NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS – NOTE 17

    2015
R’000
      2014
R'000
 
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%  

NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS – NOTE 17