| |
2018
R’000 |
|
|
2017
R’000 |
|
| Deferred taxation assets |
761 368 |
|
|
728 913 |
|
| Deferred taxation liabilities |
(1 209 549) |
|
|
(1 014 705) |
|
| Net deferred taxation liability |
(448 181) |
|
|
(285 792) |
|
| Movement in net deferred taxation assets and liabilities |
|
|
|
|
|
| Balance at beginning of year |
(285 792) |
|
|
(264 655) |
|
| Per consolidated income statement |
(14 927) |
|
|
(33 698) |
|
| Arising on consolidation of the Bidvest Education Trust |
(22 830) |
|
|
– |
|
| Items recognised directly in equity, other comprehensive income |
38 549 |
|
|
133 962 |
|
| On acquisition of businesses |
(224 249) |
|
|
(124 198) |
|
| On disposal of business |
97 789 |
|
|
14 437 |
|
| Exchange rate adjustments |
(36 721) |
|
|
(11 640) |
|
| Balance at end of year |
(448 181) |
|
|
(285 792) |
|
|
|
|
|
|
|
| |
Assets
R’000 |
|
|
Liabilities
R’000 |
|
|
Net
R’000 |
|
| Temporary differences |
|
|
|
|
|
|
|
|
| 2018 |
|
|
|
|
|
|
|
|
| Differential between carrying values and tax values of property, plant and equipment |
(11 788) |
|
|
(609 759) |
|
|
(621 547) |
|
| Differential between carrying values and tax values of intangible assets |
(14 423) |
|
|
(582 863) |
|
|
(597 286) |
|
| Estimated taxation losses |
120 789 |
|
|
30 324 |
|
|
151 113 |
|
| Staff-related allowances and liabilities |
449 545 |
|
|
55 357 |
|
|
504 902 |
|
| Operating lease liabilities |
43 837 |
|
|
2 055 |
|
|
45 892 |
|
| Inventories |
41 771 |
|
|
6 156 |
|
|
47 927 |
|
| Investments |
(1 189) |
|
|
(166 479) |
|
|
(167 668) |
|
| Trade and other receivables |
25 976 |
|
|
(22 306) |
|
|
3 670 |
|
| Trade, other payables and provisions |
106 850 |
|
|
77 966 |
|
|
184 816 |
|
| |
761 368 |
|
|
(1 209 549) |
|
|
(448 181) |
|
|
|
|
|
|
|
|
|
|
| 2017 |
|
|
|
|
|
|
|
|
| Differential between carrying values and tax values of property, plant and equipment |
(25 883) |
|
|
(686 085) |
|
|
(711 968) |
|
| Differential between carrying values and tax values of intangible assets |
(14 286) |
|
|
(367 713) |
|
|
(381 999) |
|
| Estimated taxation losses |
81 815 |
|
|
41 109 |
|
|
122 924 |
|
| Staff-related allowances and liabilities |
435 027 |
|
|
65 832 |
|
|
500 859 |
|
| Operating lease liabilities |
47 283 |
|
|
(2 337) |
|
|
44 946 |
|
| Inventories |
49 886 |
|
|
(9 481) |
|
|
40 405 |
|
| Investments |
(1 249) |
|
|
(129 890) |
|
|
(131 139) |
|
| Trade and other receivables |
29 956 |
|
|
(4 432) |
|
|
25 524 |
|
| Trade, other payables and provisions |
126 364 |
|
|
78 292 |
|
|
204 656 |
|
| |
728 913 |
|
|
(1 014 705) |
|
|
(285 792) |
|
Deferred taxation has been provided at rates ranging between 10% – 45% (2017: 10% – 35%). The variance in rates arises as a
result of the differing taxation and capital gains taxation rates present in the various countries in which the Group operates.