Notes to the Company financial statements

for the year ended 30 June

		R million	2014	2013
	4.	TAX
		Current tax – current year	(16)	(14)
		– prior year	1	(2)
		Deferred tax – current year	13	(5)
		Withholding tax	(1)	(4)
			(3)	(25)
		Reconciliation of rate of tax
		Standard rate – South African	28.0%	28.0%
		Adjusted for:
		Exempt income	(29.0%)	(28.1%)
		Disallowable expenses	1.4%	2.5%
		Prior year (over)/under provision	(0.1%)	0.2%
		Withholding tax	0.1%	0.5%
		Effective tax rate	0.4%	3.1%