New Zealand Gazette – 2001 – No. 89

Page 2278

✨ Taxation Report



2278 NEW ZEALAND GAZETTE No. 89

4. TAXATION

2001 2000
$000 $000
Accounting profit/(loss) before taxation 4,701 7,222

Prima facie taxation/(credit) @ 33% | 1,551 | 2,383 |

Plus/(less) taxation effect of:

  • Overestimation in prior year | (340) | -
  • Non deductible expenses | 37 | 6 |
  • Other permanent differences | (312) | 8 |

Income Tax Attributable to Net Operating Surplus/(Loss) | 936 | 2,397 |

The taxation charge is represented by:

2001 2000
$000 $000
Current Taxation 539 2,109
Deferred Taxation 397 288
936 2,397

Deferred taxation is represented by:

2001 2000
$000 $000
Deferred taxation 1 April 2000 2,001 1,713
Current charge 397 288
Effect of revaluation of assets 7,251 -
Deferred taxation liability 31 March 2001 9,649 2,001

Imputation credit account:

2001 2000
Balance as at 1 April 2000 2,341
433
Income tax payments made during the period:
Line Business 1,436 1,628
Other Business 416 35
Imputation credits attached to dividends paid to shareholders:
Line Business - (123)
Other Business - (3,448)
Balance as at 31 March 2001 2,285 433

Imputation credits are recorded for both the Line and Other Businesses, as the two businesses operate as a single legal and tax entity. As a consequence all imputation credits are available for utilisation by either or both businesses.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 89


Gazette.govt.nz — PDF NZ Gazette 2001, No 89




✨ LLM interpretation of page content

💰 Operating Revenue and Expenditure Report (continued from previous page)

💰 Finance & Revenue
Taxation, Accounting Profit, Current Taxation, Deferred Taxation, Imputation Credits