New Zealand Gazette – 1998 – No. 151

Page 3658

✨ Financial Statements Notes



3658 NEW ZEALAND GAZETTE No. 151

Notes to and Forming Part of the Financial Statements

For the Year Ended 31 March 1998

Taxation for the year ended 31 March 1997

Line 1997 $000 Energy 1997 $000 Other 1997 $000
Operating surplus (deficit) before taxation 22,055 2,378 1,686
Prima facie taxation @ 33% 7,278 785 556
Plus/(less) tax effect of permanent timing differences (25) (2) (9)
Deferred taxation (345) (27) (18)
Taxation expense (benefit) $6,908 $756 $529

Imputation Credit Account

1998 $000 1997 $000
Balance as at 31 March 1997 5,148
Imputation credits attached to dividends received during the year 450 321
Imputation credits attached to dividends paid during the year (7,188) (8,086)
Income tax payments made during the year 9,779 7,357
Balance as at 31 March 1998 $8,189 $5,148

11 DIVIDENDS

1998 $000 1997 $000
Interim distributions:
- Dividends paid on ordinary shares 6,775 6,774
Proposed distributions:
- Proposed dividend on ordinary shares 11,467 7,819
Total $18,242 $14,593


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🏭 Powerco Limited Financial Statements Certification (continued from previous page)

🏭 Trade, Customs & Industry
11 May 1998
Powerco Limited, Financial Statements, Taxation, Imputation Credit, Dividends