New Zealand Gazette – 1995 – No. 93

Page 2832

✨ Financial Statements



2832 NEW ZEALAND GAZETTE No. 93

  1. Taxation.
Line Energy Other Total
($'000s) ($'000s) ($'000s) ($'000s)
Operating Profit Taxation 7,426 541 3,516 11,483
Prima facie Taxation @ 33% 2,451 179 1,160 3,789
Tax effect of Permanent Timing Differences 0 -182 -183

| Income Tax Expense | $2,451 | $179 | $1,142 | $3,772 |

Future tax benefits totalling $695,931 representing timing differences not recognised have not been recorded in the financial statements.

  1. Contingent Liabilities.

There are no material contingent liabilities as at balance date.

  1. Related Party Transactions.

As required by section 44 (5) (f) of the Energy Companies Act 1992, and in accordance with SSAP 22, Taranaki Energy Ltd is deemed to have related party transactions with the New Plymouth District Council, being its principal shareholder. Transactions completed with related parties during the year include rates and rental payments, dividend payments, and the sale of electricity and gas. All of these transactions are at arms length.

Notes to and forming part of the Financial Statements for the year ended 31 March 1995



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✨ LLM interpretation of page content

🏭 Taranaki Energy Limited Statement of Financial Performance (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Taxation, Operating Profit, Income Tax, Contingent Liabilities, Related Party Transactions