| |
| |
Group |
Company |
| |
2023
R'000 |
2022
R'000 |
2023
R'000 |
2022
R'000 |
| Deferred tax (liability) asset |
|
|
|
|
| Property, plant and equipment |
(380,697) |
(297,278) |
– |
(38) |
| Provisions and accruals |
99,670 |
137,280 |
– |
6,248 |
| Lease obligations |
2,446 |
3,495 |
– |
– |
| Trade and other receivables |
7,027 |
31,693 |
– |
– |
| Total deferred tax (liability) asset |
(271,554) |
(124,810) |
– |
6,210 |
Deferred tax asset
The deferred tax asset of the Company is 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 in the prior year is not recoverable and it is not probable that future taxable profits will be available against which
deductible temporary differences can be utilised. The deferred tax asset was reversed at 31 December 2023.
The Company had an assessable tax loss of R52m at 31 December 2023 (2022: R8m). The tax loss has no expiry date, and no
deferred tax asset have been raised on this loss.
| |
Group |
Company |
| |
2023
R'000 |
2022
R'000 |
2023
R'000 |
2022
R'000 |
| Deferred tax liability |
(271,554) |
(131,020) |
– |
– |
| Deferred tax asset |
– |
6,210 |
– |
6,210 |
| Total net deferred tax (liability) asset |
(271,554) |
(124,810) |
– |
6,210 |
| Reconciliation of deferred tax (liability) asset |
|
|
|
|
| At beginning of year |
(124,810) |
(88,832) |
6,210 |
3,394 |
| Temporary difference movement on property plant and equipment |
(83,456) |
(100,345) |
– |
(1) |
| Temporary difference on trade and other receivables |
(32,002) |
36,322 |
– |
– |
| Temporary difference on provisions and accruals |
(30,237) |
23,998 |
(6,210) |
3,054 |
| Temporary difference movement on leases |
(1,049) |
(501) |
– |
(7) |
| Change in tax rate |
– |
4,548 |
– |
(230) |
| |
(271,554) |
(124,810) |
– |
6,210 |
|
