New Zealand Gazette – 1991 – No. 194

Page 4026

✨ Financial Statements



4026

NEW ZEALAND GAZETTE

No. 194

TELECOM WELLINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

4 INCOME TAX

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

Six months ended 30 September Year ended 31 March
1991 1990 1991
$000's $000's $000's
Earnings before income tax 14,522 21,656 60,602
Tax at current rate of 33% 4,792 7,146 19,999
Adjustment for permanent differences (3,115) 57 (68)
Total income tax expense 1,677 7,203 19,931

The income tax expense is represented by:

  • Current taxation | 173 | 5,540 | 16,268 |
  • Deferred taxation | 1,504 | 1,663 | 3,663 |
    | | 1,677 | 7,203 | 19,931 |

The balance sheet provisions are:

30 September 31 March
1991 1990 1991
$000's $000's $000's
Current taxation:
-Balance at beginning of period 794 10,366 10,366
-Total taxation in the current period (173) (5,540) (16,268)
-Tax paid 351 - 6,696
Prepaid income tax 972 4,826 794
Deferred taxation:
-Balance at beginning of period 5,780 11,009 11,009
-Provided in the current period (1,504) (1,663) (3,663)
-Other movements 153 (1,566) (1,566)
Future tax benefit 4,429 7,780 5,780


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🏭 Notes to the Financial Statements for Telecom Wellington Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Income Tax, Taxation, Accounting, Telecom Wellington Limited