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| Bidcorp Limited Annual integrated report 2016
Notes to the Company financial statements
for the year ended June 30
2016
R’000
2015
R’000
1.
NET FINANCE INCOME
Finance income
2 437
375
Interest income on bank balances
1 983
–
Interest income on subsidiary loans
454
371
Other interest income
–
4
Finance charges
Interest expense on bank overdrafts
(2 251)
–
186
375
2.
TAXATION
Current taxation
2 321
214
Current year
2 267
313
Prior years’ under (over) provision
54
(99)
Foreign withholding tax
2 123
734
Total taxation per statement of profit or loss
4 444
948
Comprising
South African taxation
4 444
948
The reconciliation of the effective tax rate with the South African company tax rate is:
%
%
Taxation for the year as a percentage of profit before taxation
0,4
0,1
Dividend and exempt income
27,6
27,9
Rate of South African company taxation
28,0
28,0