✨ Financial Statements Notes
9 SEPTEMBER NEW ZEALAND GAZETTE
2855
Notes to and Forming Part of the Financial Statements
For the Year Ended 31 March 1997
14 TAXATION
Taxation for the year ended 31 March 1997
| Line | Energy | Other | Total | |
|---|---|---|---|---|
| 1996 | 1996 | 1996 | 1996 | |
| $000 | $000 | $000 | $000 | |
| Operating surplus before taxation | 22,055 | 2,378 | 1,686 | 26,119 |
| Prima facie taxation @ 33% | 7,278 | 785 | 556 | 8,619 |
| Plus/(less) tax effect of permanent timing differences | (25) | (2) | (9) | (36) |
| Deferred taxation | (345) | (27) | (18) | (390) |
| Taxation expense | $6,908 | $756 | $529 | $8,193 |
Taxation for the year ended 31 March 1996
| Line | Energy | Other | Total | |
|---|---|---|---|---|
| 1996 | 1996 | 1996 | 1996 | |
| $000 | $000 | $000 | $000 | |
| Operating surplus (deficit) before taxation | 12,879 | 670 | 2,936 | 16,485 |
| Prima facie taxation @ 33% | 4,250 | 221 | 969 | 5,440 |
| Plus/(less) tax effect of permanent timing differences | (239) | (12) | 274 | 23 |
| Taxation expense | $4,011 | $209 | $1,243 | $5,463 |
Imputation Credit Account
| 1997 | 1996 | |
|---|---|---|
| $000 | $000 | |
| Balance as at 31 March 1996 | 5,556 | - |
| Imputation credits attached to dividends received during the year | 321 | 295 |
| Imputation credits attached to dividends paid during the year | (8,086) | - |
| Income tax payments made during the year | 7,357 | 5,261 |
| Balance as at 31 March 1997 | $5,148 | $5,556 |
Included within this balance is the amount of $292,000 (1996: $235,000) imputation credits received by the subsidiary company, Taranaki Energy Limited.
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VUW Te Waharoa —
NZ Gazette 1997, No 120
NZLII —
NZ Gazette 1997, No 120
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Powerco Limited Financial Statements
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🏭 Trade, Customs & Industry31 March 1997
Operating Revenue, Sales, Profit, Dividend, Interest, Taxation, Imputation Credit Account