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Notes to the separate financial statements
for the year ended June 30
2017
R’000
2016
R’000
1.
NET FINANCE INCOME
Finance income
4 942
2 437
Interest income on bank balances
4 455
1 983
Interest income on subsidiary loans
487
454
Finance charges
Interest expense on bank overdrafts
–
(2 251)
4 942
186
2.
TAXATION
Current taxation
5 148
2 321
Current year
4 497
2 267
Prior years’ under provision
651
54
Foreign withholding tax
–
2 123
Total taxation per profit or loss
5 148
4 444
Comprising
South African taxation
5 148
4 444
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
0,3
0,4
Dividend and exempt income
28,2
27,6
Non-deductible expenses
(0,5)
–
Rate of South African company taxation
28,0
28,0
141
Annual integrated report 2017
Bid Corporation Limited