New Zealand Gazette – 2005 – No. 199

Page 5044

✨ Financial Statements Notes



NGC – Gas Wholesaling 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
Audit Fees and Expenses
PricewaterhouseCoopers 10 10
Leasing Costs - -
Bad Debts Written Off - -
Movement in Provision for Doubtful Debts - -
  1. Income Tax
$Thousands
2005 2004

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

| Surplus before Taxation | 3,978 | 6,896 |
| Income Tax at 33% | 1,313 | 2,276 |
| Adjustments to Taxation for | | |
| Non-deductible Items: | | |
| Income Tax Over Provided in Previous Periods | 1 | - |
| Other Non-Deductible Items | 163 | - |
| Taxation Charge in Statement of Financial Performance | 1,477 | 2,276 |

Income Tax Expense is represented by:

| Tax Payable in Respect of the Current Year | 2,843 | 6,987 |
| Deferred Taxation (Refer Note 2b) | (1,366) | (4,711) |
| | 1,477 | 2,276 |



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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 Gas Wholesaling Activities (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Expenses, Income Tax, Gas Wholesaling, NGC