✨ Financial Statements
21 AUGUST NEW ZEALAND GAZETTE 2457
Total operating expenditure
| 2000 | |
|---|---|
| $000’s | |
| ------------------------ | ------------ |
| 85,732 | |
| 84,263 |
Operating surplus before interest and income tax
| 2000 | 1999 | |
|---|---|---|
| $000’s | $000’s | |
| ------------------------ | ------------ | ------------ |
| 57,647 | 57,420 |
Interest expense
- interest expense on borrowings | - | 5,910
- financing charges related to finance leases | - | -
- other interest expense | - | -
Total | - | 5,910
Operating surplus before income tax
| 2000 | 1999 | |
|---|---|---|
| $000’s | $000’s | |
| ------------------------ | ------------ | ------------ |
| 57,647 | 51,510 |
- TAXATION
The taxation provisions are subject to Inland Revenue Department assessment.
| 2000 | 1999 | |
|---|---|---|
| $000’s | $000’s | |
| ------------------------ | ------------ | ------------ |
| Surplus before taxation | 57,647 | 51,510 |
| Prima facie taxation at 33% | 19,023 | 16,998 |
ADD/(LESS) taxation effect of:
| 2000 | 1999 | |
|---|---|---|
| Timing differences | (460) | 1,450 |
| Permanent differences | 2,641 | 12 |
| Under/(over) provisions in prior years | 18 | 584 |
Taxation as per Statement of Financial Performance
| 2000 | 1999 | |
|---|---|---|
| $000’s | $000’s | |
| ------------------------ | ------------ | ------------ |
| 21,222 | 19,044 |
The Company has a deferred tax liability of $33 million in respect of timing differences relating to the current and prior periods that are not recognised in the deferred tax account. This relates to potential tax depreciation recovered on the electricity distribution network. This liability would crystallise if these assets were sold at their carrying value.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 98
Gazette.govt.nz —
NZ Gazette 2000, No 98
✨ LLM interpretation of page content
💰
Notes to the Financial Statements of Orion New Zealand Limited
(continued from previous page)
💰 Finance & RevenueOperating Expenditure, Operating Surplus, Interest Expense, Income Tax, Taxation Provisions, Deferred Tax Liability, Financial Reports, Accounting, Revenue Streams, Expense Categories, Tax Depreciation, Asset Sales