COMPANY       GROUP
2015   2014     (R’million) 2015   2014  
        19 Deferred taxation asset        
        19.1 Movement of deferred taxation asset        
15,5   9,4     Balance at the beginning of the year 803,5   638,3  
          Net reallocation between deferred taxation asset and deferred taxation liability 27,5   –  
          Post-retirement medical aid taken to other comprehensive income –   7,7  
          Adjustment in respect of currency losses taken directly to non-distributable reserve 12,4   5,8  
          Exchange rate translation reserve 2,7   28,4  
12,4   6,1     Income statement movement – continuing operations (314,1)   123,3  
27,9   15,5     Balance at the end of the year (refer note 28.1) 532,0   803,5  
        19.2 Analysis of deferred tax asset        
          Losses available for offset against future taxable income 27,2   202,5  
          Provisions 443,9   482,4  
          Property, plant and equipment 3,6   89,9  
          Revaluation of loan 28,0   15,6  
27,9   15,5     Other temporary differences 29,3   13,1  
27,9   15,5       532,0   803,5  
          Disclosed on the statement of financial position as follows:        
(18,1)   (10,0)     Deferred tax asset (50,5)   (306,9)  
–   –     Deferred tax liability 200,3   279,1  
(18,1)   (10,0)     Net deferred tax liability/(asset) 149,8   (27,8)  

Assessed losses available for offset against future taxable income have been recognised as it is probable, based on future cash flows, that there will be future taxable income against which the assessed loss may be utilised.

Following the decision to discontinue funding to TBCG, deferred tax assets in respect of its brought forward assessed losses and unutilised capital allowances, amounting to R260,9 million in aggregate has been derecognised and expensed as taxation in the current year. In addition, the tax effect of TBCG’s current year assessed losses, amounting to R120,6 million has not been recognised.