NOTES TO THE FINANCIAL STATEMENTS - NOTE 42


 

        Group     Company  
    Note   2014
Rm
    2013
Rm
    2014
Rm
    2013
Rm
 
42. Income tax                          
  Current tax     193     200          
  Deferred tax 11   1 944     1 656     1 520     2 117  
  Reversal of temporary differences     3 999     3 566     3 235     4 027  
  Tax losses     (2 055)     (1 910)     (1 715)     (1 910)  
        2 137     1 856     1 520     2 117  

          2014                 2013        
    Before tax
Rm
    Tax
Rm
    After tax
Rm
    Before tax
Rm
    Tax
Rm
    After tax
Rm
 
  Income tax recognised in other comprehensive income                                  
  Group                                  
  Available-for-sale financial assets                                  
  Net change in fair value (377)     106     (271)     43     (12)     31  
  Cash flow hedges 4 471     (1 252)     3 219     1 992     (556)     1 436  
  Effective portion of changes in fair value 5 697     (1 595)     4 102     2 791     (780)     2 011  
  Net amount transferred to initial carrying amount of hedged items (1 226)     343     (883)     (799)     224     (575)  
  Foreign currency translation differences (23)         (23)     (49)         (49)  
  Remeasurement of post-employment medical benefits 882     (251)     631     (772)     207     (565)  
    4 953     (1 397)     3 556     1 214     (361)     853  
  Company                                  
  Available-for-sale financial assets                                  
  Net change in fair value (376)     105     (271)     43     (12)     31  
  Cash flow hedges 4 471     (1 252)     3 219     1 992     (556)     1 436  
  Effective portion of changes in fair value 5 697     (1 595)     4 102     2 791     (780)     2 011  
  Net amount transferred to initial carrying amount of hedged items (1 226)     343     (883)     (799)     224     (575)  
  Remeasurement of post-employment medical benefits 912     (255)     657     (765)     214     (551)  
    5 007     (1 402)     3 605     1 270     (354)     916  

    Group     Company  
    2014
%
    2013
%
    2014
%
    2013
%
 
  Reconciliation of the effective tax rate                      
  Taxation as a percentage of profit before tax 23.34     26.54     21.89     26.83  
  Taxation effect of:                      
  Non-taxable income 4.80     3.17     6.27     2.64  
  Expenses not deductible for tax purposes (0.14)     (1.71)     (0.16)     (1.47)  
  Standard tax rate 28.00     28.00     28.00     28.00