106 / 166
2017
R’000
2016
R’000
16.
DEFERRED TAXATION
Deferred taxation assets
922 847
491 766
Deferred taxation liabilities
(743 471)
(524 243)
Net deferred taxation asset (liability)
179 376
(32 477)
Movement in net deferred taxation assets and liabilities
Balance at beginning of year
(32 477)
83 961
Per consolidated statement of profit or loss
157 328
(48 953)
Items recognised directly in equity and other comprehensive income
(5 871)
39 838
Transfer as a result of unbundling
–
(163 926)
On acquisition of businesses
56 666
5 695
On disposal of businesses
69
(1 514)
Exchange rate adjustments
3 661
52 422
Balance at end of year
179 376
(32 477)
Assets
R’000
Liabilities
R’000
Net
R’000
Temporary differences
2017
Differential between carrying values and tax values of property, plant and equipment
(17 970)
(240 805)
(258 775)
Differential between carrying values and tax values of intangible assets
28 196
(60 915)
(32 719)
Estimated taxation losses
66 046
787
66 833
Staff-related allowances and liabilities
234 700
14 947
249 647
Operating lease liabilities
6 445
(71)
6 374
Inventories
15 289
477
15 766
Investments
–
(182 453)
(182 453)
Trade and other receivables
71 608
5 085
76 693
Trade, other payables and provisions
518 533
(280 523)
238 010
922 847
(743 471)
179 376
2016
Differential between carrying values and tax values of property, plant and equipment
(52 102)
(269 344)
(321 446)
Differential between carrying values and tax values of intangible assets
26 188
(138 140)
(111 952)
Estimated taxation losses
104 049
11 388
115 437
Staff-related allowances and liabilities
222 633
(200 821)
21 812
Operating lease liabilities
3 987
31
4 018
Inventories
13 650
273
13 923
Investments
–
(36 077)
(36 077)
Trade and other receivables
55 178
14 573
69 751
Trade, other payables and provisions
118 183
93 874
212 057
491 766
(524 243)
(32 477)
Deferred taxation has been provided at rates ranging between 12% and 34% (2016: 5% and 36%). The variance in rates arises as a result
of the differing taxation and capital gains taxation rates present in the various countries in which the group operates.
FINANCIAL OVERVIEW
Notes to the consolidated financial statements
for the year ended June 30
FINANCIAL STAT MENTS
Annual integrated report 2017
Bid Corporation Limited
102