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v3.19.3

Income tax (Tables) | 12 Months Ended
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Jun. 30, 2019
Income Tax [Abstract] |
Schedule of income tax | The details of the provision for the Group's income tax, is as follows:
|  | June 30, 2019 |  |  | June 30, 2018 |  |  | June 30, 2017 |
Current income tax |  |  | (1,344 | ) |  |  | (381 | ) |  |  | (1,190 | )
Deferred income tax |  |  | 3,034 |  |  |  | 6,661 |  |  |  | (301 | )
Income tax from continuing operations |  |  | 1,690 |  |  |  | 6,280 |  |  |  | (1,491 | )
Schedule of statutory taxes rates | The statutory taxes rates in the countries where the Group operates for all of the years presented are:
Tax jurisdiction |  | Income tax rate |
Argentina |  |  | 25% - 35 | %
Uruguay |  |  | 0% - 25 | %
U.S.A. |  |  | 0% - 40 | %
Bermudas |  |  | 0 | %
Israel |  |  | 23% - 24 | %
Schedule of reconciliation of income tax expense | Below is a reconciliation between income tax expense and the tax calculated applying the current tax rate, applicable in the respective countries, to profit before taxes for years ended June 30, 2019, 2018 and 2017:
|  | June 30, 2019 |  |  | June 30, 2018 |  |  | June 30, 2017 |
Loss from continuing operations at tax rate applicable in the respective countries |  |  | 7,363 |  |  |  | 353 |  |  |  | 1,420 |
Permanent differences: |  |  |  |  |  |  |  |  |  |  |  |
Share of profit of associates and joint ventures |  |  | (1,036 | ) |  |  | (223 | ) |  |  | (379 | )
Unrecognized tax loss carryforwards |  |  | (2,977 | ) |  |  | (2,810 | ) |  |  | (2,600 | )
Change of tax rate |  |  | (238 | ) |  |  | 9,042 |  |  |  | 858 |
Gain / (loss) from sale of an associate |  |  | 400 |  |  |  | (300 | ) |  |  | - |
Tax inflation adjustment |  |  | (2,510 | ) |  |  | - |  |  |  | - |
Changes in fair value of financial instruments |  |  | 328 |  |  |  | (504 | ) |  |  | 896 |
Non-taxable profit / (loss), non-deductible expenses and others |  |  | 360 |  |  |  | 722 |  |  |  | (1,686 | )
Income tax from continuing operations |  |  | 1,690 |  |  |  | 6,280 |  |  |  | (1,491 | )
Schedule of deferred tax assets and liabilities | Deferred tax assets and liabilities of the Group as of June 30, 2019 and 2018 will be recovered as follows:
|  | June 30, 2019 |  |  | June 30, 2018 |
Deferred income tax asset to be recovered after more than 12 months |  |  | 8,403 |  |  |  | 9,236 |
Deferred income tax asset to be recovered within 12 months |  |  | 1,449 |  |  |  | 1,700 |
Deferred income tax assets |  |  | 9,852 |  |  |  | 10,936 |
|  |  | June 30, 2019 |  |  |  | June 30, 2018 |
Deferred income tax liability to be recovered after more than 12 months |  |  | (32,993 | ) |  |  | (50,960 | )
Deferred income tax liability to be recovered within 12 months |  |  | (13,255 | ) |  |  | (714 | )
Deferred income tax liability |  |  | (46,248 | ) |  |  | (51,674 | )
Deferred income tax assets (liabilities), net |  |  | (36,396 | ) |  |  | (40,738 | )
Schedule of movement in the deferred income tax assets and liabilities | The movement in the deferred income tax assets and liabilities during the years ended June 30, 2019 and 2018, without taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows:
|  | 06.30.18 |  |  | Cumulative translation adjustment |  |  | Charged / (Credited) to the statements of income |  |  | 06.30.19 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Investment properties and property, plant and equipment |  |  | 160 |  |  |  | (326 | ) |  |  | 285 |  |  |  | 119 |
