221 / 248
For the year ended 31 May 2015
219
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS
CONTINUED
2014
R’000
16.
FINANCE COSTS/(INCOME)
Finance costs
– Bank
1
1
– Other
6 283
774
6 284
775
Finance income
– Bank
(210)
(527)
– Loans
(11 586)
(7 279)
– Other
—
—
(11 797)
(7 806)
Net finance income
(5 513)
(7 031)
17.
TAXATION
Current tax
—
505
Current year
—
—
Adjustment in respect of prior year
—
505
Deferred tax
2 679
(1 040)
Current year
2 608
(1 040)
Adjustment in respect of prior year
71
—
2 679
(535)
Tax rate reconciliation
Net profit/(loss) before tax
47 944
(23 242)
Tax at 28%
13 424
(6 508)
Income not subject to tax
(309)
(3 882)
Income of a capital nature
(6 219)
—
Impairment reversal
(8 524)
—
Expenditure not deductible for tax purposes
4 236
10 190
Adjustment in respect of prior year
71
505
Capital gains tax
—
(840)
2 679
(535)
Effective tax rate
6%
2%
2015
R’000