New Zealand Gazette – 1991 – No. 194

Page 4044

✨ 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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✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
20 December 1991
Financial Statements, Income Tax, Taxation, Deferred Taxation, Telecom South Limited