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Note 18: Discontinued operations
During the year, the Cardwell Supermarket operations was disposed on 11 March 2020 at $300,000 plus stock-in-trade estimated to be $300,000. The disposal is a going concern and is consistent with Outback Stores’ focus on the long term objective of managing remote community stores. Cardwell Supermarket Pty Ltd is in the process of being wound up and will be legally deregistered in the 2021 financial year.
The results of the discontinued operations (i.e. Cardwell Supermarket) included in the profit or loss for the year are set out below.
Other non-operating income
Losses from sale of assets
Attributable income tax benefit
The major classes of assets and liabilities comprising the operations classified a held for sale are as follows:
During the year, Cardwell Supermarket used $216,060 (2019: contributed $63,348) to the Group’s net operating cash flow, paid $554,041 (2019: $3,720) in respect of investing activities and paid nil (2019: Nil) in respect of financing activities.
Property plant and equipment
Deferred tax assets
Cash and bank balances
Deferred tax liability