BUSINESS ACQUISITION (Tables)

12 Months Ended

Jun. 30, 2024

Affinity DNA [member]

IfrsStatementLineItems [Line Items]

SUMMARY OF BUSINESS ACQUISITION ASSETS AND GOODWILL ACQUIRED

Intangible assets arising on acquisition were valued by an independent valuer. Details of net assets acquired and of goodwill are as follows:

	A$
Fair value of consideration transferred
Amount settled in cash		486,188
Total consideration		486,188
Recognized amounts of identifiable net assets
Intangible assets (1)		41,264
Deferred tax liabilities		(10,316	)
Identifiable net assets		30,948
Goodwill on acquisition (Note 15)		455,240

⁽¹⁾ Intangible assets relate to brand, trademark, trade names and domain names acquired as part of the business acquisition amounted to A$41,264 (refer to Note 16 for further details). The useful life of these intangibles are amortized on a straight-line basis over their estimated useful lives of five years.