New Zealand Gazette – 1995 – No. 140

Page 4577

✨ Financial Statements Notes



27 NOVEMBER NEW ZEALAND GAZETTE 4577

NOTES TO THE FINANCIAL STATEMENTS

12 months ended June 1995 $000 12 months ended June 1994 $000

4. NET FINANCE COSTS

Loan Interest 128,821 363,708
Less: Interest Capitalised 4,817 8,504
124,004 355,204
Less: Investment Income 36,550 21,144
Realised Foreign Currency Gains 204 685
Total External Interest Costs 87,250 333,375

Less: Interest Earned from Non-Core Business Activities 917 208,258
Dividends Earned from Non-Core Business Activities 2,982 67,648
3,899 275,906
Net Finance Costs 83,351 57,469

5. INCOME TAX EXPENSE

Surplus before Taxation 579,856 609,429

Prima Facie Tax at 33% 191,352 201,112
Less: Tax Effect of:
Permanent Differences (2,707) 24,277
Prior Year Adjustments 432 (7,569)
Taxation Charge in Statement of Financial Performance 193,627 184,404

The Income Tax Expense is Represented by:
Tax Payable in Respect of the Current Year 194,089 186,547
Deferred Taxation (note 13) (462) (2,143)
193,627 184,404

There are no income tax losses carried forward and available to be set-off against future assessable income.



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1995, No 140


NZLII — PDF NZ Gazette 1995, No 140




✨ LLM interpretation of page content

🏭 Financial Statements of Electricity Corporation of New Zealand Limited (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Accounting Policies, Regulations, Disclosure