| |
Deferred tax (liability)/asset
| |
Group |
Company |
| |
2022
R'000 |
2021
R'000 |
2022
R'000 |
2021
R'000 |
| Property plant and equipment |
(297,278) |
(207,871) |
(38) |
(87) |
| Provisions and accruals |
137,280 |
118,262 |
6,248 |
3,425 |
| Lease obligations |
3,495 |
4,156 |
— |
56 |
| Trade and other receivables |
31,693 |
(3,379) |
— |
— |
| Total deferred tax (liability)/asset |
(124,810) |
(88,832) |
6,210 |
3,394 |
Deferred tax asset
Deferred tax assets of the Company are reviewed at the end of each reporting period and are reduced to the extent that it is no longer probable that the related taxation benefits will be realised. Management is of the view that the deferred tax asset raised is recoverable and it is probable that future taxable profits will be available against which deductible temporary differences can be utilised.
The Company had an assessable tax loss of R8m at 31 December 2022 (2021: R20m). The tax loss does not have an expiry date and no deferred tax asset has been raised on this loss.
| |
Group |
Company |
| |
2022
R'000 |
2021
R'000 |
2022
R'000 |
2021
R'000 |
| Deferred tax liability |
(131,020) |
(92,226) |
— |
— |
| Deferred tax asset |
6,210 |
3,394 |
6,210 |
3,394 |
| Total net deferred tax (liability)/asset |
(124,810) |
(88,832) |
6,210 |
3,394 |
| Reconciliation of deferred tax (liability) / asset |
|
|
|
|
| At beginning of year |
(88,832) |
110,367 |
3,394 |
964 |
| Temporary difference movement on property plant and |
(100,345) |
(179,338) |
(1) |
23 |
equipment
Temporary difference on trade and other receivables |
36,322 |
(15,250) |
— |
— |
| Temporary difference on provisions and accruals |
23,998 |
(3,413) |
3,054 |
2,453 |
| Temporary difference movement on leases |
(501) |
(1,198) |
(7) |
(46) |
| Change in tax rate |
4,548 |
— |
(230) |
— |
| |
(124,810) |
(88,832) |
6,210 |
3,394 |
|
