✨ Financial Statements
28 NOVEMBER NEW ZEALAND GAZETTE 4099
3. Income Tax
| $Thousands | |
|---|---|
| 2000 | |
| a) The Income Tax Expense has been calculated as follows: | |
| Surplus before Taxation | 46,881 |
| Income Tax at 33% | 15,471 |
| Adjustments to tax for: | |
| Non-deductible expenditure | 1,171 |
| Tax Charge | 16,642 |
4. Fixed Assets
| $Thousands | |
|---|---|
| 2000 | |
| Cost/ | |
| Valuation | |
| Pipelines, Compressors and Gate Stations | 376,905 |
| Machinery and Equipment | 13,347 |
| Motor Vehicles | 1,850 |
| Freehold Land and Buildings | 4,102 |
| Construction in Progress | 3,209 |
| Total | 399,413 |
Pipelines, compressors and gate stations were revalued as at 30 June 2000 using the optimised deprival valuation methodology. The valuation was reviewed and certified by Cap Gemini Ernst and Young.
Based on the latest Government valuations the Directors estimate that the fair valuation of land and buildings is approximately equivalent to their net book value as at 30 June 2000.
5. Deferred Expenditure
| $Thousands | |
|---|---|
| 2000 | |
| Balance as at 1 July | 8,541 |
| Less Amounts Amortised to Expenses | (1,086) |
| 7,455 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 159
Gazette.govt.nz —
NZ Gazette 2000, No 159
✨ LLM interpretation of page content
💰
Natural Gas Corporation - Gas Transmission Activities Notes to the Financial Statements
(continued from previous page)
💰 Finance & RevenueIncome Tax, Fixed Assets, Pipelines, Compressors, Gate Stations, Machinery, Equipment, Motor Vehicles, Freehold Land, Buildings, Construction in Progress, Depreciation, Valuation, Deferred Expenditure