Company Notes
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Notes to the Company Annual Financial Statements
for the year ended 30 June 2011 |
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2011
R’million |
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2010
R’million |
 |
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| 5. |
DEFERRED TAX |
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Deferred tax is calculated in full on temporary differences under the liability method using a principal tax rate of 28%. |
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Deferred tax balance |
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Deferred tax assets – opening balance |
(29,4) |
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(12,9) |
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Prior year adjustment – statement of comprehensive income charge |
(0,6) |
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– |
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Statement of comprehensive income charge |
(10,2) |
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(3,4) |
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Charged to equity |
(7,1) |
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(13,1) |
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Balance at the end of the year |
(47,3) |
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(29,4) |
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The statement of comprehensive income charge comprises |
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Property, plant and equipment |
0,1 |
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– |
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Intangible assets |
(0,1) |
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(3,1) |
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Leave pay |
– |
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(0,3) |
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Royalties received in advance |
– |
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(0,6) |
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Preference shares issued |
1,4 |
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1,6 |
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Tax claims in respect of share schemes |
(0,7) |
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(1,2) |
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Tax losses |
(8,5) |
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– |
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Other |
(3,0) |
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0,2 |
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(10,8) |
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(3,4) |
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Deferred tax asset comprises |
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Property, plant and equipment |
0,3 |
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0,2 |
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Intangible assets |
33,7 |
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33,8 |
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Leave pay |
(0,9) |
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(0,9) |
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Royalties received in advance |
(22,3) |
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(22,3) |
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Preference shares issued |
(1,3) |
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(2,7) |
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Tax claims in respect of share schemes |
(41,6) |
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(37,4) |
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Tax losses |
(12,1) |
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– |
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Other |
(3,1) |
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(0,1) |
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Balance at the end of the year |
(47,3) |
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(29,4) |
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