✨ Financial Statements
25 NOVEMBER 2013 NEW ZEALAND GAZETTE, No. 155 4355
18. Deferred tax
LINES BUSINESS
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
| Balance at 1 July 2011 | Recognised in profit or loss | Recognised in other comprehensive income | Balance at 30 June 2012 | |
|---|---|---|---|---|
| $M | $M | $M | $M | |
| Property, plant and | 265.3 | (55.2) | (34.2) | 284.3 |
| equipment temporary | ||||
| differences | ||||
| Revenue deferral | 14.0 | (3.8) | 0.7 | 13.5 |
| Disarmament provision | (14.1) | (1.8) | 4.2 | (11.7) |
| Impairment | 154.1 | - | - | 156.6 |
| Total deferred tax | 258.3 | (60.8) | (29.3) | 303.4 |
| Balance at 30 June 2012 | Recognised in profit or loss | Recognised in other comprehensive income | Balance 30 June 2013 | |
|---|---|---|---|---|
| $M | $M | $M | $M | |
| Property, plant and | 284.3 | 2.4 | - | 303.4 |
| equipment temporary | ||||
| differences | ||||
| Revenue deferral | 13.5 | 0.6 | (2.9) | (1.9) |
| Disarmament provision | (11.7) | 1.2 | 4.8 | (4.8) |
| Impairment | 156.6 | - | - | 156.6 |
| Total deferred tax | 393.1 | 5.1 | 2.0 | 407.2 |
There are no unrecognised deferred tax balances (2012: nil).
Deferred tax is shown as a net liability. This disclosure reflects that the deferred tax balances relate to companies in the Transpower Consolidated Tax Group relate to the same jurisdiction, being the New Zealand Inland Revenue Department.
Property, plant and equipment temporary differences relate to deferred tax and accounting book values.
Fair value of net debt and derivatives relates to the differences between tax and accounting values.
Revenue deferral relates to deferred tax on customer investment contracts and transmission line realignment.
Disarmament provision relates to the HVOC Pole 1, refer to Note 15 Provisions for background.
Impairment relates to the NIGU property, refer to Note 13 Non current assets for background.
Dividend withholding payments
There were no dividend withholding payments during the year (2012: none).
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NZ Gazette 2013, No 155
✨ LLM interpretation of page content
💰 Deferred Tax Balances for Transpower New Zealand Limited Lines Business
💰 Finance & RevenueDeferred tax, Financial statements, Transpower, Property, Revenue deferral, Disarmament provision, Impairment