New Zealand Gazette – 2000 – No. 57

Page 1236

✨ Financial Statements



1236
NEW ZEALAND GAZETTE
No. 57

TRANSALTA NEW ZEALAND LIMITED
Notes to and forming part of the Financial
Statements (Continued)
For the Year Ended 31 March 1999

Note: 4 Expenses

Operating Expenses Distribution 31-Mar-99 $000 Distribution 31-Mar-98 $000 Retail 31-Mar-99 $000 Retail 31-Mar-98 $000
Operating 1,626 2,862 2,057 1,629
Amounts paid to auditors for audit fees 6 4 3 3
Amounts paid to auditors for other services 30 204 13 -
Bad debts 28 43 28 36
Provision for doubtful debts 5 7 5 6
Donations 16 16 7 13
Directors’ fees and expenses 22 15 10 13
Rental and operating lease costs 85 73 31 53
Total Operating Expenses 1,818 3,224 2,154 1,753

Net Funding Costs
Interest expense | 1,840 | 2,313 | - | - |
Less interest income | (652) | (204) | - | (16) |
Total Net Funding Costs | 1,188 | 2,109 | - | (16) |

Note: 5 Taxation

Current Period Tax Expense Distribution 31-Mar-99 $000 Distribution 31-Mar-98 $000 Retail 31-Mar-99 $000 Retail 31-Mar-98 $000
Earnings before tax and capital notes interest 8,269 6,354 (1,165) (373)
Prima facie taxation at 33% 2,729 2,097 (384) (123)
Plus tax effect of permanent differences 475 202 (52) (15)
Tax expense 3,204 2,299 (436) (138)

The tax expense is represented by:

Distribution 31-Mar-99 $000 Distribution 31-Mar-98 $000 Retail 31-Mar-99 $000 Retail 31-Mar-98 $000
Current tax 3,098 2,254 (436) (135)
Deferred tax 106 45 - (3)
Total 3,204 2,299 (436) (138)

Deferred Tax Reconciliation
Balance at beginning of period | 106 | 151 | 64 | 61 |
Movements during the period | (106) | (45) | - | 3 |
Balance at end of period | - | 106 | 64 | 64 |

All deferred tax liabilities are provided for as a consequence of the change in accounting policy.

The information disclosed in the 1999 Information Disclosure package issued by TransAlta New Zealand Limited has been prepared solely for the purposes of the Gas (Information Disclosure) Regulations 1997.

The information should not be used for any other purpose than that intended under the regulations.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 57


Gazette.govt.nz — PDF NZ Gazette 2000, No 57




✨ LLM interpretation of page content

🏭 Notes to Financial Statements for TransAlta New Zealand Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Accounting Policies, Gas (Information Disclosure) Regulations, TransAlta New Zealand Limited