New Zealand Gazette – 1998 – No. 142

Page 3451

✨ Financial Statements

11 SEPTEMBER NEW ZEALAND GAZETTE 3451

Wairarapa Electricity Limited and Subsidiary Companies

Notes to the Financial Statements

7) Taxation

	Line Business	Energy and Other Business	Line Business	Energy and Other Business
	1998
	000’s	000’s	1997
			000’s	000’s
Operating surplus before taxation	7,475	372	6,148	151
Prima facie taxation @ 33%	2,467	123	2,029	50
Adjusted by taxation effect of:
Permanent differences	(352)	-	(451)	(117)
Over Provision in Previous Years	107	(130)	(54)	65
Taxation Charge	2,222	(7)	1,524	(2)

Taxation Charge is represented by:

| | | | | |
| Current Tax | 2,129 | (146) | 1,588 | (293) |
| Deferred Tax | 93 | 139 | (64) | 291 |

Taxation Refund (provision)

| | | | | |
| Opening Balance | (588) | 599 | 147 | 99 |
| Current Tax Charge | (2,129) | 146 | (1,588) | 293 |
| less Payments made | 1,245 | 191 | 853 | 207 |
| Closing Balance | (1,472) | 936 | (588) | 599 |

Future Income Tax Benefit

| | | | | |
| Opening Balance | 179 | (299) | 115 | (8) |
| Current Period Timing Differences | (93) | (139) | 64 | (291) |
| Closing Balance | 86 | (438) | 179 | (299) |

Imputation Credit Account

| | | | | |
| Opening Balance | - | 1 | (1,423) | (479) |
| Taxes paid | (1,245) | (191) | (853) | (207) |
| Credits Attached to Dividends Paid | 1,211 | 190 | 710 | 130 |
| Credits Attached to Dividends Received | - | - | - | 1 |
| Credits lost due to changes in shareholders | - | - | 1,566 | 556 |
| Closing Balance | (34) | - | - | 1 |

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VUW Te Waharoa — NZ Gazette 1998, No 142

NZLII — NZ Gazette 1998, No 142

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✨ LLM interpretation of page content

🏭 Wairarapa Electricity Limited Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Statements, Taxation, Wairarapa

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