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Income tax expense | 12 Months Ended
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Jun. 30, 2024
Major components of tax expense (income) [abstract] |
Income tax expense | Note 10. Income tax expense
| Consolidated |
| Year ended 30 June 2024 |  | Year ended 30 June 2023 |  | Year ended 30 June 2022 |
| US$’000 |  | US$’000 |  | US$’000 |
Numerical reconciliation of income tax expense and tax at the statutory rate |  |  |  |  |  |
Loss before income tax expense | (25,502) |  |  | (169,481) |  |  | (417,046) |  |
Tax at the statutory tax rate of 30% (2023: 30%, 2022: 30%) | (7,650) |  |  | (50,844) |  |  | (125,114) |  |
Tax effect amounts which are not deductible in calculating taxable income: |  |  |  |  |
Non-deductible/non-allowable items | 8,793 |  |  | 4,756 |  |  | 128,643 |  |
| 1,143 |  |  | (46,088) |  |  | 3,529 |  |
Current year tax losses not recognized | 1,207 |  |  | 28,349 |  |  | 534 |  |
Recognition of previously unrecognized tax losses | 12 |  |  | - |  |  | (1,019) |  |
Derecognition of previously recognized tax losses | 860 |  |  | - |  |  | - |  |
Difference in overseas tax rates | (315) |  |  | 1,979 |  |  | 203 |  |
Current year temporary differences not recognized | 535 |  |  | - |  |  | - |  |
Prior year tax over/(under) provisions | (296) |  |  | (212) |  |  | (523) |  |
Deconsolidation of Non-recourse SPVs | - |  |  | 18,362 |  |  | - |  |
Other | 307 |  |  | - |  |  | - |  |
Income tax expense | 3,453 |  |  | 2,390 |  |  | 2,724 |  |
| Consolidated |
| Year ended 30 June 2024 |  | Year ended 30 June 2023 |  | Year ended 30 June 2022 |
| US$’000 |  | US$’000 |  | US$’000 |
Income tax expense |  |  |  |  |  |
Current tax expense/(benefit) | 1,709 |  |  | (1,013) |  |  | 672 |  |
Deferred tax expense | 1,744 |  |  | 3,403 |  |  | 2,052 |  |
Income tax expense | 3,453 |  |  | 2,390 |  |  | 2,724 |  |
| Consolidated |
| 30 June 2024 |  | 30 June 2023 |  | 30 June 2022 |
| US$’000 |  | US$’000 |  | US$’000 |
Unrecognized deferred tax assets |  |  |  |  |  |
Available tax losses | 155,608 |  |  | 136,849 |  |  | 19,268 |  |
Tax effect at the applicable tax rate for each jurisdiction | 41,750 |  |  | 39,238 |  |  | 5,117 |  |
Deferred tax asset on tax losses recognized to the extent of taxable temporary differences | 19,148 |  |  | 10,761 |  |  | 3,854 |  |
Deferred tax asset on losses not recognized | 22,602 |  |  | 28,477 |  |  | 1,263 |  |
In addition to tax losses unrecognized, there are $123,987,000 of deductible temporary differences in relation to capital losses, capital raising costs and other temporary differences for which no deferred tax asset is recognized as at 30 June 2024. These tax losses can only be utilized against availability of future available profits. These tax losses are not expected to expire. Recognized deferred tax assets and liabilities The following are the deferred tax assets and liabilities recognized by the Group and movements during the years ended 30 June 2024 and 30 June 2023:
| Tax losses |  | Employee benefits |  | Property, plant and equipment |  | Unrealized foreign exchange losses |  | Capital raising costs |  | Other deferred tax assets |  | Total |
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |
Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Movement in balances |  |  |  |  |  |  |  |  |  |  |  |  |  |
As at 1 July 2022 | 3,854 |  |  | 113 |  |  | 15 |  |  | 725 |  |  | 4,627 |  |  | 1,222 |  |  | 10,556 |  |
(Charge)/credit to profit or loss | 6,907 |  |  | (381) |  |  | (15) |  |  | (691) |  |  | (666) |  |  | 1,117 |  |  | 6,271 |  |
As at 30 June 2023 | 10,761 |  |  | (268) |  |  | - |  |  | 34 |  |  | 3,961 |  |  | 2,339 |  |  | 16,827 |  |
Offset against deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |  | (16,819) |  |
As at 30 June 2023 |  |  |  |  |  |  |  |  |  |  |  |  | 8 |  |
As at 1 July 2023 | 10,761 |  |  | (268) |  |  | - |  |  | 34 |  |  | 3,961 |  |  | 2,339 |  |  | 16,827 |  |
(Charge)/credit to profit or loss | 8,391 |  |  | 152 |  |  | - |  |  | 702 |  |  | (1,701) |  |  | 1,654 |  |  | 9,198 |  |
(Charge)/credit to equity |  |  |  |  |  |  |  |  | - |  |  |  |  | - |  |
As at 30 June 2024 | 19,152 |  |  | (116) |  |  | - |  |  | 736 |  |  | 2,260 |  |  | 3,993 |  |  | 26,025 |  |
Offset against deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |  | (26,025) |  |
As at 30 June 2024 |  |  |  |  |  |  |  |  |  |  |  |  | - |  |
| Property, plant and equipment |  | Unrealized foreign exchange gains |  | Other deferred tax liabilities |  | Total |
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Movement in balances |  |  |  |  |  |  |  |
As at 1 July 2022 | (4,692) |  |  | (3,471) |  |  | (347) |  |  | (8,510) |  |
(Charge)/credit to profit or loss | (7,426) |  |  | (1,540) |  |  | (708) |  |  | (9,674) |  |
As at 30 June 2023 | (12,118) |  |  | (5,011) |  |  | (1,055) |  |  | (18,184) |  |
Offset against deferred tax assets |  |  |  |  |  |  | 16,819 |  |
As at 30 June 2023 |  |  |  |  |  |  | (1,365) |  |
As at 1 July 2023 | (12,118) |  |  | (5,011) |  |  | (1,055) |  |  | (18,184) |  |
(Charge)/credit to profit or loss | (12,455) |  |  | 2,227 |  |  | (738) |  |  | (10,966) |  |
As at 30 June 2024 | (24,573) |  |  | (2,784) |  |  | (1,793) |  |  | (29,150) |  |
Offset against deferred tax assets |  |  |  |  |  |  | 26,025 |  |
As at 30 June 2024 |  |  |  |  |  |  | (3,125) |  |

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