160 FINANCIAL STATEMENTS 24. Disposal of business activities Restructuring of business activities: During the previous year Nampo (Pty) Ltd, a wholly owned subsidiary acquired the non-membership operations of Grain South Africa as a going concern. The transfer of immovable property, being the properties listed as 1 and 7 under Note 3 to the financial statements, is reliant on the approval by members at the Congress of Grain South Africa group. 2025 2024 2025 2024 R R R R Current tax Current year 442 079 176 690 - - Deferred tax Current year 767 700 (1 116 033) - - Total income tax expense/(credit) 1 209 779 (939 343) - - 2025 2024 2025 2024 R R R R Surplus before tax from operations 26 710 776 33 729 159 92 945 374 23 082 924 Income tax calculated at 27% 7 211 910 9 106 873 25 095 251 6 232 389 Tax effect of Exempt income (5 759 534) (9 432 099) (25 095 251) (6 232 389) Dividends received (75 357) (79 930) - - Land and buildings – permanent difference - 117 284 - - Investment fees attributable to exempt fees 9 056 10 183 - - Fair value adjustments not taxable (20%) (147 855) (145 673) - - Legal and consulting fees 88 843 112 183 - - Take on difference – Leave pay provision - (493 587) - - Assessed loss recognised - (134 577) - - Deferred tax – prior year under provision (117 284) - - - Tax charge 1 209 779 (939 343) - - ORGANISATION ORGANISATION GROUP GROUP 23.1 INCOME TAX RECOGNISED IN SURPLUS OR DEFICIT: 23.2 THE INCOME TAX FOR THE YEAR CAN BE RECONCILED TO THE ACCOUNTING SURPLUS AS FOLLOWS:
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