Notes to the Group financial statements

for the year ended 30 June

	R million	2014	2013
20.	DEFERRED TAX
	Balance at beginning of year	287	275
	Credited to the statement of comprehensive income	(55)	(8)
	Prior year over provision	(31)	(16)
	Adjustment due to rate change	–	1
	Acquisition of a subsidiary	(2)	–
	Currency translation adjustments	6	30
	Charged to other comprehensive income	6	5
	Balance at end of year	211	287
	Deferred tax arises from the following temporary differences:
	Deferred tax liabilities
	Accelerated asset allowances
	Balance at beginning of year	683	597
	Reclassified from fair value adjustments	–	4
	Currency translation adjustments	2	47
	(Credited)/charged to statement of comprehensive income	(45)	35
		640	683
	To be recovered after more than 12 months	539	576
	To be recovered within 12 months	101	107
	Deferred tax assets
	Assessable losses	(253)	(261)
	Balance at beginning of year	(261)	(174)
	Currency translation adjustments	4	(40)
	Acquisition of subsidiary	(2)	–
	Adjustment due to rate change	–	1
	Charged/(credited) to statement of comprehensive income	6	(48)
	Disallowed accruals and provisions	(175)	(152)
	Balance at beginning of year	(152)	(133)
	Currency translation adjustments	–	3
	Reclassification from fair value adjustments	–	(13)
	Credited to statement of comprehensive income	(23)	(9)
	Fair value adjustments	(1)	17
	Balance at beginning of year	17	(15)
	Reclassification to disallowed accruals and provisions	–	13
	Reclassfication to PPE	–	(4)
	Currency translation adjustments	–	20
	Charged directly to other comprehensive income	6	5
	Credited to statement of comprehensive income	(24)	(2)
		(429)	(396)
	To be recovered after more than 12 months	(94)	(108)
	To be recovered within 12 months	(335)	(288)
	Net deferred tax liability	211	287
	Aggregate assets and liabilities on subsidiary company basis:
	Deferred tax assets	(249)	(214)
	Deferred tax liabilities	460	501
		211	287