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INCOME TAX EXPENSE (Tables)
12 Months Ended
Jun. 30, 2021
Income tax [abstract]  
Components of tax expense or income including tax reconciliation and unrecognised tax [text block]
Amounts in R million
2021
2020
2019
Current tax
(423.7)
(263.2)
1.6
Mining tax
(423.7)
(263.2)
-
Non-Mining, company and capital gains tax
-
-
1.6
Deferred tax
(100.0)
(80.7)
(28.2)
Deferred tax charge - Mining tax
(104.0)
(59.1)
(14.8)
Deferred tax charge - Non-mining, company and capital gains tax
(19.1)
(2.1)
1.6
Deferred tax rate adjustment
-
(20.7)
(15.0)
Recognition of previously unrecognised tax losses
7.8
-
-
(Derecognition)/recognition of previously unrecognised tax losses of a capital
nature
(1.2)
1.2
-
Recognition of previously unrecognised deductible temporary differences
16.5
-
-
(523.7)
(343.9)
(26.6)
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
%
(549.9)
(274.1)
(30.2)
Rate adjustment to reflect the actual realised company tax rates applying the
gold mining formula
3.7
(0.9)
7.4
Deferred tax rate adjustment (a)
-
(20.7)
(15.0)
Depreciation of property, plant and equipment exempt from deferred tax on
 
initial recognition (b)
(21.2)
(21.4)
 
1
(4.9)
 
1
Non-deductible expenditure (c)
 
(6.2)
(7.9)
 
1
(7.0)
 
1
Exempt income and other non-taxable income (d)
22.8
2.4
4.4
Recognition of previously unrecognised deductible temporary differences
16.5
-
-
(Derecognition)/recognition of previously unrecognised tax losses of a capital
nature
(1.2)
1.2
-
Utilisation of tax losses for which deferred tax assets were previously
 
unrecognised
7.8
-
-
Current year tax losses for which no deferred tax was recognised
(0.1)
(23.5)
(2.7)
Other items
3.3
0.4
16.8
Tax
 
incentives
0.8
0.6
1.7
Over provided in prior periods
-
-
2.9
Income tax
(523.7)
(343.9)
(26.6)
 
1
During 2021, the Group disaggregated “Non-deductible
 
expenditure” into “Non-deductible expenditure”
 
and “Depreciation of property, plant
and equipment exempt from deferred tax on initial
 
recognition” respectively to present material items
 
separately
Deferred tax assets and liabilities
Amounts in R million
2021
2020
Included in the statement of financial position as follows:
Deferred tax assets
5.8
8.0
Deferred tax liabilities
(377.1)
(273.1)
Net deferred tax liabilities
(371.3)
(265.1)
Reconciliation of the deferred tax balance:
Balance at the beginning of the year
(265.1)
(183.2)
Recognised in profit or loss
(100.0)
(80.7)
Recognised in other comprehensive income
(6.2)
(1.2)
Balance at the end of the year
(371.3)
(265.1)
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
2021
2020
Deferred tax liabilities
Property, plant and equipment (excluding unredeemed capital allowances)
(494.4)
(422.4)
Environmental rehabilitation obligation funds
(60.2)
(51.4)
Other investments
(7.4)
(1.2)
Gross deferred tax liabilities
(562.0)
(475.0)
Deferred tax assets
Environmental rehabilitation obligation
124.5
126.5
Other provisions
46.7
72.6
Other temporary differences
 
1
14.3
8.5
Estimated tax losses
4.1
-
Estimated tax losses - Capital nature
-
1.2
Estimated unredeemed capital allowances
1.1
1.1
Gross deferred tax assets
190.7
209.9
Net deferred tax liabilities
(371.3)
(265.1)
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
2021
2020
Provisions
-
20.3
Estimated tax losses
16.7
22.0
Estimated tax losses - Capital nature
325.2
324.0
Unredeemed capital expenditure
253.3
254.7
Deferred tax
 
assets for
 
tax losses,
 
unredeemed capital
 
expenditure and
 
capital losses
 
have not
 
been recognised
 
where future
taxable profits against which these can be utilised are not anticipated. These do not have an expiry date.