v3.26.3
Income Tax Expense (Tables)
 12 Months Ended
Jun. 30, 2026
Income Tax Expense [Abstract]  
Schedule of Numerical Reconciliation of Income Tax Expense to Prima Facie Tax Payable Numerical reconciliation of income tax expense to prima facie tax payable

 

    30 June     30 June     30 June  
    2026
$		     2025
$		     2024
$		  
Loss from continuing operations before income tax expense     (39,945,437 )     (32,188,619 )     (42,740,210 )
Tax at the Australian tax rate of 25% (2025: 25%, 2024: 25%)     (9,986,359 )     (8,047,155 )     (10,685,053 )
Tax effect of amounts which are not deductible/(taxable) in calculating taxable income:                        
Research and Development tax incentive     (2,524,310 )     (2,342,136 )     (323,145 )
Accounting expenditure subject to R&D tax incentive     5,803,010       5,384,221       742,862  
Accrued expenses     319,935       242,082       44,172  
Amortization     (658,079 )     (629,735 )     -  
Employee leave obligations     (43,146 )     917       3,639  
Patent costs     61,132       51,254       51,041  
Share-based payments     601,489       473,837       660,045  
Unrealized currency movements     3,011       43,430       (27,266 )
Subtotal     3,563,043       3,223,870       1,151,348  
Tax losses and other timing differences for which no deferred tax asset is recognized     6,423,316       4,827,533       9,533,705  
Income tax expense     -       -       -  
Numerical reconciliation of income tax expense to prima facie tax payable
    30 June
2026
$		     30 June
2025
$		     30 June
2024
$		  
Loss from continuing operations before income tax expense     (16,896,177 )     (5,930,262 )     (5,112,545 )
Tax at the US tax rate of 27.5% (2025: 27.5%, 2024: 27.5%)*     (4,646,449 )     (1,630,822 )     (1,405,950 )
                         
Tax effect of amounts which are not deductible/(taxable) in calculating taxable income:                        
Accrued expenses     221,775       28,021       (17,719 )
Amortization     (18,257 )     (19,075 )     -  
Employee leave obligations     347,200       (13,835 )     26,576  
Unrealized currency (gains)/losses     (183,545 )     (9,784 )     -  
Subtotal     367,173       (14,673 )     8,857  
Tax losses and other timing differences for which no deferred tax asset is recognized     4,333,716       1,748,787       1,493,457  
Income tax expense     54,440       103,292       96,364  

 

* the tax rate is driven by 21.1% for the federal rate and 6.5% for the new York sate rate
Schedule of Tax Losses Tax losses

 

    30 June     30 June     30 June  
    2026
$		     2025
$		     2024
$		  
Unused tax losses for which no deferred tax asset has been recognized     128,380,671       102,687,407       83,377,275  
Potential tax benefit at 25% (2025: 25%, 2024: 25%)     32,095,168       25,671,852       20,844,319  
Tax losses
    30 June     30 June     30 June  
    2026     2025     2024  
    $     $     $  
Unused tax losses for which no deferred tax asset has been recognized     29,689,955       13,930,988       7,571,756  
Potential tax benefit at 27.5% (2025: 27.5%, 2024: 27.5%)     8,164,738       3,831,022       2,082,233  
Schedule of Income Tax Expense Income tax expense
    30 June     30 June     30 June  
    2026
$		     2025
$		     2024
$		  
Current tax                  
Current tax on profits for the year     54,440       103,292       96,364  
Total current tax expense     54,440       103,292       96,364  
                         
Income tax expense     54,440       103,292       96,364