| 2014 Rm |
2013 Rm |
||
8. |
Deferred tax |
||
| Deferred tax liabilities to be settled within 12 months | 30 | 6 | |
| Deferred tax liabilities to be settled after 12 months | 103 | 113 | |
| 133 | 119 | ||
| There are unrecognised temporary differences of R1 506 million relating to a capital loss (2013: R nil) | |||
| Deferred income taxes are calculated at the prevailing tax rates. | |||
| The movement on the deferred income tax account is as follows: | |||
| Beginning of the year | 119 | 2 | |
| Income tax expense (note 13) | 19 | 26 | |
| Prior year under/(over) provision (note 13) | (5) | – | |
| Charge to equity | – | 91 | |
| End of the year | 133 | 119 | |
| Deferred tax liabilities are attributable to the following items: | |||
| Recognised directly in profit or loss | |||
| Present value adjustment of fees and loans | 133 | 119 |