| |
|
|
| |
|
|
2020
R’000 |
2020
R’000 |
| 223 604 |
167 353 |
30 |
– |
| |
Current year |
220 571 |
170 066 |
30 |
– |
| |
Prior year |
2 608 |
(2 737) |
– |
– |
| |
Securities transfer tax |
425 |
24 |
– |
– |
| (17 863) |
(11 488) |
12 732 |
688 |
| |
Current year |
(23 819) |
(2 766) |
41 |
688 |
| |
Prior year |
6 006 |
(8 718) |
12 691 |
– |
| |
Income tax on remeasurement of post-employment benefit obligations |
(50) |
(4) |
– |
– |
|
|
|
|
|
|
|
| |
|
|
205 741 |
155 865 |
12 762 |
688 |
| |
|
|
|
| |
South African normal tax rate |
28.00% |
28.00% |
28.00% |
28.00% |
| |
Adjusted for: |
|
|
|
|
| |
Disallowable expenses |
2.45% |
3.31% |
3.53% |
9.75% |
| |
|
Donations not subject to Section 18A |
0.04% |
0.04% |
– |
– |
| |
|
Share transaction cost |
0.03% |
– |
0.11% |
– |
| |
|
Dual nature expenses |
0.43% |
0.54% |
– |
9.75% |
| |
|
Non-allowable legal fees |
0.13% |
0.32% |
– |
– |
| |
|
Non-allowable consulting fees |
0.04% |
0.14% |
– |
0.03% |
| |
|
Foreign exchange gain |
– |
0.07% |
– |
– |
| |
|
Loss on sale of assets |
– |
(0.01%) |
– |
– |
| |
|
Impairment of loans |
0.13% |
1.24% |
– |
– |
| |
|
Impairment of investments |
0.76% |
0.61% |
– |
– |
| |
|
Impairment of intangible assets |
0.45% |
– |
– |
– |
| |
|
Fair value loss on investments |
0.16% |
– |
– |
– |
| |
|
Waiver of debt |
0.01% |
– |
– |
– |
| |
|
Depreciation on buildings |
0.03% |
– |
– |
– |
| |
|
Penalties and interest |
0.04% |
(0.01%) |
– |
(0.03%) |
| |
|
Non-trading expenses |
0.20% |
0.37% |
3.42% |
– |
| |
Non-taxable income |
(2.45%) |
(0.37%) |
(0.27%) |
(0.12%) |
| |
|
Share of profits from associates |
(0.33%) |
(0.36%) |
– |
– |
| |
|
Fair value gain on investments |
– |
0.11% |
– |
(0.12%) |
| |
|
Investment capital received |
– |
– |
(0.27%) |
– |
| |
|
Employment Tax Incentive |
(0.15%) |
(0.12%) |
– |
– |
| |
|
Reversal of impairment of intangible assets |
(1.91%) |
– |
– |
– |
| |
|
Foreign exchange gain |
(0.06%) |
0.00% |
– |
– |
| |
Exempt income |
(0.54%) |
(1.49%) |
(31.23%) |
(36.07%) |
| |
|
Foreign income exempt in terms of Double Taxation Agreement |
(0.54%) |
(1.49%) |
– |
– |
| |
|
Dividends received |
– |
– |
(31.23%) |
(36.07%) |
| |
Other deductible expenses |
(0.50%) |
(0.69%) |
– |
– |
| |
|
Learnership allowance |
(0.30%) |
(0.69%) |
– |
– |
| |
|
Venture capital allowance |
(0.20%) |
– |
– |
– |
| |
Rate differences |
0.31% |
(0.85%) |
– |
– |
| |
Prior year adjustment |
|
|
|
|
| |
– current tax |
0.61% |
(0.68%) |
– |
– |
| |
– deferred tax |
0.87% |
(1.28%) |
– |
– |
| |
Withholding tax |
0.18% |
(0.62%) |
7.09% |
– |
| |
Security transfer tax |
0.06% |
– |
– |
– |
| |
Unutilised capital loss |
(0.30%) |
– |
– |
– |
| |
Unrecognised assessed loss |
0.76% |
(0.30%) |
– |
(0.18%) |
| |
|
29.45% |
25.03% |
7.12% |
1.38% |