✨ Financial Statements
Vector Limited
Electricity Lines Business
Notes to the Financial Statements
For the year ended 31 March 2005
4. INTEREST EXPENSE
| | 2005
$000 | 2004
$000 |
|--------------------------|----------|----------|
| Interest expense | | |
| Interest expense on borrowings | 111,830 | 108,034 |
| Financing charges related to finance leases | - | - |
| Other interest expense | - | - |
Total interest expense | 111,830 | 108,034 |
5. INCOME TAX
| | Note | 2005
$000 | 2004
$000 |
|--------------------------|------|----------|----------|
| Operating surplus before income tax | | 103,934 | 93,774 |
| Prima facie tax at 33% | | 34,298 | 30,945 |
| Plus/(loss) tax effect of permanent differences: | | | |
| Prior period adjustment | | - | (1,463) |
| Other permanent differences | | 15,932 | 19,661 |
Income tax expense | | 50,230 | 49,143 |
The income tax expense is represented by:
| | | 2005
$000 | 2004
$000 |
|--------------------------|------|----------|----------|
| Current tax | | 26,642 | 25,481 |
| Deferred tax | 7 | 23,588 | 23,662 |
Total | | 50,230 | 49,143 |
6. INCOME TAX
| | 2005
$000 | 2004
$000 |
|--------------------------|----------|----------|
| Balance at beginning of year | 25,130 | 11,227 |
| Tax paid | (19,814) | (11,200) |
| On net surplus for the year | 26,642 | 25,481 |
| Loss offset benefit | - | (378) |
Balance at end of year | 31,958 | 25,130 |
7. DEFERRED TAX
| | Note | 2005
$000 | 2004
$000 |
|--------------------------|------|----------|----------|
| Balance at beginning of year | | 205,923 | 182,261 |
| Prior period adjustment | | - | (325) |
| On net surplus for the year | 5 | 23,588 | 23,987 |
Balance at end of year | | 229,511 | 205,923 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 147
Gazette.govt.nz —
NZ Gazette 2005, No 147
✨ LLM interpretation of page content
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Vector Limited's Financial Position
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🏭 Trade, Customs & IndustryFinancial Statements, Interest Expense, Income Tax, Deferred Tax, Vector Limited