New Zealand Gazette – 1995 – No. 93

Page 2872

✨ Financial Statements



2872 NEW ZEALAND GAZETTE No. 93

2 NET PROFIT BEFORE TAXATION

1995
$

After Charging:

  • Direct Expenditure | 2,181,555 |
  • Audit fees and expenses | 18,253 |
  • Directors' fees | 43,760 |
  • Other Indirect expenditure | 1,020,379 |
  • Depreciation | 187,651 |

After Crediting:

  • Interest Received | 364,227 |

3 TAXATION

1995
$

Net profit before taxation | 2,110,290 |

Prima facie taxation at 33% | 696,396 |

Tax effect of permanent differences

  • non-assessable items | 31,802 |

Taxation Expense | 728,198 |

Over provision previous year | (34,012) |

Adjustments Previous Years | 12,961 |

Total Taxation Expense | 707,147 |

The Taxation charge comprises:

  • current taxation | 557,923 |

  • deferred taxation | 149,224 |

                        | 707,147 |

Deferred Taxation/(Future Taxation Benefit)
Opening balance (51,624)
Adjustments Previous Years 4,389
Deferred portion of current year tax expense 149,224 
                      | 101,989 |

Deferred tax relates primarily to non-deductible provisions.

Imputation credit memorandum account
Balance at the beginning of the year 508,874
Dividends Allocated (342,322)
Taxation paid 586,751

Balance at end of year | 753,303 |



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🏭 Financial Performance Statement for Waipa Power Limited (continued from previous page)

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