✨ Financial Statements
4550 NEW ZEALAND GAZETTE No. 205
TELECOM AUCKLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
4 INCOME TAX
| Six months ended 30 September | Year ended 31 March | |
|---|---|---|
| 1992 | 1991 | |
| $000's | $000's |
The income tax expense for the period is determined as follows:
Earnings before income tax | 23,627 | 19,656 | 49,401 |
Tax at current rate of 33% | 7,797 | 6,487 | 16,302 |
Adjustment for permanent differences | 8 | (865) | (5,043) |
Total income tax expense | 7,805 | 5,622 | 11,259 |
The income tax expense is represented by:
-Current taxation | 8,513 | 1,391 | 2,932 |
-Deferred taxation | (708) | 4,231 | 8,327 |
Total | 7,805 | 5,622 | 11,259 |
The balance sheet provisions are:
| 30 September | 31 March | |
|---|---|---|
| 1992 | 1991 | |
| $000's | $000's |
Current taxation:
-Balance at beginning of period | 23,435 | 19,800 | 19,800 |
-Total taxation in the current period | (8,513) | (1,391) | (2,932) |
-Tax paid | - | - | 4,176 |
-Other | 20 | - | 2,391 |
Prepaid income tax | 14,942 | 18,409 | 23,435 |
Deferred taxation:
-Balance at beginning of period | (9,076) | (2,100) | (2,100) |
-Provided in the current period | 708 | (4,231) | (8,327) |
-Other | 649 | 163 | 1,351 |
Deferred income tax | (7,719) | (6,168) | (9,076) |
A deferred tax liability at 30 September 1992 of $0.4 million in respect of timing differences relating to depreciation on buildings has not been recognised.
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VUW Te Waharoa —
NZ Gazette 1992, No 205
NZLII —
NZ Gazette 1992, No 205
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Financial Statements under Telecommunications (Disclosure) Regulations 1990
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