Income Tax

6 Months Ended

Dec. 31, 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 and six months ended December 31, 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 and six months ended December 31, 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

The Company had

no

 significant uncertain tax positions during the three months ended December 31, 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 December 31, 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.