New Zealand Gazette – 2003 – No. 103

Page 2733

✨ Financial Statements



18 AUGUST

NEW ZEALAND GAZETTE

2733

2003 $000's 2002 $000's
Cost of offering credit:
- bad debts written off 41 26
- increase in estimated doubtful debts — 90
Total 41 116

| Local authority rates expense | 1,669 | 1,168 |
| Rebates to consumers due to ownership interest | — | — |
| Subvention payments | — | — |
| Unusual expenses | — | — |
| Other expenditure not listed | 237 | 998 |

| Total operating expenditure | 85,109 | 84,946 |

| Operating surplus before interest and income tax | 65,542 | 62,635 |

| Interest expense | | |
| - interest expense on borrowings | — | — |
| - financing charges related to finance leases | — | — |
| - other interest expense | — | — |
| Total | — | — |

| Operating surplus before income tax | 65,542 | 62,635 |

  1. TAXATION

The taxation provisions are subject to Inland Revenue Department assessment.

2003 $000's 2002 $000's
Surplus before taxation 65,542 62,635
Prima facie taxation at 33% 21,629 20,670

| Taxation effect of: | | |
| Deferred tax adjustment | 414 | 211 |
| Permanent differences | 2,848 | 1,400 |
| Under/(over) provisions in prior years | 698 | (610) |

| Taxation as per Statement of Financial Performance | 25,589 | 21,671 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 103


Gazette.govt.nz — PDF NZ Gazette 2003, No 103




✨ LLM interpretation of page content

💰 Notes to the Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial Statements, Operating Expenditure, Taxation, Interest Expense, Operating Surplus, Deferred Tax, Permanent Differences, Prior Year Adjustments