New Zealand Gazette – 1991 – No. 194

Page 3990

✨ Financial Statements



NEW ZEALAND GAZETTE

No. 194

TELECOM AUCKLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

4 INCOME TAX

Six months ended 30 September Year ended 31 March
1991 1990
$000's $000's

The income tax expense for the period is determined as follows:

Earnings before income tax | 19,656 | 34,972 | 66,146 |
Tax at current rate of 33% | 6,487 | 11,541 | 21,828 |
Adjustment for permanent differences | (865) | 1,364 | (1,312) |
Other | - | - | 3 |

Total income tax expense | 5,622 | 12,905 | 20,519 |

The income tax expense is represented by:

  • Current taxation | 1,391 | 7,182 | 11,874 |

  • Deferred taxation| 4,231 | 5,723 | 8,645 |

                    | 5,622          | 12,905        | 20,519        |

The balance sheet provisions are:

30 September 31 March
1991 1990
$000's $000's

Current taxation:

  • Balance at beginning of period | 19,800 | 23,290 | 23,290 |
  • Total taxation in the current period | (1,391) | (7,182) | (11,874) |
  • Tax paid | - | - | 8,384 |

Prepaid income tax | 18,409 | 16,108 | 19,800 |

Deferred taxation:

  • Balance at beginning of period | (2,100) | (1,264) | (1,264) |
  • Provided in the current period | (4,231) | (5,723) | (8,645) |
  • Other movements | 163 | 7,274 | 7,809 |

Future tax benefit/(Deferred income tax) | (6,168) | 287 | (2,100) |



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✨ LLM interpretation of page content

🏭 Financial Statements under Telecommunications (Disclosure) Regulations 1990 (continued from previous page)

🏭 Trade, Customs & Industry
20 December 1991
Telecommunications, Financial Statements, Regulations, Income Tax, Taxation