Non-Current Liabilities - Employee Benefits

12 Months Ended

Dec. 31, 2024

Non-Current Liabilities - Employee Benefits [Abstract]

Non-current liabilities - employee benefits

Note 19. Non-current liabilities - employee benefits

	Consolidated
	As of		As of
	December 31,		December 31,
	2024		2023
	$		$
Employee benefits		200,604		202,151

The Company’s liabilities for severance pay retirement and pension pursuant to Israeli law and employment agreements are recognized by full - in part by managers’ insurance policies, for which the Company makes monthly payments and accrued amounts in severance pay funds and the rest by the liabilities which are included in the financial statements.

The amounts funded displayed above include amounts deposited in severance pay funds with the addition of accrued income. According to the Severance Pay Law, the aforementioned amounts may not be withdrawn or mortgaged as long as the employer’s obligations have not been fulfilled in compliance with Israeli law.

Statement of financial position amounts

The amounts recognized in the statement of financial position determined as follows:

	Consolidated
	2024			2023
	$			$
Present value of the defined benefit obligation		233,954			228,625
Fair value of defined benefit plan assets		(91,868	)		(82,176	)
		142,086			146,449
Other long-term obligations		58,518			55,702
Net liability in the statement of financial position		200,604			202,151

Movement in plan assets:

	Consolidated
	2024			2023
	$			$
Balance at the beginning of the year		82,176			74,472
Interest income		1,892			2,168
Contributions		6,756			6,773
Return on plan assets (excluding interest)		1,352			813
Foreign exchanges differences		(308	)		(2,050	)
Balance at the end of the year		91,868			82,176

Reconciliations

	Consolidated
	2024			2023
	$			$
Reconciliation of the present value of the defined benefit obligation
Balance at the beginning of the year		228,625			212,848
Interest cost		11,084			10,841
Current service cost		12,706			13,009
Actuarial loss/(gains) from financial assumptions		(17,032	)		(2,439	)
Foreign exchanges differences		(1,429	)		(5,634	)
Balance at the end of the year		233,954			228,625