Notes to the annual financial statements
for the year ended 28 February 2010
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| 2010 Rm |
2009 Rm |
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| 14. | Deferred tax | |||
| The movement in deferred tax is as follows: | ||||
| At 1 March | 99.8 | 105.8 | ||
| Recognised in the statement of comprehensive income (note 5.1) | (10.2) | (15.5) | ||
| Participation in export partnerships | 7.9 | 4.2 | ||
| Property, equipment and vehicles | (50.9) | (27.4) | ||
| Operating leases | 7.6 | 7.2 | ||
| Retirement benefits | (8.8) | (13.9) | ||
| Prepayments | (0.1) | 0.6 | ||
| Allowance for impairment losses | 20.7 | 9.1 | ||
| Income and expense accruals | 13.4 | 4.7 | ||
| Recognised in equity | ||||
| Tax effect of foreign currency translations | (4.9) | 7.0 | ||
| Tax effect of actuarial losses | 13.4 | 2.5 | ||
| At 28 February | 98.1 | 99.8 | ||
| Comprising: | ||||
| Participation in export partnerships | (51.6) | (59.5) | ||
| Property, equipment and vehicles | (99.1) | (48.2) | ||
| Operating leases | 164.4 | 156.8 | ||
| Retirement benefits and actuarial losses | 6.9 | 2.3 | ||
| Prepayments | (4.3) | (4.2) | ||
| Allowance for impairment losses | 31.4 | 10.7 | ||
| Income and expense accruals | 82.1 | 68.7 | ||
| Foreign currency translation | (31.7) | (26.8) | ||
| Total deferred tax asset | 98.1 | 99.8 | ||
| In respect of Score Supermarkets Operating Limited Group and Interfrank Group Holdings Pty Limited (Franklins) in Australia, there are approximately R275.4 million and R400.5 million, respectively, of estimated tax losses available for set-off against future taxable income, for which no deferred tax assets have been raised. | ||||
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