✨ Financial Statements
4890 NEW ZEALAND GAZETTE, No. 186 28 NOVEMBER 2008
20. Deferred tax
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
LINES BUSINESS
Balance 1 July 2006 $
$(59,254)
Depreciation timing differences
Fair value of net debt and derivatives
(1,931)
Revenue deferral
(6,690)
Dismantling provision
(246)
Other deferred tax
(34,079)
Total deferred tax
(153,240)
Recognised in profit or loss $
2,831
Depreciation timing differences
31,974
Fair value of net debt and derivatives
88
Revenue deferral
(7,256)
Dismantling provision
(27,637)
Other deferred tax
_
Balance 30 June 2007 $
162,025
Depreciation timing differences
33,005
Fair value of net debt and derivatives
(3,347)
Revenue deferral
(13,234)
Dismantling provision
(872)
Other deferred tax
(76,600)
Recognised in equity $
91
(3,236)
Recognised in profit or loss $
(3,437)
(13,234)
88
11.5
_
(4,535)
Balance 30 June 2008 $
$
158,645
20,370
(844)
(5,685)
_
176,014
There are no unrecognised deferred tax balances (2007: nil).
Deferred tax is shown net as the balance relates to companies included in the Lines Business Tax Group and relate to the same counterparty, being the New Zealand Inland Revenue Department.
Deferred tax differences relate to the difference between tax and accounting depreciation.
Fair value of net debt and derivatives relates to deferred tax on fair value gains/losses.
Revenue deferral relates to deferred tax, new investments agreements and transmission realignment. Note 3 Deferred Income contains information on these transactions.
Disallowing provision relates to the HVDC Pole 1, refer to Note 17 Provisions for background.
Imputation credit memorandum account $
LINES BUSINESS
Balance at the beginning of the year
211,384
Imputation credits on dividends received
Net tax payments/transfers made/refunds received
(46,014)
Imputation credits attached to dividends paid to shareholders
(46,335)
Balance at the end of the year
211,384
2007 $
$
211,384
_
48,807
(46,356)
211,384
2008 $
$
165,034
_
165,034
Dividend Withholding Payments
There were no dividend withholding payments during the year (2007: none).
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NZ Gazette 2008, No 186
✨ LLM interpretation of page content
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Transpower New Zealand Limited Lines Business Provisions
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