New Zealand Gazette – 2009 – No. 116

Page 2673

✨ Financial Statements



10 AUGUST 2009 NEW ZEALAND GAZETTE, No. 116 2673

Notes to the financial statements

in New Zealand Dollars ($000’s)

11 Investment property

Group Parent
2009 2008 2009 2008
Balance at 1 April 1,580 1,580 - -
Acquisitions - - - -
Change in fair value - 100 - -
Total fair value balance at 31 March 1,680 1,680 - -

Investment property comprises the property at 229 Moray Place, Dunedin. The property was valued by Macpherson Valuation on 25 March 2009.

12 Other investments

Group Parent
2009 2008 2009 2008
Non-current investments
Financial assets designated at fair value through profit or loss 160,165 189,143 160,165 189,143

13 Taxation

Otago Community Trust has been exempt from income tax pursuant to section CW52 of the Income Tax Act 2007. This means that Fillmor House Limited is the only taxable entity in the Group.

Group Parent
2009 2008 2009 2008
Current Tax
(Deficit)/Surplus before tax (16,751) 3,860 (16,685) 3,756
(Deficit)/Surplus attributable to tax exempt parent 16,783 (3,756) 16,685 (3,756)
(Deficit)/Surplus attributable to tax exempt subsidiaries - - - -
32 104 - -
Change in fair value of investment property - (100) - -
Tax depreciation (28) (30) - -
Tax surplus/(loss) 4 (26) - -
Current tax using company tax rate of 33% 1 - - -

| Deferred Tax | | | | |
| Tax loss | 10 | (8) | - | - |
| Change in fair value of investment property | - | 39 | - | - |
| Applying tax rate of 30% | 10 | 31 | - | - |

Tax expense per Income Statement | 11 | 31 | - | - |

The effective tax rate is 0.8% (2007: 0.3%)



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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2009, No 116




✨ LLM interpretation of page content

💰 Notes to the Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial statements, Investment property, Other investments, Taxation, Fair value, Income tax, Deferred tax