New Zealand Gazette – 1991 – No. 97

Page 2166

✨ Telecom Financial Statements



2166 NEW ZEALAND GAZETTE No. 97

TELECOM WELLINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

1991 1990
$000's $000's

4 INCOME TAX

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

Earnings before taxation 60,602 88,226
Tax at current rate of 33% 19,999 29,115
Adjustment for permanent differences (68) 333

Total income tax expense 19,931 29,448

The income tax expense is represented by:
-Current taxation 16,268 25,635
-Deferred taxation 3,663 3,813

                                19,931      29,448

The balance sheet provisions as at 31 March are:

Current taxation:
-Balance at beginning of year 10,366 -
-Total taxation in the current year (16,268) (25,635)
-Tax paid 6,696 36,001

Prepaid income tax 794 10,366

Deferred taxation:
-Balance at beginning of year 11,009 14,822
-Provided in the current year (3,663) (3,813)
-Other movements (1,566) -

Future tax benefit 5,780 11,009

1991 1990
$000's $000's

5 ACCOUNTS RECEIVABLE AND PREPAID EXPENSES

Accounts receivable, net 51,709 60,760
Unbilled rentals and tolls 13,498 14,358
Due from fellow subsidiary companies 10,846 28,006
Prepaid expenses and other 939 1,117

                            **76,992**      **104,241**
1991 1990
$000's $000's

6 SHORT TERM INVESTMENTS

Redeemable preference units 3,123 -



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1991, No 97


NZLII — PDF NZ Gazette 1991, No 97




✨ LLM interpretation of page content

🏭 Telecom Wellington Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
7 June 1991
Telecommunications, Financial Reporting, Income Tax, Accounts Receivable, Short Term Investments