✨ Financial Statements Notes
17 AUGUST 2010 NEW ZEALAND GAZETTE, No. 103 2763
Notes to the financial statements
in New Zealand Dollars (000’s)
11 Investment property
| Group | Parent | |||
|---|---|---|---|---|
| 2010 | 2009 | 2010 | 2009 | |
| Balance at 1 April | 1,680 | 1,680 | - | - |
| Acquisitions | - | - | - | - |
| Change in fair value | (10) | - | - | - |
| Total: fair value balance at 31 March | 1,670 | 1,680 | - | - |
Investment property comprises the property at 229 Moray Place, Dunedin. The property was valued by Macpherson Valuation on 26 May 2010.
12 Other investments
| Group | Parent | |||
|---|---|---|---|---|
| Non-current investments | ||||
| Financial assets designated at fair value through profit or loss | 2010 | 2009 | 2010 | 2009 |
| 191,469 | 160,165 | 191,469 | 160,165 |
13 Taxation
Otago Community Trust has been exempt from income tax pursuant to section CW52 of the Income Tax Act 2007. This means that Fillmore House Limited is the only taxable entity in the Group.
| Group | Parent | |||
|---|---|---|---|---|
| 2010 | 2009 | 2010 | 2009 | |
| Current Tax | ||||
| (Deficit)/Surplus before tax | 35,649 | (16,751) | 35,640 | (16,685) |
| (Deficit)/Surplus attributable to tax exempt parent | 35,640 | 16,783 | 35,640 | 16,685 |
| (Deficit)/Surplus attributable to tax exempt subsidiaries | - | - | - | - |
| 9 | 32 | - | - | |
| Change in fair value of investment property | 10 | - | - | - |
| Tax depreciation | (26) | (28) | - | - |
| Tax surplus/(loss) | (7) | 4 | - | - |
| Current tax using company tax rate | (1) | 1 | - | - |
| Deferred Tax | | | | |
| Tax loss | (1) | 10 | - | - |
| Change in fair value of investment property | 5 | - | - | - |
| Applying tax rate of 30% | 4 | 10 | - | - |
Tax expense per Income Statement | 4 | 11 | - | - |
The effective tax rate is 0.001% (2009: 0.8%).
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NZ Gazette 2010, No 103
✨ LLM interpretation of page content
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Notes to the financial statements
(continued from previous page)
💰 Finance & RevenueFinancial statements, Investment property, Taxation, Valuation
- Macpherson, Valuation of investment property