Group |
Company |
||||||||||||
18. Deferred taxation |
2015 Rm |
2014 Rm |
2015 Rm |
2014 Rm |
|||||||||
| 236 | (3) | 250 | – | ||||||||||
| Opening balance | (3) | 23 | – | – | |||||||||
| Profit and loss movements* | 112 | 131 | 111 | 157 | |||||||||
| Capital allowances | 23 | 16 | 22 | 17 | |||||||||
| Provisions and other allowances | 96 | 143 | 96 | 137 | |||||||||
| Underprovision prior year | (7) | (23) | (7) | 3 | |||||||||
| Tax losses | – | (5) | – | – | |||||||||
| Reclassification of Trudon as held for sale | (12) | – | – | – | |||||||||
| Other comprehensive income tax impact (refer note 11) | 139 | (157) | 139 | (157) | |||||||||
| The balance comprises: | 236 | (3) | 250 | – | |||||||||
| Capital allowances | 17 | 2 | 35 | 20 | |||||||||
| Provisions and other allowances | 237 | 152 | 233 | 137 | |||||||||
| OCI | (18) | (157) | (18) | (157) | |||||||||
| Deferred taxation balance is made up as follows: | 236 | (3) | 250 | – | |||||||||
| Deferred taxation assets | 250 | 13 | 250 | – | |||||||||
| Deferred taxation liabilities | (14) | (16) | – | – | |||||||||
Deferred tax assets are recognised for deductible temporary differences to the extent of the related tax benefit through future taxable profits is probable. The group did not recognise deferred tax assets of R1 341 million ( 2014: R1 880 million) in respect of temporary differences amounting to R4 792 million ( 2014: R6 714 million) that can be carried forward against future taxable income.
| * Profit and loss movements for 2014 in note 9 were restated for the impact on the reclassification of the Trudon group as a discontinued operation. |