New Zealand Gazette – 1999 – No. 147

Page 3517

✨ Financial Statements Notes



11 OCTOBER NEW ZEALAND GAZETTE 3517

Notes to and forming part of the financial statements for the year ended 31 March 1999

1999 1998
$000 $000
  1. AUDITOR’S AND DIRECTOR’S REMUNERATION

Amounts payable or due and payable to the auditors for:

Audit services 60 -

Other services 38 -

Directors’ remuneration

Fees paid to directors 378 -

Retiring allowances 322 -

  1. TAX

Surplus (deficit) before tax 32,949 (64,863)

Prima facie tax @ 33% 10,873 (21,405)

Plus (less) tax effect of permanent differences:

Non deductible legal and consulting - 165

Capital gains and losses on divestment (1,202) -

Other permanent differences 554 (1,036)

Tax expense 10,225 (22,276)

The tax charge is represented by:

Current tax (5,922) 10,082

Deferred tax 16,147 (32,357)

                                                                10,225  (22,275)

The company has unrecognised gross tax losses available to be carried forward and offset against future assessable income of: $15.023 million (1998 $nil).

The subsequent realisation of the tax losses is subject to the requirements of income tax legislation being met.

  1. DIVIDENDS

Interim distributions:

Dividends paid on ordinary shares 9,576 -

                                                                9,576      -

Proposed distributions:

Proposed dividends on ordinary shares - -

Total distributions paid or payable in cash 9,576 -



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✨ LLM interpretation of page content

🏭 Financial Performance of Vector Limited for the year ended 31 March 1999 (continued from previous page)

🏭 Trade, Customs & Industry
Financial Performance, Revenue, Surplus, Deficit, Tax, Electricity Lines Business