Income tax benefit/(expense)

3 Months Ended

Sep. 30, 2022

Major Components Of Tax Expense Income [Abstract]

4. Income tax benefit/(expense)

	Three Months Ended September 30,
(in U.S. dollars, in thousands)	2022			2021
Income tax (benefit)/expense
Current tax
Current tax		—			—
Total current tax (benefit)/expense		—			—

Deferred tax
(Increase)/decrease in deferred tax assets		6			(144	)
(Decrease)/increase in deferred tax liabilities		(61	)		82
Total deferred tax (benefit)/expense		(55	)		(62	)
Income tax (benefit)/expense		(55	)		(62	)

Deferred tax assets have been brought to account only to the extent that it is foreseeable that they are recoverable against future tax liabilities.

Deferred tax assets are recognized for unused tax losses to the extent that it is probable that future taxable profit will be available against which the unused tax losses can be utilized. Deferred tax assets are offset against taxable temporary differences (deferred tax liabilities) when the deferred tax balances relate to the same tax jurisdiction in accordance with our accounting policy.

Deferred taxes are measured at the rate in which they are expected to settle within the respective jurisdictions, which can change based on factors such as new legislation or timing of utilization and reversal of associated assets and liabilities.

(in U.S. dollars, in thousands)	As of September 30, 2022		As of June 30, 2022
Deferred tax assets not brought to account
Unused tax losses
Potential tax benefit at local tax rates		111,841		111,283
Other temporary differences
Potential tax benefit at local tax rates		11,924		11,046
Other tax credits
Potential tax benefit at local tax rates		3,220		3,220
		126,985		125,549

As of September 30, 2022 and June 30, 2022, the Group has deferred tax assets not brought to account of $127.0 million and $125.5 million, respectively. Deferred tax assets have been brought to account only to the extent that it is foreseeable that they are recoverable against future tax liabilities.