✨ Financial Statements
3966 NEW ZEALAND GAZETTE, No. 158 26 NOVEMBER 2010
NGC HOLDINGS LIMITED
GAS TRANSMISSION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2010
4. DEFERRED TAX
| PROPERTY, PLANT AND EQUIPMENT | PROVISIONS AND ACCRUALS | TOTAL | |
|---|---|---|---|
| $\000 | $\000 | $\000 | |
| 2010 | |||
| Balance at beginning of the period | (92,759) | 927 | (91,832) |
| Amounts recognised in the statement of comprehensive income: | |||
| Relating to the current period | 2,790 | (208) | 2,582 |
| Prior period adjustments recognised in the current period | (416) | 1,029 | 613 |
| Relating to future reduction in tax rate | 6,069 | (123) | 5,946 |
| Relating to future change in buildings depreciation rules | (676) | - | (676) |
| Amounts recognised directly in the statement of financial position | 30 | 113 | 143 |
| Balance at end of the period | (84,962) | 1,738 | (83,224) |
| Deferred tax assets | - | 1,738 | 1,738 |
| Deferred tax liabilities | (84,962) | - | (84,962) |
| Net deferred tax (liabilities) / assets | (84,962) | 1,738 | (83,224) |
| PROPERTY, PLANT AND EQUIPMENT | PROVISIONS AND ACCRUALS | TOTAL | |
|---|---|---|---|
| $\000 | $\000 | $\000 | |
| 2009 | |||
| Balance at beginning of the period | (93,905) | 1,756 | (92,149) |
| Amounts recognised in the statement of comprehensive income: | |||
| Relating to the current period | 2,441 | (767) | 1,674 |
| Prior period adjustments recognised in the current period | (41) | (62) | (103) |
| Amounts recognised directly in the statement of financial position | (1,254) | - | (1,254) |
| Balance at end of the period | (92,759) | 927 | (91,832) |
| Deferred tax assets | - | 927 | 927 |
| Deferred tax liabilities | (92,759) | - | (92,759) |
| Net deferred tax (liabilities) / assets | (92,759) | 927 | (91,832) |
The tax charge is notional, therefore no actual tax payments are made and as a result there are no imputation credits available to the gas transmission activities.
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NZ Gazette 2010, No 158
✨ LLM interpretation of page content
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Notes to the Financial Statements for NGC Holdings Limited
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Deferred Tax, Property, Plant and Equipment, Provisions and Accruals