McConnell Dowell 72 All figures are in A$000's Note 2022 2021 Deferred tax asset 21,796 22,323 Deferred tax liability (10,008) (11,807) Net deferred tax asset 11,788 10,516 Net deferred tax asset represented by; At beginning of year 10,516 8,807 Foreign exchange impact on opening balance (225) (168) Transfer to statement of comprehensive income 1,497 1,877 Closing balance 11,788 10,516 Balance at end of year comprises: Provisions / accruals 15,179 12,535 Property, plant and equipment 722 1,637 Lease liabilities 1,112 1,165 Withholding tax on future dividends (4,185) (5,168) Tax losses available for future utilisation - 345 Joint operation temporary differences 561 795 Other (1,601) (793) Closing balance 11,788 10,516 The Group offsets its deferred tax liabilities against deferred tax assets relating to temporary differences in the same taxation jurisdictions and periods. All movements in deferred tax balances have been charged to deferred tax expense as recognised in the statement of profit or loss. The gross value of unbooked tax losses available for future utilisation within the Australian Tax Consolidation Group is $457.9 million (2021: $491.8 million) available for offset against future profits. No deferred taxation asset has been recognised in respect of the remaining unused taxation losses. If and when the losses are used by the Tax Consolidation Group they will be recouped by the Company through the intercompany receivable. Notes to the annual financial statements (continued) for the year ended 30 June 2022 Consolidated 12. Deferred tax assets
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