New Zealand Gazette – 2000 – No. 162

Page 4200

✨ Financial Statements



4200

NEW ZEALAND GAZETTE

No. 162

TRANSPower NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2000

  1. TAXATION

LINES BUSINESS LINES BUSINESS
2000 1999
$000 $000

Operating surplus before tax 191,379 136,611
Prima facie tax at 33% 63,155 45,082
Tax effect of:
Timing differences not recognised

  • current period excluding revaluation adjustment (4,899) (10,036)
  • current period revaluation adjustment (17,852) 4,657
    Permanent differences (1,947) (858)
    Income tax charge in respect of
    the current year 38,457 38,845
    Under provision in prior years 411 867
    Tax expense 38,868 39,712

The income tax charge is represented by:
Tax payable in the current year 38,457 38,845
Deferred tax - -
38,457 38,845

Deferred tax liability memorandum account

Balance at the beginning of the year 109,985 104,606
Increase (reduction) in deferred tax liability 22,751 5,379
Balance at the end of the year 132,736 109,985

These timing differences predominantly relate to depreciation and infrastructure asset
service potential adjustment in respect of fixed assets, and are not recognised in the
financial statements.

Imputation credit memorandum account

Balance at the beginning of the year 45,329 52,601
Transfer to subsidiaries - -
Imputation credits on dividends received - -
Tax payments made 51,978 32,601
Imputation credits attached to dividends
paid to shareholders (16,413) (39,873)
Balance at the end of the year 80,894 45,329



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 162


Gazette.govt.nz — PDF NZ Gazette 2000, No 162




✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Notes to the Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Taxation, Operating Surplus, Income Tax, Deferred Tax, Imputation Credits, Transpower