New Zealand Gazette – 2006 – No. 154

Page 4497

✨ Financial Statements Notes



28 NOVEMBER 2006

NEW ZEALAND GAZETTE, No. 154

4497

NGC Gas Transmission Activities

Notes to the Financial Statements

For the Year Ended 30 June 2006

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

  1. Expenses
$Thousands
2006 2005
Depreciation 12,867 13,336
Audit Fees 118 118
Leasing Costs 108 55
Movement in Provision for Doubtful Debts (147) -
Interest Expense 18,273 -
  1. Income Tax

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

$Thousands
2006 2005
Surplus before Taxation 18,640 45,168
Income Tax at 33% 6,152 14,905
Adjustments to Taxation for Non-deductible Items:
Income Tax (Under)/Over Provided in Previous Periods (42) 150
Non Taxable Income (181) -
Other Non-Deductible Items 1,185 1,183
Taxation Expense in Statement of Financial Performance 7,114 16,238
Income Tax Expense is Represented by:
Tax Payable in Respect of the Current Year 10,691 17,201
Deferred Taxation (Refer Note 2b) (3,577) (963)
7,114 16,238


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 154


Gazette.govt.nz — PDF NZ Gazette 2006, No 154




✨ LLM interpretation of page content

💰 Certification of NGC Gas Transmission Financial Statements (continued from previous page)

💰 Finance & Revenue
28 November 2006
Financial Statements, Gas Transmission, Certification, Gas (Information Disclosure) Regulations 1997