New Zealand Gazette – 2004 – No. 138

Page 3436

✨ Financial Statements and Reports



3436 NEW ZEALAND GAZETTE, No. 138 28 OCTOBER 2004

4. Professional Fees

$ $ $
Financial/taxation advisory 135,368 135,368 140,064
Legal 36,140 17,247 5,091
Other 14,298 14,298 15,554
Total 185,806 166,913 160,709

5. Trustees’ Fees

Meeting fees and honorariums were paid to trustees as follows:

Trustee Meetings Attended Parent 2004 $ Parent 2004 $
T. W. Harpur 61 44,265 39,257
C. S. Ballantyne (retired June 2003) 4 2,192 12,258
A. R. MacDonald (retired June 2003) 0 974 11,546
F. G. Cardno 26 16,985 13,222
S. G. Palmer 33 19,450 16,872
J. D. Frampton (retired June 2003) 3 1,181 13,082
A. A. Broad 29 18,825 17,342
N. J. Wyeth 31 19,495 16,092
P. B. Redpath 29 18,185 14,698
D. Williams 31 17,280 13,064
M. Hawes (appointed June 2003) 16 10,538 –
K. S. Henderson (appointed June 2003) 21 12,708 –
G. M. Neave (appointed June 2003) 22 14,073 –
Total 196,151 167,433

Trustee fees and honorariums are set by the Minister of Finance. As from 1 June 2002 the Minister approved a fee increase of approximately 13%.

6. Grants Approved

2004 Group $ 2004 Parent $ 2003 Parent $
Grants approved this year 7,260,486 7,260,486 9,207,483
Less: Prior year’s grants cancelled (337,441) (337,441) (717,992)
Net Grants 6,923,045 6,923,045 8,489,491

7. Taxation Calculation

2004 $ 2004 $ 2003 $
Net surplus/(deficit) before taxation 20,220,183 22,466,478 (12,695,226)
Less: Charitable business exemption 2,080,911 2,080,911 2,218,891
Unrealised gains on New Zealand equities 3,173,634 3,173,634 –
Unrealised gain on grey-list equities 9,797,860 9,797,860 5,673,306
15,052,405 15,052,405 7,892,197
Add: Unrealised loss on New Zealand equities 5,167,778 7,414,073 (20,587,423)
Non deductible expenditure 2,424,985 480,025 453,975
Imputation credits received 305,052 305,052 268,869
Accrual 366,427 366,427 –
Withholding taxation – – 162
Total taxable income/(loss) 3,096,464 1,151,504 1,198,166
Total trustee’s income/(loss) 8,264,242 8,565,577 (19,389,257)
Less: Allocation of beneficiaries’ income to the charitable company (48,766) (48,766) (1,183,800)
Allocation of beneficiaries’ income to tax exempt entities (48,766) (48,766) (1,183,800)
8,215,476 8,516,811 (20,573,057)
Tax losses brought forward ($21,807,028): amount claimed (8,526,007) (8,516,811) –
Assessable income for taxation purposes (310,531) – –
Taxation at 33% – – –
Opening balance (15,416) – –
Income tax refund received 15,416 – –
RWT paid (1,057) – –
Provisional tax paid (45,579) – –
Taxation payable/refund due (46,636) – –


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 138


Gazette.govt.nz — PDF NZ Gazette 2004, No 138




✨ LLM interpretation of page content

💰 Notes to the Financial Statement for the Year Ended 31 March 2004 (continued from previous page)

💰 Finance & Revenue
Financial Statements, Revenue, Expenditure, Professional Fees, Trustees' Fees, Grants Approved, Taxation Calculation
13 names identified
  • T. W. Harpur, Trustee meeting fees
  • C. S. Ballantyne, Trustee meeting fees
  • A. R. MacDonald, Trustee meeting fees
  • F. G. Cardno, Trustee meeting fees
  • S. G. Palmer, Trustee meeting fees
  • J. D. Frampton, Trustee meeting fees
  • A. A. Broad, Trustee meeting fees
  • N. J. Wyeth, Trustee meeting fees
  • P. B. Redpath, Trustee meeting fees
  • D. Williams, Trustee meeting fees
  • M. Hawes, Trustee meeting fees
  • K. S. Henderson, Trustee meeting fees
  • G. M. Neave, Trustee meeting fees