75 Westgold Resources Limited Annual Report 2023 8. INCOME TAX (CONTINUED) (d) Deferred income tax at 30 June relates to the following: Consolidated Statement of Financial Position Consolidated Statement of Comprehensive Income 2023 2022 2023 2022 Deferred tax liabilities Exploration (22,751,899) (16,538,683) 6,213,216 5,068,766 Trade and other receivables (639,932) (341,375) 298,557 (334,642) Prepayments (10,141) (16,394) (6,253) 4,555 Deferred mining (28,796,912) (32,761,755) (3,964,843) (43,709,681) Inventories (10,905,583) (10,964,932) (59,349) 2,261,854 Property plant and equipment (8,691,031) (7,729,115) 961,916 1,743,102 Gross deferred tax liabilities (71,795,498) (68,352,254) Deferred tax assets Net gain on financial assets FVTPL 453,115 423,071 (30,044) (604,212) Accrued expenses 390,096 718,292 328,197 116,382 Provision for employee entitlements 4,637,450 4,820,069 182,620 (715,206) Provision for rehabilitation 11,069,385 17,696,605 6,627,219 (3,609,899) Business related costs 165,227 162,179 (3,048) (99,151) Capital raising costs 896,406 1,367,076 – – Recognised tax losses 24,073,447 17,471,245 (6,602,203) (9,089,097) Gross deferred tax assets 41,685,126 42,658,537 Net deferred tax liabilities (30,110,372) (25,693,717) Deferred tax expense 3,945,985 (48,967,227) (e) Unrecognised losses At 30 June 2023, there are no unrecognised losses for the Group (2022: nil).
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