7. EXPENSES Year ended Dec 2024 $’000 Year ended Dec 2023 $’000 Profit before income tax includes the following specific expenses: Remuneration of auditors Audit of the financial statements (Grant Thornton New Zealand Audit Limited) 77 76 Review of financial statements (Grant Thornton New Zealand Audit Limited) 38 23 115 99 Employee benefits expense Short-term benefits 2,236 2,970 Post-employment benefits 222 212 Other employee benefits 5 39 Share based payments 892 1,388 3,355 4,609 Directors’ compensation Short-term benefits 1,066 1,444 Post-employment benefits 47 43 Share based payments 18 289 1,131 1,776 Other Consultants - share based payments 321 1,251 8. INCOME TAX Year ended Dec 2024 $’000 Year ended Dec 2023 $’000 Income tax expense Current tax 52,523 48,102 Deferred tax (9,211) (771) (Over)/under provision in prior years (3,413) – Adjustment1 998 728 Aggregate income tax expense 40,897 48,059 Deferred tax included in income tax expense comprises: Increase in deferred tax assets (9,211) (771) Numerical reconciliation of income tax expense and tax at the statutory rate Profit before income tax expense 182,940 205,140 Tax at the statutory tax rate of 30% 54,882 61,542 Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Research and development incentives (289) (324) Non-deductible share option expenses 369 879 Other non-deductible expenses/(non-assessable income) 2,210 99 Adjustment1 998 728 58,170 62,924 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED Neuren Pharmaceuticals Limited Annual Report 2024 35
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