New Zealand Gazette – 1995 – No. 100

Page 3147

✨ Financial Statements



15 SEPTEMBER NEW ZEALAND GAZETTE 3147

CITIPOWER LIMITED
NOTES (continued)

  1. COMMITMENTS AND CONTINGENT LIABILITIES

Capital Commitments 0 0 0
Operating Lease Commitments
-not later than 1 year 805 45 850
-later than 1 year but not later than 2 years 777 17 794
-later than 2 years but not later than 5 years 2,330 51 2,381
-later than 5 years 651 162 813
4,563 275 4,838

Contingent Liabilities
The participation fee paid to Nelson City Council is treated as fully tax deductible. If the payment was treated as non deductible for tax purposes the tax liability for Citipower Limited would increase by approximately $931,000
931 0 931

  1. INCOME TAX EXPENSE

The income tax expense has been calculated as follows:
Prima facie Income Tax Expense at 33% of Net Profit Before Tax 0 0 0

Increase in Income Tax Expense due to:
Non-deductible Expenses 0 2 2
0 2 2

Income tax expense comprises:
Current Tax 0 154 154
Deferred Income Tax 0 (152) (152)
INCOME TAX EXPENSE 0 2 2



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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for the 12 months ended 31 March 1995 (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Commitments, Contingent Liabilities, Income Tax, Citipower Limited, Nelson City Council