✨ Taxation and Financial Tables
- TAXATION
| 1998 | 1997 | |
|---|---|---|
| Line Activities | Electricity Generation Retailing Activities | |
| $000 | $000 | |
| Operating (deficit) / surplus before taxation | (64,863) | 15,381 |
| Prima facie taxation @ 33% | (21,405) | 5,076 |
| Plus (less) taxation effect of permanent differences: | ||
| Non deductible entertainment expenses | - | - |
| Non deductible legal and consulting fees | 165 | - |
| Other permanent differences | (1,036) | - |
| Taxation expense | (22,275) | 5,076 |
| The taxation charge is represented by: | ||
| Current taxation payable | 10,082 | 5,506 |
| Future taxation benefit | (32,357) | (430) |
| Prior period adjustments | - | - |
| (22,275) | 5,076 |
1998 Other Activities
| Imputation credit account | $000 |
| Balance as at 31 March 1997 | 50,182 |
| Prior period adjustment | - |
| Income tax payments during year | 29,000 |
| Imputation credits attaching to dividends received in year | 7,018 |
| Imputation credits attaching to dividends paid in year | (12,560) |
| Transfer of tax to subsidiary | - |
| Balance as at 31 March 1998 | 73,640 |
1997 Other Activities
| Imputation credit account | $000 |
| Balance as at 31 March 1997 | 38,543 |
| Prior period adjustment | 47 |
| Income tax payments during year | 27,370 |
| Imputation credits attaching to dividends received in year | 9,002 |
| Imputation credits attaching to dividends paid in year | (24,134) |
| Transfer of tax to subsidiary | (646) |
| Balance as at 31 March 1998 | 50,182 |
At balance date the imputation credits available to the shareholder of the parent company were:
Through direct shareholding in the parent company: | 73,640 | 50,182
Through indirect interests in subsidiaries and in-substance subsidiaries: | - | 646
Total: | 73,640 | 50,828
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VUW Te Waharoa —
NZ Gazette 1998, No 160
NZLII —
NZ Gazette 1998, No 160
✨ LLM interpretation of page content
💰 Taxation and Financial Tables
💰 Finance & RevenueTaxation, Financial Tables, Electricity Generation, Retailing Activities, Operating Surplus, Prima Facie Taxation, Permanent Differences, Taxation Expense, Current Taxation, Future Taxation, Imputation Credit Account, Dividends