New Zealand Gazette – 2005 – No. 142

Page 3466

✨ Financial Statements Notes



CENTRALINES LIMITED - Lines Business

Notes to the Financial Statements

For the year ended 31 March 2005

Note 3: Income Tax

| | 2005
$000 | 2004
$000 |
|----------------|----------------|
| Taxation | |
| Operating surplus before taxation | 1,389 | 1,680 |
| Prima facie tax @ 33% | 458 | 554 |
| Permanent differences | 378 | 172 |
| Timing differences not recognised | (328) | (479) |
| Prior period adjustments | (15) | (242) |
| Taxation expense/(benefit) | 493 | 5 |

Taxation expense/(benefit) is represented by:

| | 2005
$000 | 2004
$000 |
|----------------|----------------|
| Current tax | 493 | 5 |

The Company has not recognised a deferred tax liability of $3.4 million (2004 $2.5 million)

Imputation credit account

| | 2005
$000 | 2004
$000 |
|--------------------------|----------------|
| Opening balance | 1,677 | 699 |
| Prior period adjustment | - | - |
| Taxation paid | 556 | 1,056 |
| Taxation refund received | (25) | - |
| Imputation credits attached to dividends paid | - | (78) |
| Closing balance | 2,208 | 1,677 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 142


Gazette.govt.nz — PDF NZ Gazette 2005, No 142




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
Financial statements, Income tax, Taxation expense, Imputation credit account, Centralines Limited