2019 Integrated Report

PPS INTEGRATED REPORT 2019 | 141 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’000 At 1 January 2018 107 022 Recognised in profit or loss 37 257 At 31 December 2018 144 279 Recognised in profit or loss 26 119 At 31 December 2019 170 398 The utilisation of the deferred tax asset in respect of the tax losses is dependent on the relevant group entities making future taxable profits. It is assessed as recoverable based on the probability of the future taxable profits of the entity. (b) Deferred tax liabilities Group Deferred tax liability on revaluation of investments Deferred tax liability on cumulative revaluation of land and buildings Total R’000 R’000 R’000 At 1 January 2018 370 481 2 934 373 415 Recognised in profit or loss (221 413) – (221 413) Recognised directly in equity – 390 390 Transfer to current income tax liabilities (94 930) – (94 930) At 31 December 2018 54 138 3 324 57 462 Recognised in profit or loss 71 696 – 71 696 Recognised directly in equity – 8 487 8 487 At 31 December 2019 125 834 11 811 137 645