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Income Tax
 3 Months Ended
Sep. 30, 2023
Income Tax [Abstract]  
Income Tax
18.
 
Income tax
Income tax in interim periods
For the purposes of interim
 
financial reporting, the Company
 
determines the appropriate income
 
tax provision by first
 
applying
the effective
 
tax rate
 
expected to
 
be applicable
 
for the
 
full fiscal
 
year to
 
ordinary income.
 
This amount
 
is then
 
adjusted for
 
the tax
effect
 
of
 
significant
 
unusual
 
items,
 
for
 
instance,
 
changes
 
in
 
tax
 
law,
 
valuation
 
allowances
 
and
 
non-deductible
 
transaction-related
expenses that
 
are reported
 
separately,
 
and have an
 
impact on the
 
tax charge.
 
The cumulative effect
 
of any change
 
in the enacted
 
tax
rate, if and when applicable, on the opening balance of deferred tax assets
 
and liabilities is also included in the tax charge as a discrete
event in the interim period in which the enactment date occurs.
For the three months ended September 30, 2023, the Company’s
 
effective tax rate was impacted by the tax expense recorded
 
by
the
 
Company’s
 
profitable
 
South
 
African
 
operations,
 
non-deductible
 
expenses,
 
the
 
on-going
 
losses
 
incurred
 
by
 
certain
 
of
 
the
Company’s
 
South African
 
businesses and
 
the associated
 
valuation
 
allowances created
 
related to
 
the deferred
 
tax assets
 
recognized
regarding net operating losses incurred by these entities.
For the three months ended September 30, 2022, the Company’s
 
effective tax rate was impacted by the tax expense recorded
 
by
the
 
Company’s
 
profitable
 
South
 
African
 
operations,
 
non-deductible
 
expenses,
 
the
 
on-going
 
losses
 
incurred
 
by
 
certain
 
of
 
the
Company’s
 
South African
 
businesses and
 
the associated
 
valuation
 
allowances created
 
related to
 
the deferred
 
tax assets
 
recognized
regarding net operating losses incurred by these entities.
 
18.
 
Income tax (continued)
Uncertain tax positions (continued)
The Company had
no
 
significant uncertain
 
tax positions during
 
the three months
 
ended September 30,
 
2023, and therefore,
 
the
Company had
no
 
accrued interest related to uncertain tax positions
 
on its balance sheet. The Company does
no
t expect changes related
to its unrecognized tax benefits will have a significant impact on its results of operations
 
or financial position in the next 12 months.
The Company
 
has
no
 
unrecognized tax benefits.
 
The Company
 
files income tax
 
returns mainly
 
in South Africa,
 
Botswana and
in the U.S. federal jurisdiction. As of September 30, 2023, the Company’s
 
South African subsidiaries are no longer subject to income
tax examination
 
by the
 
South African
 
Revenue Service
 
for periods
 
before June 30, 2019.
 
The Company
 
is subject
 
to income
 
tax in
other jurisdictions outside
 
South Africa, none
 
of which are
 
individually material to
 
its financial position,
 
statement of cash
 
flows, or
results of operations.