New Zealand Gazette – 1992 – No. 205

Page 4568

✨ Financial Statements Notes



4568
NEW ZEALAND GAZETTE
No. 205

TELECOM CENTRAL LIMITED AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

4 INCOME TAX

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

Earnings before income tax Six months ended 30 September Year ended 31 March
1992 $000's 1991 $000's
48,605 52,595
Tax at current rate of 33% 16,039 17,356
Adjustment for permanent differences 174 173
Total income tax expense 16,213 17,529

The income tax expense is represented by:

  • Current taxation | 15,442 | 17,286 | 38,736 |
  • Deferred taxation | 771 | 243 | (531) |
    | | 16,213 | 17,529 | 38,205 |

The balance sheet provisions are:

Current taxation: 30 September 31 March
1992 $000's 1991 $000's
-Balance at beginning of period (6,450) 6,648
-Total taxation in the current period (15,442) (17,286)
-Tax paid 9,473 3,561
-Other - -
Taxation payable (12,419) (7,077)

| Deferred taxation: | | | |
| -Balance at beginning of period | (6,418) | (8,419) | (8,419) |
| -Provided in the current period | (771) | (243) | 531 |
| -Other | (88) | 312 | 1,470 |
| Deferred income tax | (7,277) | (8,350) | (6,418) |

A deferred tax asset at 30 September 1992 of $2.3 million in respect of timing differences relating to depreciation on buildings has not been recognised.



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✨ LLM interpretation of page content

💰 Telecom Central Limited and Subsidiary Financial Statements (continued from previous page)

💰 Finance & Revenue
12 November 1992
Financial Statements, Income Tax, Taxation, Depreciation, Telecom Central Limited