New Zealand Gazette – 1998 – No. 135

Page 3287

✨ Financial Statements Notes



7 SEPTEMBER NEW ZEALAND GAZETTE 3287

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)

1998 Network 1997 Network 1998 Energy 1997 Energy 1998 Generation
($000) ($000) ($000) ($000) ($000)

2 OTHER REVENUE INCLUDES:

Interest Received 138 1,859 - 767 109

3 EXPENSES INCLUDE:

Audit fees 93 75 - - -

Depreciation 20,560 20,083 774 260 998

Other fees paid to Auditors 234 83 119 55 3

Directors fees 390 319 - - 6

Interest on loans - - - - 2,170

Lease and Rental 200 108 103 22 9

4 TAXATION

CURRENT YEAR TAXATION CHARGE

Operating Surplus Before Taxation 52,636 47,297 19,661 21,179 1,057

Taxation at 33% 17,370 15,608 6,488 6,989 349

Permanent Differences 291 742 (1,839) (244) (76)

Correction to prior year charge (1,775) - 437 - -

Amount due to change in accounting policy (8,615) - - - -

                    7,271       16,350      5,086       6,745       273

THE TAXATION CHARGE IS REPRESENTED BY:

Current Taxation 17,040 15,928 4,649 6,745 (852)

Deferred Taxation 621 422 - - 1,125

Correction to prior year charge (1,775) - 437 - -

Change in accounting policy (8,615) - - - -

                    7,271       16,350      5,086       6,745       273


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✨ LLM interpretation of page content

💰 Notes to Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial Statements, Revenue, Expenses, Taxation, Depreciation, Audit Fees, Interest, Directors Fees