✨ Financial Statements Notes
22 MAY NEW ZEALAND GAZETTE 1397
2.3 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
(con’t)
| | 12 months | 9 months |
| | 2001 | 2000 |
| | ($000) | ($000) |
4 Taxation
Current period taxation charge
Operating loss before taxation | (4,489) | (346) |
Taxation at 33% | (1,481) | (114) |
Permanent differences | (65) | - |
Net benefit of tax losses transferred from group companies
purchased via subvention payments | - | - |
Timing differences not recognised | - | - |
| (1,546) | (114) |
The taxation charge is represented by:
Current taxation | (12,119) | (10,949) |
Deferred taxation | 10,573 | 10,835 |
| (1,546) | (114) |
Deferred tax asset reconciliation
Opening balance | (10,949) | (10,949) |
Current year tax charge movement | (12,119) | - |
Closing balance 31 December | (23,068) | (10,949) |
Deferred tax liability reconciliation
Opening balance | 10,835 | - |
Current year tax charge movement | 10,573 | 10,835 |
Closing balance 31 December | 21,408 | 10,835 |
Net deferred tax asset | 1,660 | 114 |
The subsequent realisation of the future income tax benefit is subject to the necessary shareholder continuity and other requirements of income tax legislation being met.
5 Share capital
6 Reserves
Other reserves
Opening balance | - | - |
Closing balance 31 December | - | - |
Retained earnings
Opening balance | - | (232) |
Transferred from statement of financial performance | (2,943) | (232) |
Closing balance 31 December | (3,175) | (232) |
Total reserves | (3,175) | (232) |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 51
Gazette.govt.nz —
NZ Gazette 2002, No 51
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Notes to Financial Statements for UnitedNetworks
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🏭 Trade, Customs & IndustryFinancial Statements, Taxation, Share Capital, Reserves, Deferred Tax, Retained Earnings