Deferred tax assets and liabilities

12 Months Ended

Dec. 31, 2024

Deferred tax assets and liabilities [Abstract]

Deferred tax assets and liabilities

17. Deferred tax assets and liabilities

17.1. Deferred tax assets

	2024			2023
	A$’000			A$’000
The balance comprises temporary differences attributable to:
Tax losses		1,877			-
Intangible assets		-			8,294
Employee benefit obligations		6,466			2,791
Lease liabilities		2,030			1,780
Inventories		37,605			10,976
Other		8,522			531
Total deferred tax assets		56,500			24,372
Set-off of deferred tax liabilities pursuant to set-off provisions		(9,763	)		(3,920	)
Net deferred tax assets		46,737			20,452

	Tax losses			Intangible assets			Employee benefit obligations		Lease liabilities		Inventories		Other		Total
Deferred tax assets movements		$’000			$’000			$’000		$’000		$’000		$’000		$’000
The balance comprises temporary differences attributable to:
Balance at January 1, 2024		-			8,294			2,791		1,780		10,976		531		24,372
(Charged)/credited:
to profit and loss		1,877			(8,294	)		3,675		250		26,629		7,991		32,128
Balance at December 31, 2024		1,877			-			6,466		2,030		37,605		8,522		56,500
Balance at January 1, 2023		4,400			2,434			1,052		803		363		157		9,209
(Charged)/credited:																-
to profit and loss		(4,400	)		5,860			1,739		977		10,613		374		15,163
Balance at December 31, 2023		-			8,294			2,791		1,780		10,976		531		24,372

17.2. Deferred tax liabilities

	2024			2023
		A$’000			A$’000
The balance comprises temporary differences attributable to:
Intangible assets		11,172			2,376
Right-of-use assets		2,374			1,544
Unrealized foreign exchange gains		5,598			-
Total deferred tax liabilities		19,144			3,920
Set-off of deferred tax assets pursuant to set-off provisions		(9,763	)		(3,920	)
Net deferred tax liabilities		9,381			-

	Intangible assets			Right-of-use assets			Unrealized foreign exchange gains		Total
Deferred tax liabilities movements		$’000			$’000			-		$’000
The balance comprises temporary differences attributable to:
Balance at January 1, 2024		2,376			1,544			-		3,920
Charged/(credited):
on acquisition		9,381			-			-		9,381
to profit and loss		(585	)		830			5,598		5,843
Balance at December 31, 2024		11,172			2,374			5,598		19,144
Balance at January 1, 2023		3,634			1,604			-		5,238
Charged/(credited):
to profit and loss		(1,258	)		(60	)		-		(1,318	)
Balance at December 31, 2023		2,376			1,544			-		3,920

17.3. Unrecognized deferred tax assets

The composition of the Group’s unrecognized deferred tax assets is as follows:

	2024		2023
Unrecognized deferred tax assets	A$’000		A$’000
Tax losses and tax credits		152,135		84,412
Temporary differences in relation to provisions		4		212
Temporary differences in relation to employee benefit obligations		1,958		97
Temporary differences in relation to intangible assets		1,095		-
Temporary differences in relation to inventories		536		-
Temporary differences in relation to lease liabilities		676		211
Temporary differences in relation to share-based payments		31,929		8,940
Total unrecognized deferred tax assets		188,333		93,872

17.4. Unrecognized tax losses

Unused tax losses and carried forward tax credits for which no deferred tax asset has been recognized:	2024		2023		2022
	A$’000		A$’000		A$’000
Australia		140,673		82,908		61,330
Other countries		11,462		1,504		1,503
Unrecognized income tax benefit		152,135		84,412		62,833