New Zealand Gazette – 1996 – No. 95

Page 2498

✨ Financial Statements



2498 NEW ZEALAND GAZETTE No. 95

WAIPA POWER LIMITED - OTHER BUSINESS

2 NET PROFIT BEFORE TAXATION

1996 $ 1995 $
After Charging:
Audit fees and expenses 16,930 18,253
Depreciation 110,116 87,564
Directors’ fees 44,570 33,324
Bad Debts 11,250 121,372
Net Loss on Disposal of Fixed Assets 4,226 (83,532)
After Crediting:
Interest Received 319,272 274,012

3 TAXATION

1996 $ 1995 $
Net profit before taxation 846,030 894,515
Prima facie taxation at 33% 279,190 295,190
Tax effect of permanent differences
- non-assessable items 44,073 (16,393)
Taxation Expense 323,263 278,797
Over provision previous year - -
Adjustments Previous Years - -
Total Taxation Expense 323,263 278,797

The Taxation charge comprises:

1996 $ 1995 $
- current taxation 214,997 287,497
- deferred taxation 108,266 (8,701)

| | | |
| Deferred Taxation/(Future Taxation Benefit) |
| Opening balance | (108,266) | (99,565) |
| Adjustments Previous Years | - | - |
| Deferred portion of current year tax expense | 108,266 | (8,701) |

Deferred tax relates primarily to non-deductible provisions.

Imputation credit memorandum account

1996 $ 1995 $
Balance at the beginning of the year 352,763 200,627
Dividends Allocated (247,856) (150,216)
Taxation paid 204,292 302,352
Balance at end of year 309,199 352,763


Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1996, No 95


NZLII — PDF NZ Gazette 1996, No 95




✨ LLM interpretation of page content

🏭 Notes to and Forming Part of the Financial Statements for Waipa Power Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Net Profit, Taxation, Deferred Tax, Imputation Credit, Waipa Power Limited