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INCOME TAX EXPENSE (Table) | 12 Months Ended
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Jun. 30, 2020
Major components of tax expense (income) [abstract] |
Components of tax expense or income including tax reconciliation and unrecognised tax [text block] |
| Amounts in R million | 2020 | 2019 | 2018
| Current tax | (263.2) | 1.6 | (6.4)
| Mining tax | (263.2) | - | -
| Non-Mining, company and capital gains tax | - | 1.6 | (6.4)
| Deferred tax | (80.7) | (28.2) | (19.5)
| Deferred tax charge - Mining tax | (59.1) | (14.8) | (10.4)
| Deferred tax charge - Non-mining, company and capital gains tax | (2.1) | 1.6 | 3.7
| Deferred tax rate adjustment | (20.7) | (15.0) | (12.8)
| Recognition of previously unrecognised tax losses of a capital nature | 1.2 | - | -
|  | (343.9) | (26.6) | (25.9)
| Tax reconciliation |  |  |
| Major items causing the Group's income tax expense to differ from the statutory rate were: |  |  |
| Tax on net profit before tax at the South African corporate tax rate of 28% | (274.1) | (30.2) | (9.0)
| Rate adjustment to reflect the actual realised company tax rates applying the |  |  |
| gold mining formula | (0.9) | 7.4 | 3.5
| Deferred tax rate adjustment (a) | (20.7) | (15.0) | (12.8)
| Non-deductible expenditure (b) | (29.3) | (11.9) | (9.8)
| Utilisation of tax losses for which deferred tax assets were previously unrecognised | - | - | 2.6
| Current year tax losses for which no deferred tax was recognised (c) | (23.5) | (2.7) | (0.8)
| Exempt income and other non-taxable income | 2.4 | 4.4 | -
| Other items | 0.4 | 16.8 | -
| Tax incentives | 0.6 | 1.7 | 0.4
| Recognition of previously unrecognised tax losses of a capital nature | 1.2 | - | -
| Over provided in prior periods | - | 2.9 | -
| Income tax | (343.9) | (26.6) | (25.9)
(a) Deferred tax rate adjustment The forecast weighted average deferred tax rate increased from 22.0% to 25.0% as a result of a n in crease in forecast taxable income of Ergo (2019: increased from 20.3% to 22.0% due to the in crease in forecast taxable income of Ergo; 2018: in creased from 18.6% to 20.3% due to an in crease in forecast taxable income of Ergo). (b) Non-deductible expenditure The most significant non-deductible expenditure incurred by the Group during the year includes: R 73.2 million depreciation on fair value of property, plant and equipment of FWGR to which the initial recognition exemption applies in terms of IAS 12 Income Taxes (2019: R 16.6 million); R 7.1 million discount recognised on Payments made under protest (2019: R 6.5 million; 2018: R 8.8 million); R 14.6 million net operating cost related to Ergo Business Development Academy Not for Profit Company that is not deductible as it is exempt from income tax (2019: R 11.3 million; 2018: R 7.5 million); and R 2.7 million expenditure not incurred in generation of taxable income (2019: R 6.0 million; 2018: R 15.0 million).
Deferred tax assets and liabilities |
| Amounts in R million | 2020 | 2019
| Included in the statement of financial position as follows: |  |
| Deferred tax assets | 8.0 | 10.0
| Deferred tax liabilities | (273.1) | (193.2)
| Net deferred tax liabilities | (265.1) | (183.2)
| Reconciliation of the deferred tax balance: |  |
| Balance at the beginning of the year | (183.2) | (155.0)
| Recognised in profit or loss | (80.7) | (28.2)
| Recognised in other comprehensive income | (1.2) | -
| Balance at the end of the year | (265.1) | (183.2)
| The detailed components of the net deferred tax liabilities which result from the differences between the amounts of assets and liabilities recognised for financial reporting and tax purposes are:
| Amounts in R million | 2020 | 2019
| Deferred tax liabilities |  |
| Property, plant and equipment (excluding unredeemed capital allowances) | (422.4) | (380.2)
| Environmental rehabilitation obligation funds | (51.4) | (32.0)
| Other temporary differences 1 | - | (0.6)
| Investments | (1.2) | -
| Gross deferred tax liabilities | (475.0) | (412.8)
| Deferred tax assets |  |
| Environmental rehabilitation obligation | 126.5 | 112.6
| Other provisions | 72.6 | 33.8
| Other temporary differences 1 | 8.5 | -
| Estimated capital losses | 1.2 | -
| Estimated unredeemed capital allowances | 1.1 | 83.2
| Gross deferred tax assets | 209.9 | 229.6
| Net deferred tax liabilities | (265.1) | (183.2)
| 1 Includes the temporary differences on the lease liability |  |
| Deferred tax assets have not been recognised in respect of the following:
| Amounts in R million | 2020 | 2019
| Provisions | 20.3 | -
| Estimated tax losses | 22.0 | 19.4
| Estimated tax losses - Capital nature | 324.0 | 329.9
| Unredeemed capital expenditure | 254.7 | 254.8

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- Definition The disclosure of types of temporary differences, unused tax losses and unused tax credits. [Refer: Unused tax credits [member]; Unused tax losses [member]; Temporary differences [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2019-01-01 -Paragraph 81 -Subparagraph g -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=12&code=ifrs-tx-2019-en-r&anchor=para_81_g&doctype=Standard -URIDate 2019-03-27 + Details
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