✨ Financial Statements
NEW ZEALAND GAZETTE
No. 139
TRANS POWER NEW ZEALAND LIMITED GROUP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 1995
7. TAXATION
| 1995 | 1994 | 1994 | |
|---|---|---|---|
| 12 months | 15 months | 12 months | |
| $000 | $000 | $000 | |
| Earnings before tax | 110,029 | 152,966 | 118,785 |
| Prima facie tax at 33% | 36,310 | 50,478 | 39,199 |
Tax effect of:
| Timing differences not recognised | (13,355) | (23,653) | (20,168) |
| Permanent differences | (1,090) | (4,592) | (3,196) |
Tax payable in respect of the
| current year | 21,865 | 22,233 | 15,835 |
|---|---|---|---|
| Under provision in prior years | 3,641 | 933 | 933 |
| Tax Expense | 25,506 | 23,166 | 16,768 |
The income tax charge is represented by:
| Tax payable in the current year | 21,878 | 22,302 | 15,890 |
| Deferred tax | (13) | (69) | (55) |
| 21,865 | 22,233 | 15,835 |
Deferred tax liability in respect of timing differences not recognised
| Balance at the beginning of the year | 195,486 | 187,351 | 187,844 |
| Deferred tax liability not recognised in this year | 13,355 | 23,653 | 20,056 |
| Prior period adjustment | (845) | (15,518) | (12,414) |
| Balance at the end of the year | 207,996 | 195,486 | 195,486 |
These timing differences predominantly relate to depreciation of fixed assets.
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VUW Te Waharoa —
NZ Gazette 1995, No 139
NZLII — 🌐 NZ Gazette 1995, No 139
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Notes to the Financial Statements for Trans Power New Zealand Limited
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🏗️ Infrastructure & Public WorksFinancial Statements, Taxation, Depreciation, Deferred Tax, Fixed Assets