38 for the year ended 30 June 2024 All figures are in A$000's Note 2024 2023 Deferred tax asset 37,949 24,944 Deferred tax liability (19,693) (15,321) Net deferred tax asset 18,256 9,623 Net deferred tax asset represented by; At beginning of year 9,623 11,788 Foreign exchange impact on opening balance (81) 132 Transfer to statement of comprehensive income 8,714 (2,297) Closing balance 18,256 9,623 Balance of deferred tax asset at end of year comprises: Provision /accruals 24,069 17,567 Property, plant and equipment 1,473 1,766 Lease liabilites 11,489 8,941 Tax losses available for future utilisation - 359 Joint operation temporary differences 891 666 Other 27 (4,355) Closing balance - deferred tax assets 37,949 24,944 Balance of deferred tax liabilities at end of year comprises: Property, plant and equipment 340 292 Lease assets 10,381 7,891 Withholding tax on future dividends 6,030 5,061 Other 2,942 2,077 Closing balance - deferred tax liabilities 19,693 15,321 Net deferred tax 18,256 9,623 The Group offsets its deferred tax liabilities against deferred tax assets relating to temporary differences in the same taxation jurisdictions and periods. All movements in deferred tax balances have been charged to deferred tax expense as recognised in the statement of profit or loss. The gross value of unbooked tax losses available for future utilisation within the Australian Tax Consolidation Group is $256.8 million (2023: $338.7million) and inclusive of it's foreign subsidiaries is $316.7 million (2023: $392.7million) available for offset against future profits. No deferred taxation asset has been recognised in respect of the remaining unused taxation losses. If and when the losses are used by the Australia Tax Consolidation Group they will be recouped by the Company through the intercompany receivable. Consolidated 12. Deferred tax assets Notes to the annual financial statements (continued)
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