Investments |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | 4 |
Trade and other payables |  |  | 3,224 |  |  |  | 139 |  |  |  | 643 |  |  |  | 4,006 |
Tax loss carry-forwards |  |  | 6,853 |  |  |  | (185 | ) |  |  | (1,787 | ) |  |  | 4,881 |
Others |  |  | 699 |  |  |  | (42 | ) |  |  | 185 |  |  |  | 842 |
Subtotal assets |  |  | 10,936 |  |  |  | (414 | ) |  |  | (670 | ) |  |  | 9,852 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment properties and Property, plant and equipment |  |  | (46,591 | ) |  |  | 1,042 |  |  |  | 4,768 |  |  |  | (40,781 | )
Trade and other receivables |  |  | (373 | ) |  |  | - |  |  |  | (249 | ) |  |  | (622 | )
Investments |  |  | - |  |  |  | (11 | ) |  |  | (25 | ) |  |  | (36 | )
Tax inflation adjustment |  |  | - |  |  |  | - |  |  |  | (2,111 | ) |  |  | (2,111 | )
Borrowings |  |  | (901 | ) |  |  | 66 |  |  |  | 95 |  |  |  | (740 | )
Intangible assets |  |  | (2,086 | ) |  |  | 181 |  |  |  | 320 |  |  |  | (1,585 | )
Others |  |  | (1,723 | ) |  |  | 444 |  |  |  | 906 |  |  |  | (373 | )
Subtotal liabilities |  |  | (51,674 | ) |  |  | 1,722 |  |  |  | 3,704 |  |  |  | (46,248 | )
Assets (Liabilities), net |  |  | (40,738 | ) |  |  | 1,308 |  |  |  | 3,034 |  |  |  | (36,396 | )
|  | 06.30.17 |  |  | Cumulative translation adjustment |  |  | Charged / (Credited) to the statements of income |  |  | Deconsolidation |  |  | Business combination |  |  | 06.30.18 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment property and property plant and equipment |  |  | 165 |  |  |  | 99 |  |  |  | (104 | ) |  |  | - |  |  |  | - |  |  |  | 160 |
Investments |  |  | 25 |  |  |  | - |  |  |  | (25 | ) |  |  | - |  |  |  | - |  |  |  | - |
Trade and other payables |  |  | 4,071 |  |  |  | (140 | ) |  |  | (707 | ) |  |  | - |  |  |  | - |  |  |  | 3,224 |
Tax loss carry-forwards |  |  | 5,952 |  |  |  | 696 |  |  |  | 203 |  |  |  | - |  |  |  | 2 |  |  |  | 6,853 |
Others |  |  | 1,320 |  |  |  | 203 |  |  |  | (174 | ) |  |  | (650 | ) |  |  | - |  |  |  | 699 |
Subtotal assets |  |  | 11,533 |  |  |  | 858 |  |  |  | (807 | ) |  |  | (650 | ) |  |  | 2 |  |  |  | 10,936 |
Liabilities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Investment properties and Property, plant and equipment |  |  | (38,881 | ) |  |  | (15,597 | ) |  |  | 4,105 |  |  |  | 3,804 |  |  |  | (22 | ) |  |  | (46,591 | )
Trade and other receivables |  |  | (474 | ) |  |  | 91 |  |  |  | 10 |  |  |  | - |  |  |  | - |  |  |  | (373 | )
Investments |  |  | (14 | ) |  |  | 2 |  |  |  | 12 |  |  |  | - |  |  |  | - |  |  |  | - |
Borrowings |  |  | (1,482 | ) |  |  | (134 | ) |  |  | 715 |  |  |  | - |  |  |  | - |  |  |  | (901 | )
Intangible assets |  |  | (4,172 | ) |  |  | (1,230 | ) |  |  | 2,101 |  |  |  | 1,215 |  |  |  | - |  |  |  | (2,086 | )
Others |  |  | (759 | ) |  |  | (1,489 | ) |  |  | 525 |  |  |  | - |  |  |  | - |  |  |  | (1,723 | )
Subtotal liabilities |  |  | (45,782 | ) |  |  | (18,357 | ) |  |  | 7,468 |  |  |  | 5,019 |  |  |  | (22 | ) |  |  | (51,674 | )
Assets (Liabilities), net |  |  | (34,249 | ) |  |  | (17,499 | ) |  |  | 6,661 |  |  |  | 4,369 |  |  |  | (20 | ) |  |  | (40,738 | )
Schedule of tax loss carry forward | As of June 30, 2019, the Group's recognized tax loss carry forward prescribed as follows:
Date |  | Total |
2020 |  |  | 46 |
2021 |  |  | 25 |
2022 |  |  | 52 |
2023 |  |  | 85 |
2024 |  |  | 248 |
Subtotal |  |  | 456 |
Do not expire |  |  | 4,425 |
Total |  |  | 4,881 |

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