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Income Tax
 3 Months Ended
Sep. 30, 2025
Income Tax [Abstract]  
Income Tax
19.
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, 2025, the Company’s
effective tax rate was impacted by the tax expense recorded by
the
Company’s
profitable
South
African
operations
and
non-deductible
expenses
(including
transaction-related
expenditures).
The
Company’s income
tax benefit was impacted by a higher
deferred tax benefit as a result
of the reduction in the useful
lives of certain
of the
Company’s
brand and
trademark intangible
assets which
has resulted
in an
increase in
amortization expense
during the
three
months ended September 30, 2025.
For the three months ended September 30, 2024, the Company’s
effective tax rate was impacted by the tax expense recorded by
the
Company’s
profitable
South
African
operations,
non-deductible
expenses
(including
transaction-related
expenditures),
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.
Uncertain tax positions
As of three months ended September 30, 2025 and
June 30, 2025, the Company had
no
unrecognized tax benefits. The Company
files income tax
returns mainly
in South Africa,
Botswana, Namibia and
in the U.S.
federal jurisdiction.
As of September
30, 2025,
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,
2020. The
Company is
subject to
income tax
in other
jurisdictions outside
South Africa,
none of
which are
i
ndividually material to its financial position, statement of cash flows, or results of operations.