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Deferred Tax Balances

12 Months Ended

Jun. 30, 2023

NOTE 13. DEFERRED TAX BALANCES

(i) Deferred tax assets

The balance comprises temporary differences attributable to:


	Consolidated
	June 30, 2023 $			June 30, 2022 $
Employee benefits		97,869			71,205
Accruals		269,178			202,824
Unrealized exchange (gain)/loss		—			342,222
Unused tax loss		3,003,843			428,171
Set-off of deferred tax liabilities pursuant to set-off provisions		(3,370,890	)		(1,044,422	)

Net Deferred tax assets		—			—

(ii) Deferred tax liabilities

The amount of deferred tax liability represents the temporary difference that arose on the recognition of Intangibles recorded in the subsidiary Company in France. This has been

set-off

against deferred taxes in the Subsidiary Company, accordingly, hence reducing

the

unrecognized tax losses for both the France subsidiary and the consolidated Group. The balance comprises temporary differences attributable to:


	Consolidated
	June 30, 2023			June 30, 2022
	$			$

Intangible assets		938,026			1,044,411
Unrealized exchange gain		2,432,357			—
Accrued income		507			11

Total deferred tax liabilities		3,370,890			1,044,422
Set-off of deferred tax liabilities pursuant to set-off provisions		(3,370,890	)		(1,044,422	)

Net deferred tax liabilities		—			—

(iii) Movements in deferred tax balances


	Deferred Tax		Deferred Tax
	Asset		Liability			Total
Movements	$		$			$

At June 30, 2022		1,044,422		(1,044,422	)		—
(Charged)/credited to profit or loss		2,326,468		(2,326,468	)		—

At June 30, 2023		3,370,890		(3,370,890	)		—