carry-forwards1 |
| 1,573 | 5,179 |
Defined-benefit pension plans |
| 12,438 | 10,082 |
Securities |
| 3,230 | 3,939 |
Total deferred tax assets |
| 22,041 | 23,878 |
|
|
|
|
Deferred tax liabilities |
|
|
|
Real estate and property and equipment |
| 4,317 | 5,284 |
Financial instruments |
| 2,190 | 2,439 |
Financial instruments directly offset within shareholders’ equity |
| 345 | 384 |
Valuation allowances for credit risks |
| 363 | 1,053 |
Other provisions |
| 989 | 4,993 |
Total deferred tax liabilities |
| 8,204 | 14,153 |
|
|
|
|
Deferred tax assets |
|
|
|
Balance at the beginning of the financial year |
| 23,878 | 16,236 |
Offset within shareholders’ equity |
| 2,354 | 1,462 |
Tax loss carry-forwards1 |
| 1,361 | 0 |
Charged to income statement |
| 216 | 1,001 |
Changes in scope of consolidation | 0 | 5,179 | |
Released to income statement |
| –5,768 | 0 |
Total deferred tax assets |
| 22,041 | 23,878 |
in CHF 1,000 | Note | 2016 | 2015 |
|---|---|---|---|
Deferred tax liabilities |
|
|
|
Balance at the beginning of the financial year |
| 14,153 | 8,755 |
Reclassifications |
| –37 | –4,092 |
Charged to income statement |
| 20 | 3,421 |
Changes in scope of consolidation | 0 | 9,360 | |
Released to income statement |
| –5,932 | –1,943 |
Effects of changes in deferred tax rates |
| 0 | –1,348 |
Total deferred tax liabilities |
| 8,204 | 14,153 |
- Providing that the realisation of future tax benefits is considered probable, these must be treated as an asset. The offset of deferred tax assets and liabilities is only possible if they are due to/from the same taxing authority.
Deferred taxes arise because of timing differences between the IFRS financial statements and the statutory accounts as a result of differing valuation policies.
Loss carry-forwards not reflected in the balance sheet expire as follows: |
|
|
Within 1 year | 0 | 0 |
Within 2 to 4 years | 0 | 589 |
After 4 years | 0 | 318 |
Total | 0 | 907 |