5 OPERATING EXPENDITURES (CONTINUED) For the year ended 30 June 2024 $ For the year ended 30 June 2023 $ Research and Development Employee Expenditure - Staff wages and superannuation 1,147,854 1,283,370 - Other employment expenses 60,389 50,904 1,208,243 1,334,274 R&D Expenditure - External R&D 385,874 687,282 - Laboratory operations 865,538 962,689 1,251,410 1,649,971 Depreciation and Amortisation - Depreciation of building improvements 9,381 9,052 - Depreciation of right-of-use assets – AASB 16 Leases 137,877 137,499 - Depreciation of plant and equipment 92,680 93,673 239,937 240,224 Per consolidated Statement of Comprehensive Income 2,699,591 3,224,469 Sales and Marketing Employee Expenditure - Staff wages and superannuation 261,226 406,761 - Other employment expenses 10,955 6,583 272,181 413,344 Other business development related expenditure 161,123 358,968 Per consolidated Statement of Comprehensive Income 433,303 772,312 6 INCOME TAX (a) A reconciliation of income tax expense applicable to accounting loss, before income tax at the statutory income tax rate, to income tax expense at the Group’s effective income tax rate for the periods ended 30 June 2024 and 30 June 2023 is as follows: For the year ended 30 June 2024 $ For the year ended 30 June 2023 $ Accounting loss before tax (6,554,350) (8,969,241) At statutory income tax rate of 25% (2023: 25%) (1,638,588) (2,242,310) Deferred tax asset brought to account – – Amortisation of intangible assets 243,975 241,241 Impairment of goodwill and intangible asset – – Deferred tax asset not brought to account 1,394,613 2,001,069 Income tax credit reported in the Statement of Comprehensive Income – – Notes to the Financial Statements continued for the year ended 30 June 2024 46 INOVIQ Limited
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