| NOTES TO THE FINANCIAL STATEMENTS l NOTE 27 |
|
27. |
Taxation |
| |
| |
GROUP
June 2014
R000 |
|
GROUP
June 2013
R000 |
|
COMPANY
June 2014
R000 |
|
COMPANY
June 2013
R000 |
|
| Major components of the taxation expense |
|
|
|
|
|
|
|
|
| Current taxation — current year |
1 896 |
|
1 927 |
|
|
|
|
|
| Current taxation — prior year |
86 |
|
|
|
62 |
|
|
|
| Deferred taxation — current year |
17 725 |
|
(2 240 935) |
|
17 885 |
|
(2 240 894) |
|
| Deferred taxation — prior year |
(1 988) |
|
|
|
(1 988) |
|
|
|
| Tax for the year/period |
17 719 |
|
(2 239 008) |
|
15 959 |
|
(2 240 894) |
|
| Reconciliation of taxation charge |
|
|
|
|
|
|
|
|
| Net profit before taxation at 28% |
552 807 |
|
419 115 |
|
509 612 |
|
417 719 |
|
| Permanent differences |
(562 173) |
|
(439 105) |
|
(514 721) |
|
(439 105) |
|
| Prior year tax adjustment |
|
|
|
|
|
|
|
|
| Income tax |
86 |
|
1 552 |
|
62 |
|
|
|
| Deferred tax |
(1 988) |
|
|
|
(1 988) |
|
|
|
| Capital gains taxation |
|
|
10 414 |
|
|
|
10 414 |
|
| Unrecognised deferred tax asset |
30 166 |
|
|
|
19 280 |
|
|
|
| Adjustment in respect of Hyprop Investments (Mauritius) Limited |
(4 893) |
|
(1 062) |
|
|
|
|
|
| REIT reversal |
3 714 |
|
(2 229 922) |
|
3 714 |
|
(2 229 922) |
|
| Taxation expense recognised in statements of comprehensive income |
17 719 |
|
(2 239 008) |
|
15 959 |
|
(2 240 894) |
|
Hyprop converted to a REIT from 1 July 2013. South African REITs are not subject to capital gains taxation. Therefore 100% of deferred
capital gains taxation was eliminated through the statement of comprehensive income on 30 June 2013.
The taxation rate applied in the reconciliations above was 28%. |
|
| NOTES TO THE FINANCIAL STATEMENTS l NOTE 27 |
|
|