✨ Financial Statements
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
| Electricity Line $000 | Electricity Energy $000 | Gas Distribution $000 | Gas Retailing $000 | Other $000 | Total $000 | |
|---|---|---|---|---|---|---|
| Operating surplus before taxation | 22,055 | 2,378 | 2,812 | (296) | (830) | 26,119 |
| Prima facie taxation @ 33% | 7,278 | 785 | 928 | (98) | (274) | 8,619 |
| Plus/(less) tax effect of permanent timing differences | (25) | (2) | (8) | (1) | (36) | |
| Deferred taxation | (345) | (27) | (39) | 6 | 15 | (390) |
| Taxation expense | $6,908 | $756 | $881 | ($93) | ($259) | $8,193 |
Imputation Credit Account
| 1997 $000 | 1996 $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) imputations credits received by the subsidiary company, Taranaki Energy Limited.
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VUW Te Waharoa —
NZ Gazette 1997, No 180
NZLII —
NZ Gazette 1997, No 180
✨ LLM interpretation of page content
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Taxation Details for the Year Ended 31 March 1997
(continued from previous page)
💰 Finance & RevenueTaxation, Financial statements, Operating surplus, Imputation credits