| Notes to the Company annual financial statements l Note 18 |
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2017
R’000 |
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2016
R’000 |
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Current tax |
6 |
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— |
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Current year |
— |
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— |
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Adjustment in respect of prior year |
6 |
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— |
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Deferred tax |
(5 243) |
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5 902 |
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Current year |
(5 304) |
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6 241 |
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Adjustment in respect of prior year |
61 |
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(339) |
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(5 237) |
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5 902 |
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Tax rate reconciliation |
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Net profit before tax |
(97 846) |
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185 948 |
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Tax at 28% |
(27 397) |
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52 065 |
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Dividends received |
(4 047) |
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(2 749) |
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Fair value adjustments |
(329) |
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(6 473) |
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Investment impairment reversal |
— |
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(44 216) |
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Impairment of investments |
18 585 |
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— |
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Expenditure not deductible for tax purposes |
76 |
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1 212 |
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Expenditure of a capital nature |
7 808 |
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6 654 |
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Adjustment in respect of prior year |
67 |
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(339) |
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Capital gains tax |
— |
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(252) |
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(5 237) |
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5 902 |
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Effective tax rate |
5% |
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3% |
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| Notes to the Company annual financial statements l Note 18 |
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