Contents
NOTES TO THE
ANNUAL FINANCIAL STATEMENTS
for the year ended 30 September 2006
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Commentary
Directors’ responsibility
Secretaries’ certification
Report of the independent auditors
Directors’ report
Accounting policies
Income statements
Balance sheets
Cash flow statements
Notes to the cash flow statements
Statements of changes
in equity
Notes to the annual financial statements
Principal subsidiaries
Share ownership analysis
Shareholders’ diary
Corporate administration and information
Currency conversion table
Notice of annual general meeting - PDF 106kb
Proxy form - PDF 82kb
 
    GROUP   COMPANY
    2006 
Rm 
 
2005 
Rm 
(Restated)
  2006 
Rm 
 
2005 
Rm 
(Restated)
6. TAXATION          
  South African normal taxation:          
  – Current 356,8  257,7    128,3  130,4 
  – Prior 0,6  8,7    (0,2) 3,7 
  Deferred taxation:          
  – Current 31,4  31,5    17,1  3,1 
  – Prior 7,3  (3,7)   4,6  27,1 
  Secondary Tax on Companies (STC):          
  – Current 99,3  32,0    74,9   14,2 
  – Prior —  (0,9)   (0,8)
    495,4  325,3    224,7  177,7 
  Foreign normal taxation:          
  Current 5,1  1,2       
    500,5  326,5    224,7  177,7 
  Reconciliation of rate of taxation  
  Effective rate of taxation 37,4  33,7    27,4  23,7 
  Movement in rate of taxation due to:          
  – Applicable to dividends received 0,1  0,4    12,1  12,0 
  – Disallowable charges (0,7) (1,9)   (0,8) (0,7)
  – Secondary tax on companies (7,4) (3,3)   (9,1) (1,9)
  – Adjustments from prior year (0,6) (0,9)   (0,6) (4,1)
  – Timing differences not recognised (0,1) —    —  — 
  – Tax losses utilised not recognised previously 0,1  1,8    —  — 
  – Foreign tax rate differential 0,2  —       
  – Tax losses not recognised —  (0,8)   —  — 
  South African normal tax rate 29,0  29,0    29,0  29,0 
Total estimated tax losses available to be offset against future taxable income are R30,4 million (2005: R51,9 million). The company has a capital gains tax loss of R21,6 million (2005: R24,9 million) which can be offset against future capital gains. A deferred tax asset has not been raised due to the uncertainty of any future capital gains.
   
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