| |
GROUP
June 2016
R000 |
|
GROUP
June 2015
R000 |
|
| Major components of the taxation expense |
|
|
|
|
| Current taxation – current year |
7 891 |
|
12 353 |
|
| – prior year |
(520) |
|
33 |
|
| Deferred taxation – current year |
43 636 |
|
6 637 |
|
| – prior year |
(77) |
|
|
|
| Taxation for the year |
50 930 |
|
19 023 |
|
| Reconciliation of taxation charge |
|
|
|
|
| Profit before taxation at 28% |
789 065 |
|
1 063 608 |
|
| REIT dividend |
(422 919) |
|
(369 493) |
|
| Permanent differences |
(327 005) |
|
(675 445) |
|
| Prior year taxation adjustment |
|
|
|
|
| Income taxation |
3 657 |
|
33 |
|
| Deferred taxation |
6 099 |
|
|
|
| Reversal of deferred taxation on investment property disposals |
|
|
(9 082) |
|
| Deferred taxation asset not recognised |
40 848 |
|
14 384 |
|
| Adjustment in respect of foreign tax rates |
(38 563) |
|
(4 982) |
|
| Security transfer tax |
(252) |
|
|
|
| Taxation expense recognised in the statement of profit or loss and other comprehensive income |
50 930 |
|
19 023 |
|
| The taxation rate applied in the reconciliations is 28%. |
|
|
|
|
| |
|
|
|
|
| Permanent differences comprise the following: |
|
|
|
|
| Change in fair value of: |
|
|
|
|
| Investment property |
(353 398) |
|
(673 968) |
|
| Derivative instruments |
14 891 |
|
(5 476) |
|
| Convertible loan |
3 865 |
|
|
|
| Straight-line rental income accrual |
(24 381) |
|
(16 824) |
|
| Profit on disposal of assets |
|
|
(6 788) |
|
| African Land restructure |
|
|
24 119 |
|
| Other |
32 018 |
|
3 492 |
|
| Total permanent differences |
(327 005) |
|
(675 445) |
|