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102
JOHN DANIEL HOLDINGS LIMITED AND ITS SUBSIDIARIES
INTEGRATED ANNUAL REPORT 2011
Notes to the Annual Financial Statements
- Continued
Annual Financial Statements for the 15 months ended 30 September 2011
24. Taxation
Major components of the tax income
Group
Company
2011
2010
2011
2010
Deferred
Originating and reversing temporary differences
(2 194 077)
(1 027 350)
(813 113)
(993 399)
Arising from previously unrecognised tax losses and
temporary difference
(5 241 247)
-
-
-
(7 435 324) (1 027 350)
(813 113)
(993 399)
Reconciliation of the tax expense
Reconciliation between applicable tax rate and average effective tax rate.
Applicable tax rate
28.00% 28.00%
28.00% 28.00%
Exempt income
3.44%
-%
0.96%
-%
Disallowable charges
(0.64)% (0.03)%
-% (21.86)%
Assessed losses not recognised
72.72% (17.81)% (0.39)% 2.06%
103.52% 10.16% 28.57% 8.20%
No provision has been made for 2011 tax as the group has no taxable income. The group’s estimated tax loss avail-
able for set off against future taxable income is R 40 207 236 (2010: R 31 760 816). The company’s estimated tax loss
available for set off against future taxable income is R 10 161 233 (2010: R 7 043 704).
25. Auditors’ remuneration
Group
Company
2010
2009
2010
2009
Fees
289 500
195 000
105 500
65 000
Adjustment for previous year
45 000
107 021
25 000
107 021
Expenses
3 944
-
-
-
338 444
302 021
130 500
172 021