|
DEFERRED INCOME TAX
|
|
2019
Rm |
| The gross movements on the deferred tax account are as follows: |
|
|
|
| Net deferred liability at 1 April |
|
160 |
217 |
| Income statement credit |
|
(34) |
(38) |
| Acquisition of business |
|
3 |
– |
| Currency translation |
|
(15) |
(13) |
| IFRS 16 implementation |
|
(23) |
– |
| Transfer |
|
– |
(6) |
| Net deferred tax liability at 31 March |
|
91 |
160 |
The movement in deferred tax assets and liabilities during the year, without taking into account the offsetting of balances
of entities within the group, is as follows:
|
|
| Deferred tax liabilities |
|
|
|
|
|
|
|
|
| Balance at 1 April 2018 |
|
490 |
2 |
(173) |
(7) |
(48) |
264 |
|
| Income statement expense/(credit) |
|
(3) |
(17) |
(11) |
1 |
(4) |
(34) |
|
| Transfer |
|
– |
– |
(6) |
– |
– |
(6) |
|
| Currency translation |
|
(12) |
– |
– |
– |
– |
(12) |
|
| Balance at 31 March 2019 |
|
475 |
(15) |
(190) |
(6) |
(52) |
212 |
|
| Income statement expense/(credit) |
|
20 |
(73) |
(36) |
1 |
63 |
(25) |
|
| Acquisition of business |
|
– |
3 |
– |
– |
– |
3 |
|
| Transfer |
|
1 |
– |
(1) |
– |
– |
– |
|
| Currency translation |
|
(15) |
– |
– |
– |
– |
(15) |
|
| Deferred tax liability at 31 March 2020 |
|
481 |
(85) |
(227) |
(5) |
11 |
175 |
|
| Deferred tax assets |
|
|
|
|
|
|
|
|
| Balance at 1 April 2018 |
|
11 |
– |
(16) |
(5) |
(37) |
(47) |
|
| Income statement (expense)/credit |
|
– |
– |
(1) |
(1) |
(3) |
(5) |
|
| Balance at 31 March 2019 |
|
11 |
– |
(17) |
(6) |
(40) |
(52) |
|
| Restatement for change in accounting policy – adoption of IFRS 16 Leases(2) |
|
– |
(23) |
– |
– |
– |
(23) |
|
| Restated balance at 1 April 2019 |
|
11 |
(23) |
(17) |
(6) |
(40) |
(75) |
|
| Income statement (expense)/credit |
|
– |
(8) |
(2) |
3 |
(2) |
(9) |
|
| Deferred tax asset at 31 March 2020 |
|
11 |
(31) |
(19) |
(3) |
(42) |
(84) |
|
| Total net deferred tax liability/(asset) |
|
492 |
(116) |
(246) |
(8) |
(31) |
91 |
|
| (1) |
Includes investment property and prepaid expenditure. |
| (2) |
Refer note 1(b). |
Deferred tax assets of R84 million have been recognised for tax losses carried forward and other temporary differences.
These relate to certain subsidiaries within the group and the asset has been recognised to the extent that the realisation
of the related tax benefit through future taxable profits is probable. An assessment of future taxable profits has been
performed at a relevant subsidiary level based on budgets that take into account the impact of COVID-19 and the
reopening of hotels in the group’s subsidiaries.
|
