New Zealand Gazette – 1996 – No. 107

Page 2774

✨ Financial Statements Notes



NEW ZEALAND GAZETTE

No. 107

HAWKE'S BAY POWER DISTRIBUTION LIMITED AND SUBSIDIARY

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1996 (Continued)

3 INCOME TAX

1996 Lines Business $000 1995 Lines Business $000 1996 Other Businesses $000 1995 Other Businesses $000
a) Taxation
Operating Surplus (Loss)
before Taxation (578) (3,217) 2,106 1,268
Prima Facie Taxation @
33% (191) (1,061) 695 418
PLUS: Permanent
differences 106 133 - -
Taxation Expense
(Benefit) (85) (928) 695 418
PLUS (LESS): Timing
Differences (557) (18) 13 (4)
Current Year Charge
(Tax Loss carried
forward) (642) (946) 708 414
Taxation Payable brought
forward 122 122 (105) (105)
LESS: Taxation Paid - - - -
PLUS: Payment for Intra
Group Tax Offset - - 708 414
Taxation Payable 122 122 (105) (105)

b) Taxation Expense (Benefit) is represented by:

1996 Lines Business $000 1995 Lines Business $000 1996 Other Businesses $000 1995 Other Businesses $000
Current Taxation Payable (Tax loss) (642) (946) 708 414
Deferred Taxation Benefit 557 18 (13) 4
(85) (928) 695 418

c) Movement in Future Tax Benefits (Tax Losses Carried Forward)

1996 Lines Business $000 1995 Lines Business $000
Opening Balance 532 -
LESS: Current Year Change 642 946
LESS: Payment for Intra
Group Tax Offset (708) (414)
466 532

The subsequent realisation of this income tax benefit is subject to the requirements of the Income Tax Legislation being met.



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✨ LLM interpretation of page content

🏭 Hawke's Bay Power Distribution Ltd Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
6 September 1996
Electricity, Financial Statements, Information Disclosure, Hawke's Bay Power Distribution Ltd