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2009 |
|
2008 |
|
|
|
R’000 |
|
R’000 |
10. |
TAXATION |
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|
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|
South African normal tax |
|
20 445 |
|
|
|
– current year |
|
365 |
|
– overprovision relating to prior years |
|
(1) |
|
– |
|
Capital gains tax |
|
2 672 |
|
3 129 |
|
|
|
23 116 |
|
3 494 |
|
The company has unused credits in respect of secondary tax on companies of R689,6 million |
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(2008: R271,7 million). A deferred tax asset has not been raised on these amounts as there |
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is no certainty that the credits will be utilised in the foreseeable future. |
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Reconciliation of tax rate (%) |
|
28,00 |
|
|
|
Statutory tax rate |
|
28,00 |
|
Adjusted for: |
|
(45,23) |
|
|
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Dividend income |
|
(29,32) |
|
Exempt income |
|
(0,40) |
|
(2,64) |
|
Capital gains tax on disposal of available-for-sale investments |
|
0,20 |
|
1,32 |
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Disallowable expenditure |
|
19,52 |
|
4,11 |
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Other |
|
(0,37) |
|
– |
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Effective tax rate |
|
1,72 |
|
1,47 |
|