Notes to the Consolidated And Separate Annual Financial Statements | Note 22

22. INCOME TAX EXPENSE
22.1 Current taxation
 
  Group Company
2024 
R’000 		 2023 
R’000 		 2024 
R’000 		 2023 
R’000 
CURRENT TAXATION  146 295  157 071  22  54 
Current year  143 253  158 317  60  61 
Prior year  1 443  (2 884) (38) (7)
Foreign withholding tax – current  1 484  1 638  –  – 
Securities transfer tax  115  –  –  – 
DEFERRED TAXATION  (13 566) (25 417) –  – 
Current year  (766) (22 833) –  – 
Prior year  (12 819) (2 622) –  – 
Income tax on remeasurement of post-employment benefit 
obligations  19  38  –  – 
132 729  131 654  22  54 
22.2 Reconciliation of the tax rate
Group  Company 
2024  2023  2024  2023 
South African normal tax rate  27.00%  27.00%  27.00%  27.00% 
ADJUSTED FOR: 
DISALLOWABLE EXPENSES  40.04%  7.14%  34.17%  15.31% 
Donations not subject to Section 18A  0.10%  0.01%  0.00%  0.00% 
Share transaction cost  0.12%  0.06%  0.62%  0.34% 
Dual nature expenses  3.87%  1.32%  19.32%  7.41% 
Non-allowable legal fees  (0.93%) 0.11%  0.00%  0.00% 
Non-allowable consulting fees  2.45%  1.36%  10.15%  7.29% 
Loss on sale of assets  0.00%  0.09%  0.00%  0.00% 
Impairment of investments  1.91%  0.00%  0.00%  0.00% 
Impairment of property and equipment  0.00%  1.58%  0.00%  0.00% 
Impairment of loans  1.85%  1.61%  0.00%  0.00% 
Write off of intangible assets  30.11%  0.34%  0.00%  0.00% 
Actuarial gain  0.01%  (0.48%) 0.00%  0.00% 
Depreciation on buildings  (0.45%) 0.05%  0.00%  0.00% 
Share based payments  0.03%  0.06%  0.08%  0.27% 
Penalties and interest  1.76%  0.02%  4.00%  0.00% 
Non trading expenses  (0.79%) 0.82%  0.00%  0.00% 
Recoupment of allowance – de-grouping  0.00%  0.19%  0.00%  0.00% 
NON-TAXABLE INCOME  1.57%  (1.60%) 0.00%  (0.99%)
Share of profits from associates and joint ventures  1.18%  (0.89%) 0.00%  0.00% 
Fair value gain on investments  (0.23%) (0.47%) 0.00%  0.00% 
Financial guarantee  (0.06%) (0.07%) 0.00%  0.00% 
Employment Tax Incentive  (0.03%) (0.01%) 0.00%  0.00% 
Other Non-taxable income  0.71%  (0.16%) 0.00%  (0.99%)
EXEMPT INCOME  0.21%  (0.01%) (61.03%) (41.23%)
Dividends received  0.21%  (0.01%) (61.03%) (41.23%)
OTHER DEDUCTIBLE EXPENSES  (1.69%) (1.01%) 0.00%  0.00% 
Learnership allowance  (1.69%) (1.01%) 0.00%  0.00% 
Rate differences  0.51%  (0.50%) 0.00%  0.00% 
Prior year adjustment  0.00%  0.00%  0.00%  0.00% 
– current tax  0.70%  (0.68%) (0.09%) (0.01%)
– deferred tax  (6.19%) (0.61%) 0.00%  0.00% 
Capital gain/loss  (0.02%) 0.19%  0.00%  0.00% 
Withholding tax  0.72%  0.38%  0.00%  0.00% 
Unutilised capital (losses)/gains  (0.18%) 0.00%  0.00%  0.00% 
Securities transfer tax  0.06%  0.00%  0.00%  0.00%