NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2004
NOTE 4: STATEMENT OF TAX EQUIVALENT
In respect of the year ended 30 June 2004, the Corporation's tax equivalent liability has been calculated in accordance with the Treasurer's Instructions issued under the Government Business Enterprises Act 1995 as amended, which requires TASCORP to account for income tax based on accounting profit.
2003-04
A$’000
2002-03
A$’000
Profit from ordinary activities before Tax Equivalent Expenses
8,984
8,822
Prima facie tax on profit from ordinary activities at 30%
2,695
2,647
Tax Equivalent Expense attributable to profit from Ordinary Activities
