New Zealand Gazette – 2001 – No. 105

Page 2688

✨ Financial Statements

VECTOR Limited

Electricity Lines Business

Notes to the Financial Statements

For the year ended 31 March 2001

	2001	2000
	$'000	$'000

3. OPERATING REVENUE

Continuing activities

Revenue from line/access charges | 218,295 | 211,324
Interest on cash, bank balances and short-term investments | 303 | 4,219
Other income | 11,493 | 6,963
AC loss-rental rebates | 8,909 | -
Gain on sale of fixed assets | - | 1,417

Total operating revenue | 239,000 | 223,923

4. CONTINUING AND DISCONTINUED ACTIVITIES

Continuing activities

Revenue | 239,000 | 223,923
Operating surplus before income tax | 106,017 | 60,406

Discontinued activities

Revenue | - | -
Operating surplus before income tax | - | -

Totals

Revenue | 239,000 | 223,923
Operating surplus before income tax | 106,017 | 60,406

5. INCOME TAX

Operating surplus before tax | 106,017 | 60,406
Prima facie tax at 33% | 34,985 | 19,934

Plus/(less) tax effect of permanent differences:

Non-deductible entertainment | 20 | 15
Non-deductible legal and consulting | 223 | 838
Loss offset from other business | - | 1,518
Prior period adjustment | 246 | (7,200)
Other permanent differences | 6,871 | 3,699

Tax expense | 42,345 | 18,804

The tax charge is represented by:

Current tax | 36,111 | 10,953
Deferred tax | 6,234 | 7,851

                                  | 42,345   | 18,804

Some tax benefits in VECTOR Limited are not included in the calculation of the line business tax expense as these losses arise from prior period transactions incurred by "other" activities. Only those taxation items directly attributable to the line business are taken into account in determining the income tax balances in these financial statements.

VUW Te Waharoa — NZ Gazette 2001, No 105

Gazette.govt.nz — NZ Gazette 2001, No 105

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✨ LLM interpretation of page content

🏭 Vector Limited Notes to the Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Operating Revenue, Continuing Activities, Discontinued Activities, Income Tax

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