✨ Financial Statements
23 NOVEMBER 2012 NEW ZEALAND GAZETTE, No. 140 4107
18. Deferred tax
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
| Balance 1 July 2010 | Recognised in profit or loss | Recognised in other comprehensive income | Balance 30 June 2012 | |
|---|---|---|---|---|
| $M | $M | $M | $M | |
| Property, plant and equipment temporary differences | 212.7 | (35.5) | (4.6) | 264.3 |
| Fair value of net debt and derivatives | (35.9) | (1.6) | (4.0) | (49.4) |
| Revenue deferral | (3.9) | (1.1) | (0.1) | (4.9) |
| Disarmament provision | (2.7) | (0.8) | — | (3.5) |
| Other | (16.4) | (2.3) | (0.9) | (19.1) |
| Total deferred tax | 154.4 | (41.1) | (9.8) | 156.6 |
| Balance 30 June 2011 | Recognised in profit or loss | Recognised in other comprehensive income | Balance 30 June 2012 | |
|---|---|---|---|---|
| $M | $M | $M | $M | |
| Property, plant and equipment temporary differences | 235.3 | (55.2) | (4.0) | 264.3 |
| Fair value of net debt and derivatives | (65.2) | 3.8 | (3.5) | (69.4) |
| Revenue deferral | (4.0) | 0.7 | — | (3.5) |
| Disarmament provision | (3.8) | 0.1 | — | (3.1) |
| Other | (14.1) | 4.2 | (1.8) | (9.9) |
| Total deferred tax | 154.1 | (49.1) | (9.1) | 156.6 |
Deferred tax is shown net as the balances included in the Transpower Consolidated Tax Group and relate to the New Zealand Inland Revenue Department.
Property, plant and equipment temporary differences relate to the differences between tax and accounting book values.
Fair value of net debt and derivatives relates to deferred tax on customer investment contracts and transmission line reinstatement.
Revenue deferral relates to deferred tax on revenue recognised for accounting purposes over the life of these transactions.
Disarmament provision relates to the HVCDC Pole 1, refer to Note 13 Provisions for background.
Impairment relates to the NIGUP property, refer to Note 15 Non current assets for background.
Dividend Withholding Payments
There were no dividend withholding payments during the year (2011: none).
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NZ Gazette 2012, No 140
✨ LLM interpretation of page content
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Transpower New Zealand Limited Financial Statements
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🏭 Trade, Customs & IndustryDeferred tax, Property plant equipment, Revenue deferral, Disarmament provision, Dividend withholding payments