NOTES TO THE FINANCIAL STATEMENTS - 31 DECEMBER 2023 5. Property expenses Group Fund 2023 2022 2023 2022 RM RM RM RM Assessment 3,733,043 3,356,065 3,733,043 3,356,065 Takaful coverage 972,905 977,947 972,905 977,947 Maintenance fee 1,354,108 1,246,727 1,288,400 1,184,720 Quit rent 492,330 458,914 492,330 458,914 6,552,386 6,039,653 6,486,678 5,977,646 6. Investment revenue Group Fund 2023 2022 2023 2022 RM RM RM RM Shariah Compliant income from Islamic fixed deposits with licensed banks 1,450,856 922,748 1,450,856 922,748 Profit sharing on advances from a subsidiary in Australia - - 4,455,201 4,455,201 1,450,856 922,748 5,906,057 5,377,949 7. Tax credit Group Fund 2023 2022 2023 2022 RM RM RM RM Deferred tax relating to the origination and reversal of temporary differences (Note 16) (140,000) (103,325) (140,000) (103,325) Reconciliations of the tax credit applicable to profit before tax at the statutory income tax rate to income tax expense at the effective income tax rate of the Group and of the Fund are as follows: Group Fund 2023 2022 2023 2022 RM RM RM RM Profit before tax 60,554,173 60,035,534 66,377,692 58,083,107 Tax at the statutory tax rate of 24% 14,533,002 14,408,528 15,930,646 13,939,946 Different tax rates in other country (564,756) (51,484) - - Deferred tax recognised at different tax rate (140,000) (103,325) (140,000) (103,325) Non-deductible expenses 6,800,983 4,606,746 3,756,684 4,300,044 Income not subject to tax (12,027,019) (12,065,182) (12,600,508) (10,871,927) Income exempted from tax (8,742,210) (6,898,608) (7,086,822) (7,368,063) Tax expense for the year (140,000) (103,325) (140,000) (103,325) AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023 200 FINANCIAL STATEMENTS 1 2 3 4 5
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