TE TŌTARAHOE O PAERANGI TRUST GROUP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 2021 Income Tax Losses
Income tax losses available to be carried forward total $9,513 (2020: $1,258,890) Tax losses are made up as follows:
Tax Loss opening balance Tax Loss incurred Tax Losses utilised Prior Period Adjustment
Group 2021
2020
$
$
1,258,289 (111,394) (1,137,382)
1,258,289 -
9,513
1,258,289
Closing Tax Losses to Carry Forward
Prior period adjustment relates to an adjustment made in the 2020 tax return to correct income incorrectly recorded as non-taxable in the 2020 financial year. This had no impact on tax payable to the IRD and only changes the amount of tax losses available to carry forward.
Māori Authority Credit Account (MACA) 2021
Group
NGĀTI RANGI ANNUAL REPORT PŪRONGO Ā-TAU 2020/2021
$
64
2020 $
Opening Balance Tax Paid Tax refunded RWT received Credits attached to distribution
94,534 -
-
Closing Māori Authority Credit Account (MACA)
94,534
-
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