Westgold Resources Online Annual Report 2024

81 Westgold Resources Limited Annual Report 2024 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 2024 2023 2024 2023 Deferred tax liabilities Exploration (30,537,611) (22,751,899) 7,785,712 6,213,216 Trade and other receivables (195,829) (639,932) (444,103) 298,557 Prepayments (27,839) (10,141) 17,698 (6,253) Deferred mining (55,513,773) (28,796,912) 26,716,861 (3,964,843) Inventories (11,809,399) (10,905,583) 903,816 (59,349) Property plant and equipment (4,969,074) (8,776,548) (3,807,474) 1,019,038 Right of use assets (989,732) (1,593,125) (603,393) (1,651,286) Net Loss on financial assets FVTPL (600,107) – 600,107 – Gross deferred tax liabilities (104,643,364) (73,474,140) Deferred tax assets Lease liabilities 1,099,383 1,678,642 579,259 1,594,164 Net gain on financial assets FVTPL – 453,115 453,115 (30,044) Accrued expenses 1,906,130 390,096 (1,516,034) 328,197 Provision for employee entitlements 7,004,352 4,637,450 (2,366,902) 182,620 Provision for rehabilitation 11,017,544 11,069,385 51,841 6,627,219 Borrowing costs 472,619 – (472,619) – Business related costs 137,954 165,227 27,273 (3,048) Capital raising costs 495,936 896,406 – – Recognised tax losses 10,256,032 24,073,447 13,817,415 (6,602,203) Gross deferred tax assets 32,389,950 43,363,768 Net deferred tax liabilities (72,253,414) (30,110,372) Income tax expense 41,742,573 3,945,985 (E) UNRECOGNISED LOSSES At 30 June 2024, there are no unrecognised losses for the Group (2023: $nil).

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