New Zealand Gazette – 2005 – No. 199

Page 5028

✨ Financial Statements Notes



NGC – Gas Transmission Activities

Notes to the Financial Statements

For the Year Ended 30 June 2005

For the purposes of the Gas (Information Disclosure) Regulations 1997

1. Expenses

$Thousands
2005 2004
Depreciation 13,336 14,177
Audit Fees and Expenses
PricewaterhouseCoopers 118 128
Leasing Costs 55 48
Bad Debts Written Off - -
Movement in Provision for Doubtful Debts - 3

2. Income Tax

$Thousands
2005 2004

a) The Income Tax Expense has been calculated as follows:

| | | |
| Surplus before Taxation | 45,168 | 41,672 |
| Income Tax at 33% | 14,905 | 13,752 |
| Adjustments to Taxation for Non-deductible Items: |
| Income Tax Over Provided in Previous Periods | 150 | (29) |
| Other Non-Deductible Items | 1,183 | 1,182 |
| Taxation Charge in Statement of Financial Performance | 16,238 | 14,905 |

Income Tax Expense is represented by:

| | | |
| Tax Payable in Respect of the Current Year | 17,201 | 16,215 |
| Deferred Taxation (Refer Note 2b) | (963) | (1,310) |
| | 16,238 | 14,905 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 199


Gazette.govt.nz — PDF NZ Gazette 2005, No 199




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for NGC Gas Transmission Activities (continued from previous page)

🏭 Trade, Customs & Industry
30 June 2005
Financial Statements, Expenses, Income Tax, Depreciation, Audit Fees, Leasing Costs, Bad Debts, Taxation Charge, Deferred Taxation