2018  R'000				2017  R’000
12	TAXATION
	South African normal tax
	– current year			61 914				27 472
	– overprovision relating to prior year			(3 566)				—
	Securities transfer taxation on redemption of preference shares			—				865
				58 348				28 337
	Reconciliation of the taxation charge as a percentage of profit before taxation			%				%
	Statutory tax rate			28,00				28,00
	Adjusted for:
	Dividend income			(26,53)				(27,22)
	Disallowable expenditure			0,18				0,10
	Effective tax rate			1,65				0,88