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AFRICAN DAWN Annual Report 2016

continued Notes to the Financial Statements Annual Financial Statements For the year ended 29 February 2016 8. Deferred tax Asset/ Deferred tax liability Group Company 2016 R’000 2015 R’000 2016 R’000 2015 R’000 Deferred tax liability - intangible asset on acquisition of Knife Capital Group (1,125) (1,493) - - Deferred tax assets 381 128 - - Net deferred tax liability (744) (1,365) - - Reconciliation of deferred tax asset/liability At beginning of year (1,365) - - - Business combination Knife Capital Group assessed loss (refer to note 32) - 54 - - Assessed loss raised/(utilized) during the year against current income tax 152 (54) - - Deferred tax raised on acquisition of Knife Capital Group intangible assets. (Refer to note 32) - (1,833) - - Deferred tax effect of amortisation of intangible asset raised on Knife Capital Group (refer to note 32) 370 340 - - Temporary difference trade debtors bad debt allowance 138 - - - Temporary difference on leave pay accrual (39) 51 - - Temporary difference on deferred income - 77 - - (744) (1,365) - - 68 AFRICAN DAWN ANNUAL REPORT 2016


AFRICAN DAWN Annual Report 2016
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