2015	2014
		R’000	R’000
24	TAXATION
	South African normal taxation
	– current year	151 552	218 444
	– (over)/under provision relating to prior years	(1 127)	2 831
	Deferred taxation
	– reversal of temporary differences in current year (refer note 15)	(61 781)	(1 516)
	Securities transfer taxation on redemption of preference dividends	228	1 490
	Dividend withholding tax, paid on dividends declared by structured entities	5 368	10 944
	Foreign taxation
	– current year in foreign subsidiary	8 053	8 293
		102 293	240 486
	Estimated losses available for the reduction of future taxable income arising in certain subsidiary companies at year-end, for which no deferred tax assets have been raised. These losses are current and have not expired	139 862	155 570
	Estimated unredeemed capital expenditure available for set off against future taxable income on mining operations in certain subsidiary companies	296 802	190 707
	Reconciliation of tax charge as percentage of profit before taxation	%	%
	Statutory tax rate	28,00	28,00
	Adjusted for:
	(Over)/under provision relating to prior years	(1,47)	–
	Securities transfer taxation on redemption of preference dividends	0,30	0,06
	Dividend withholding tax, paid on dividends declared by structured entities	6,99	1,56
	Deferred taxation assets on impairment charges not recognised (refer notes 2 and 4)	147,77	1,74*
	Disallowable expenditure	18,40	5,15*
	Exempt income	(16,71)	(1,67)
	Change in rate of trust taxation	0,92	–
	Other deferred taxation assets not recognised	(51,00)	–
	Other items	–	(0,39)
	Effective tax rate	133,21	34,45
	*Disallowable expenditure in the prior year has been restated in order to disclose the tax impact of impairment charges separately.