Earlier this week Netprophet reported on how results in the current reporting round for listed companies have been distorted by more than $1 billion. (Story here)

In this article we link to examples of how deferred tax works. This document has been prepared by Rob Challinor.

Also below we have a table showing the deferred tax “liabilities” for NZX-listed companies. These liabilities come about as a result of the application of International Financial Reporting Standards to withdrawal of tax depreciation on buildings which the government announced in this year's Budget.

Company Deferred Tax Adjustment ($millions) AMP Office Trust 93 Auckland Airport 89 Briscoe Group 3 Cavalier 4 Contact Energy 34 Fisher & Paykel Healthcare 11 Fletcher Building 30 Freightways 6 Goodman Fielder 16 Goodman Property Trust 130 ING Medical Properties Trust 15 ING Property Trust 96 Kiwi Income Property Trust 132 Metlifecare 45 M & C Hotels 26 OneSteel 4 Port of Tauranga 10 Ports of Auckland 4 Property for Industry 36 Queenstown Airport 6 Skellerup Holdings 11 Sky City 40 Steel and Tube 4 Telecom 30 Vector 21 The Warehouse Group 23 Total

$919 million

 

The figures above are the reported or estimated additional ‘”liability” at 19 August 2010. No responsibility for the accuracy of these numbers is accepted. If individually quoted, a direct check should be made with the relevant company website.

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