✨ Financial Statements Notes
2752
NEW ZEALAND GAZETTE
No. 110
Notes to the Financial Statements
For the year ended 31 March 2000
| 2000 $000 | 1999 $000 |
|---|
6. INCOME TAX
Operating surplus before tax | 60,406 | 32,949
Prima facie tax @ 33% | 19,934 | 10,873
Plus (less) tax effect of permanent differences | |
Non deductible entertainment | 15 | -
Non deductible legal and consulting | 838 | -
Capital gains and losses on divestment | - | (1,202)
Loss offset from other business | 3,779 | -
Prior period adjustment | (7,200) | -
Other permanent differences | 3,698 | 554
Tax expense | 18,804 | 10,225
The tax charge is represented by | |
Current tax | 10,953 | (5,922)
Deferred tax | 7,851 | 16,147
| 18,804 | 10,225
The company has unrecognised gross tax losses available to be carried forward and offset against future assessable income of $0.0 million (1999: $15.0 million).
7. IMPUTATION BALANCES
Balance at beginning of year | 11,618 | 16,330
Income tax payments during year | (5,053) | -
Imputation credits attaching to dividends received | - | -
Imputation credits attaching to dividends paid | (5,797) | (4,712)
Balance at end of year | 768 | 11,618
8. DEFERRED TAXATION
Balance at beginning of year | 16,703 | 32,850
Transfer to statement of financial performance | (7,851) | (16,147)
Balance at end of year | 8,852 | 16,703
9. DIVIDENDS
Dividends paid on ordinary shares | 11,771 | 9,576
Proposed distributions | 11,771 | 9,576
Proposed dividend on ordinary shares | 33,282 | -
Total distributions paid or payable in cash | 45,053 | 9,576
The dividends paid were fully imputed. The proposed dividend will carry no imputation credits.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 110
Gazette.govt.nz —
NZ Gazette 2000, No 110
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Notes to the Financial Statements
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