In an earlier article we informed our MindLink subscribers about changes in accounting for deferred tax and explained that the new CIT Act effective from 1 January 2018 eliminates all temporary differences between the net book value and tax written-down value of assets and liabilities, with the result that deferred tax assets will no longer be realised nor deferred tax liabilities settled. This means that in general no deferred tax asset or liability will be recognised on the balance sheet as at 31 December 2017.