β¨ Financial Statements
28 JUNE NEW ZEALAND GAZETTE 2149
TELECOM CENTRAL LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
2 OPERATING EXPENSES
| 1991 | 1990 | |
|---|---|---|
| $000's | $000's | |
| Total Operating Expenses | 369,608 | 172,277 |
Included in Operating expenses are:
- Depreciation | 104,711 | 46,936 |
- Audit fees | 156 | 106 |
- Intercompany management fee | 19,860 | 10,819 |
- Foreign exchange (gains)/losses| (178) | 67 |
- Lease and rental costs | 5,749 | 1,965 |
3 INTEREST
| 1991 | 1990 | |
|---|---|---|
| $000's | $000's |
Interest income:
- Intercompany | 1,982 | 2,828 |
Interest expense:
- Intercompany | 37,804 | 18,281 |
- Other | 159 | - |
Total Interest Expense | 37,963 | 18,281 |
4 INCOME TAX
| 1991 | 1990 | |
|---|---|---|
| $000's | $000's |
The income tax expense for the year is determined as follows:
- Net earnings before income tax | 94,492 | 44,513 |
- Tax at current rate of 33% | 31,182 | 14,689 |
- Adjustment for permanent differences | 956 | (899) |
Total income tax expense | 32,138 | 13,790 |
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1991, No 97
NZLII —
NZ Gazette 1991, No 97
β¨ LLM interpretation of page content
π
Telecom Central Limited Financial Statements
(continued from previous page)
π Trade, Customs & Industry7 June 1991
Telecommunications, Financial Reporting, Operating Expenses, Interest, Income Tax