Net finance costs (Tables)

12 Months Ended

Jun. 30, 2020

Net finance costs

Schedule of net finance costs, finance income

		2020		2019		2018
for the year ended 30 June	Note	Rm		Rm		Rm
Finance income
Dividends received from investments		44		42		520
Notional interest received		102		—		5
Interest received on		776		745		1 191
other long-term investments loans		28		27		32
and receivables		293		334		359
cash and cash equivalents		455		384		800
Per income statement Less:		922		787		1 716
notional interest		(102	)	—		(5	)
Less: interest received on tax		(28	)	(105	)	(146	)
Per the statement of cash flows		792		682		1 565

Schedule of net finance costs, finance costs

		2020		2019		2018
for the year ended 30 June	Note	Rm		Rm		Rm
Finance costs
Debt		8 226		6 088		4 166
debt		8 090		6 044		3 880
interest rate swap — net settlements		136		44		286
Preference share dividends		—		116		963
Interest on lease liabilities		1 465		871		483
Other(1)		52		(462	)	291
		9 743		6 613		5 903
Amortisation of loan costs	17	135		725		462
Notional interest	35	945		857		962
Total finance costs		10 823		8 195		7 327
Amounts capitalised to assets under construction(2)	21	(3 520	)	(6 942	)	(3 568	)
Per income statement		7 303		1 253		3 759
Total finance costs before amortisation of loan costs and notional interest		9 743		6 613		5 903
Add: modification (loss)/gain	17	(1 193	)	109		—
Less: interest accrued on long-term debt, lease liabilities and short-term debt Less:		(1 412	)	(1 025	)	(878	)
interest reversed/(accrued) on tax payable(1)		16		525		(228	)
Per the statement of cash flows		7 154		6 222		4 797

(1)Interest (reversed)/accrued on tax payable in 2019 and 2018 relates mainly to our tax litigation claim.

(2)Finance costs capitalised decreased due to the LCCP units reaching beneficial operation.