New Zealand Gazette – 2008 – No. 30

Page 654

✨ Financial Statements



654 NEW ZEALAND GAZETTE, No. 30 19 FEBRUARY 2008

3. Taxation

2007
$000		 2006
$000
Profit/(loss) before taxation 272 217
Prime facie taxation at 33% 90 72
Plus/(less)
Taxation effect of permanent differences 2 578
Timing differences not recognised 265 (779)
Benefit of tax losses (21) 273
Taxation expense (benefit) $336 $-

The company has a potential deferred tax liability net of future tax benefits of
$14,437,402 (2006 - $13,410,406), which is not recognised in the financial statements.
This balance is made up of a deferred tax liability of $14,437,402 (2006 - $13,496,956)
which arises mainly from the revaluation of assets for accounting purposes, and a future
tax benefit of $0 (2006 - $86,550). These balances are not expected to crystallise and
therefore have not been recorded in the financial statements.

The future tax benefit above comprises the benefit of tax losses available to carry
forward of $0 (2006 - $30,349) and the benefit of other timing differences of $0 (2006 -
$56,201).

The carrying forward of tax losses is subject to continuing to meet shareholder continuity
requirements under the Income Tax Act 1994.

The company has imputation credits to carry forward as at 31 March 2007 of $1,109,154
(2006 - $394,029)

4. Dividend

2007
$000		 2006
$000
Dividend Paid $185 $160

Dividends were paid, during the year to the Electra Trust. There is no proposed final
dividend (2006 - $Nil).



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2008, No 30


Gazette.govt.nz — PDF NZ Gazette 2008, No 30




✨ LLM interpretation of page content

💰 Electra Limited - Taxation and Dividend Details (continued from previous page)

💰 Finance & Revenue
Taxation, Profit, Deferred tax liability, Dividend, Imputation credits