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1090-P1

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Note 11: Income Tax Expense

GROUP PARENT
  Note 2013
$000 		2012
$000 		2013
$000 		2012
$000
Profit before income tax 160,429 170,943 167,630 181,384
Tax on profit @ 28% 44,920 47,864 46,936 50,788
Foreign tax rate adjustment (301) (254) - -
Tax effect of non-assessable revenue (6,724) (4,114) 678 973
Income tax over provided in prior year (817) (2,174) (809) (1,748)
Adjustment to tax depreciation on buildings - (2,031) - (2,182)
37,078 39,291 46,805 47,831
Represented by:
Current tax 39,464 46,298 44,321 50,980
Deferred tax 29 (2,386) (7,007) 2,484 (3,149)
37,078 39,291 46,805 47,831
           
The 28% tax rate used above is the corporate tax rate payable by New Zealand corporate entities on taxable profit under New Zealand tax law.

Better together

For customer service queries:

0800 87 87 87

Or to join Trustpower now:

0800 36 98 45

© 2020 Trustpower