18. Deferred tax Group 2022 2021 Restated* R’m R’m Deferred tax assets: Provisions 93 97 Tax losses carried forward 99 95 End of year 192 192 Deferred tax liabilities: Unrealised gains on investments 494 791 Unrealised gains on land and buildings revaluation 8 7 End of year 502 798 Current asset – –* Non-current asset 192 192* Non-current liability 502 798 * The prior year deferred tax asset was reclassified to non-current. The movement in the deferred tax assets and liabilities during the year is as follows: a. Deferred tax assets on provisions and computed tax losses Group R’m At 1 January 2021 179 Recognised in profit or loss 13 At 31 December 2021 192 Recognised in profit or loss – At 31 December 2022 192 The utilisation of the deferred tax asset in respect of the tax losses is dependent on the relevant Group entities making future taxable profits. The deferred tax asset is assessed as recoverable based on the probability of the future taxable profits of the entity. b. Deferred tax liabilities Group Investments Land and buildings Total R’m R’m R’m At 1 January 2021 384 10 394 Recognised in profit or loss 407 – 407 Recognised directly in equity – (3) (3) At 31 December 2021 791 7 798 Recognised in profit or loss (297) – (297) Recognised directly in equity – 1 1 At 31 December 2022 494 8 502 147 Notes to the Consolidated Financial Statements
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