Page 76 - Stellar IAR2015

NOTES TO THE ANNUAL FINANCIAL STATEMENTS (CONTINUED)8. DEFERRED TAXR’000Fair value adjustmentsOther nancial assetsImpairment of investments in Consolidated Subsidiaries Estimated tax lossesReconciliation of deferred tax assetOpening balanceOriginating temporary di erences on investments held at fair value Originating temporary di erences on other nancial assets Originating temporary di erences on investments in subsidiaries (Reversing) / originating temporary di erences onrecognition of tax lossesReversing temporary di erences on leasesReversing temporary di erences on allowances and provisions Reversing temporary di erences on intangible assetsReversing temporary di erences on other assetsReversing temporary di erences - discontinued operations Transfer to disposal group classi ed as held for saleGroupCompany20149 671 - - -319 (377) 405 806 463 (5 071) (3 000)2014- - - - - - 3 2167 0263 216 2 518 3 811597(3 116) - - - - - -- 2 618 3 811 597- - - - - - ---- 7 0263 2167 026A deferred tax asset has been recognised primarily in respect of unrealised losses on investments held at fair value and other nancial assets. A formal process of assessment of the future pro tability of the entity has been performed based on detailed cash ow forecasts and management has concluded that the deferred tax asset recognised will be utilised within one to ve years. It is therefore considered appropriate to recognise a deferred tax asset for the Company which has incurred losses in the current and prior periods.The Company has estimated unutilised capital losses of R558.7 million (deferred tax asset of R104.2 million) and historic trading losses in ConvergeNet Management Services (Pty) Ltd resulted in an estimated tax loss of R11.6 million being carried forward (deferred tax asset of R3.2 million). Therefore, an estimated total of R107.4 million has not been recognised as a deferred tax asset in the Group’s current nancial year (2014: R15.0 million).- - - - - - - -72 | STELLAR CAPITAL PARTNERS20152 618 3 811 597 -100 - - 3 11620152 618 3 811 597 -7 026