✨ Financial Statements
4044 NEW ZEALAND GAZETTE No. 194
TELECOM SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
4 INCOME TAX
| Six months ended | Year ended | ||
|---|---|---|---|
| 30 September | 31 March | ||
| 1991 | 1990 | 1991 | |
| $000's | $000's | $000's |
The income tax expense for the period is determined as follows:
| Earnings before income tax | 44,886 | 28,540 | 75,281 |
| Tax at current rate of 33% | 14,812 | 9,418 | 24,843 |
| Adjustment for permanent differences | 64 | 376 | 214 |
| Total income tax expense | 14,876 | 9,794 | 25,057 |
The income tax expense is represented by:
| - Current taxation | 11,329 | 6,113 | 15,940 |
| - Deferred taxation | 3,547 | 3,681 | 9,117 |
| 14,876 | 9,794 | 25,057 |
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 | 1,780 | 3,095 | 3,095 |
| - Total taxation in the current period | (11,329) | (6,113) | (15,940) |
| - Tax paid | 1,299 | - | 14,625 |
| Prepaid income tax/(Taxation payable) | (8,250) | (3,018) | 1,780 |
Deferred taxation:
| - Balance at beginning of period | (5,651) | (3,891) | (3,891) |
| - Provided in the current period | (3,547) | (3,681) | (9,117) |
| - Other movements | (63) | 6,738 | 7,357 |
| Deferred income tax | (9,261) | (834) | (5,651) |
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VUW Te Waharoa —
NZ Gazette 1991, No 194
NZLII — 🌐 NZ Gazette 1991, No 194
✨ LLM interpretation of page content
🏭
Notes to the Financial Statements for Telecom South Limited
(continued from previous page)
🏭 Trade, Customs & Industry20 December 1991
Financial Statements, Income Tax, Taxation, Deferred Taxation, Telecom South Limited