INCOME TAX CREDIT/(EXPENSE) (Tables)

12 Months Ended

Jun. 30, 2024

Notes and other explanatory information [abstract]

SCHEDULE OF INCOME TAX EXPENSE

	2024 A$			2023 A$			2022 A$
Reconciliation of income tax expense to prima facie tax payable
Loss before income tax credit		(12,017,219	)		(11,909,252	)		(7,163,123	)
Tax at the Australian tax rate of 25% (2023: 25% and 2022: 25%)
		(3,004,305	)		(2,977,313	)		(1,790,781	)
Tax effect amounts which are not deductible/(taxable) in calculating taxable income
Share-based payments expense		31,044			31,375			109,377
Non-deductible R&D expense subject to R&D tax incentive		1,056,910			919,785			1,116,714
Impairment of goodwill		333,000			461,250			-
Other assessable items		10,687			-			-
Income tax expenses before unrecognized tax losses		(1,572,664	)		(1,564,903	)		(564,690	)
Difference in overseas tax rates		(1,873	)		53,673			(79,604	)
Over provision in prior years		(124,775	)		(454,928	)		(348,607	)
Temporary differences not recognized		(440,162	)		29,979			(301,694	)
Research and development tax credit		(496,813	)		(404,016	)		(599,388	)
Tax losses not recognized		2,655,894			2,543,441			1,861,858
Utilization of tax losses not previously recognized		(19,607	)		(361,575	)		-
Income tax credit		-			(158,329	)		(32,125	)

SCHEDULE OF NET DEFERRED TAX ASSETS

	2024 A$			2023 A$			2022 A$
Net deferred tax assets
Deferred tax liabilities recognized
Brands and trademarks		(81,698	)		(121,901	)		(148,013	)
Total deferred tax liabilities		(81,698	)		(121,901	)		(148,013	)
Deferred tax assets recognized
Tax losses		81,698			121,901			-
Total deferred tax assets		81,698			121,901			-
Deferred tax assets not recognized
Trade debtor		-			222,144			58,041
Capital raising costs		313,518			582,168			661,863
Intangible assets		1,058,658			1,407,570			1,456,225
Provisions		502,950			342,252			442,383
Total deferred tax assets		1,875,127			2,554,134			2,618,512
Deferred tax liabilities not recognized
Right-of-use assets		(37,102	)		(127,388	)		(161,787	)
Total deferred tax liabilities		(37,102	)		(127,388	)		(161,787	)
Net deferred tax assets on temporary differences not brought to account		(1,838,025	)		(2,426,746	)		(2,456,725	)
Total net deferred tax assets/(liabilities)		-			-			(148,013	)

SCHEDULE OF TAX LOSSES

	2024 A$		2023 A$		2022 A$
Tax losses
Unused tax losses for which no deferred tax asset has been recognized		128,351,776		119,096,654		105,287,311
Potential tax benefit		31,040,867		28,539,512		25,275,328
Potential tax benefit @ 26% (Australia)		24,675,913		21,897,732		19,020,914
Potential tax benefit @ 21% (USA)		6,006,091		6,568,458		5,950,299
Potential tax benefit @ 35% (Malta)		339,290		65,895		304,115
Potential tax benefit @ 19% (UK)		19,572		7,427		-