Notes to the consolidated financial statements

for the year ended June 30

		2012 R’000	2011 R’000
4.	Taxation
	Current taxation	1 592 849	1 263 985
	Current year	1 620 284	1 288 810
	Prior years over provision	(27 435)	(24 825)
	Deferred taxation	(7 549)	121 764
	Current year	(24 391)	145 456
	Prior years under (over) provision	14 627	(23 156)
	Change in rate of taxation	2 215	(536)
	Secondary taxation on companies	99 756	132 487
	Foreign withholding taxation	10 402	9 933
	Total taxation per consolidated income statement	1 695 458	1 528 169

	Comprising
	South African taxation	1 056 534	1 015 922
	Foreign taxation	638 924	512 247
		1 695 458	1 528 169

		2012 %	2011 %
	The reconciliation of the effective tax rate with the company tax rate is:
	Taxation for the year as a percentage of profit before taxation	26,4	28,8
	Associates	0,3	0,5
	Secondary taxation on companies	(1,5)	(2,5)
	Effective rate excluding secondary taxation on companies and associate income	25,2	26,8
	Dividend and exempt income	3,7	1,2
	Foreign taxation rate differential	(0,2)	(0,4)
	Non-deductible expenses	(1,1)	(1,5)
	Utilisation of deferred taxation assets not previously raised	0,1	0,1
	Capital gains taxation exempt portion	0,1	0,9
	Changes in prior years' estimation	0,2	0,9
	Rate of South African company taxation	28,0	28,0

		R’000	R’000
	Estimated tax losses available for offset against future taxable income	413 376	369 082
	Utilised in the computation of deferred taxation	(192 033)	(179 122)
	Not accounted for in deferred taxation	221 343	189 960


	Deferred taxation assets have not been recognised in respect of these tax losses as the directors believe it is not probable that the relevant companies will generate taxable profit in the near future, against which the benefits can be utilised.