✨ Financial Statement
4170 NEW ZEALAND GAZETTE, No. 172 27 NOVEMBER 2009
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
7. Income tax expense
| LINES BUSINESS | 2009 | 2008 |
|---|---|---|
| $'000 | $'000 |
Current tax expense
Current period | 38,940 | 40,330 |
Adjustment for prior periods | (373) | 1,358 |
| 38,567 | 41,688 |
Deferred tax expense
Origination and reversal of temporary differences | (17,006) | (4,535) |
Change in unrecognised temporary differences | - | - |
Recognition of previously unrecognised tax losses | - | - |
| (17,006)| (4,535) |
Total income tax expense (credit) |
| 18,307 | 37,153 |
Reconciliation of effective tax
Operating surplus before tax |
| 98,142 | 117,358 |
Income tax at 30c (2008: 33c) |
| 29,743 | 38,728 |
Tax effect of:
Non-deductible expenses |
| - | 564 |
Tax exempt income |
| - | - |
Recognition of previously unrecognised tax losses |
| - | - |
Current year losses for which no deferred tax asset was recognised |
| - | - |
Change in unrecognised temporary differences |
| - | - |
Under/(over) provided in prior periods |
| (11,436)| (2,139) |
Total income tax expense (credit) |
| 18,307 | 37,153 |
Income tax recognised directly in equity
Available for sale financial assets |
| (281) | (258) |
Total income tax recognised directly in equity |
| (281) | (258) |
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NZ Gazette 2009, No 172
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Transpower New Zealand Limited Income Tax Expense
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💰 Finance & RevenueIncome tax expense, Current tax expense, Deferred tax expense, Financial statement, Transpower New Zealand Limited