4.0 - Imperial
4.0 - Imperial
4.0 - Imperial
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Notes to the company annual financial statements continued...<br />
for the year ended 30 June 2009<br />
9. Exceptional items<br />
2009 2008<br />
Profit on sale/unbundling of subsidiaries and businesses 58 65<br />
Profit on the sale of Tourvest 637<br />
Write-down of investments in subsidiaries, loans to subsidiaries and associates (1 444) (594)<br />
Rm<br />
Rm<br />
(750) (529)<br />
10. Net financing cost<br />
Interest paid 52 51<br />
Finance income (2) (1)<br />
50 50<br />
11. Taxation<br />
Taxation charge<br />
South African normal taxation<br />
– Current 1<br />
– Prior year underprovision 63 2<br />
Deferred<br />
– Tax rate adjustment (4)<br />
– Capital gains 24<br />
Current capital gains 46<br />
Secondary tax on companies 62<br />
172 22<br />
Reconciliation of tax rates % %<br />
Profit before taxation – effective rate (173,7) 8,3<br />
Taxation effect of:<br />
– Secondary tax on companies 63,5<br />
– Disallowable charges 425,4 (67,6)<br />
– Exempt income (396,8) 111,6<br />
– Fair value adjustment on call option (32,7)<br />
– Capital gains 46,0 9,1<br />
– Tax rate adjustment (1,5)<br />
– Prior year underprovision 63,7 0,8<br />
28,0 28,0<br />
12. Dividends and other distributions<br />
Refer to note 33 of the group annual financial statements.<br />
128<br />
<strong>Imperial</strong> holdings limited Annual Report 2009
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