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BUSINESS MODEL
AND STRATEGIC
OBJECTIVES
LEADERSHIP
GOVERNANCE
OPERATING
PERFORMANCE
SHAREHOLDERS’
INFORMATION AND
ADMINISTRATION
FINANCIAL
PERFORMANCE
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
249
NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
2014
R’000
2013
R’000
16.
FINANCE COSTS/(INCOME)
Interest paid
– Bank
1
3
– Other
774
397
775
400
Interest received
– Bank
(527)
(48)
– Loans
(7 279)
(3 582)
– Other
—
—
(7 806)
(3 630)
Net finance income
(7 031)
(3 230)
17.
TAXATION
Current tax
505
8 311
Current year
—
7 938
Prior year adjustment
505
373
Deferred tax
(1 040)
(7 906)
Current year
(1 040)
(7 906)
(535)
405
Tax rate reconciliation
Net loss before tax
(23 242)
(63 860)
Tax at 28%
(6 508)
(17 882)
Income not subject to tax
(3 882)
—
Expenditure not deductible for tax purposes
10 190
17 914
Prior year adjustment
505
373
Capital gains tax
(840)
—
(535)
405