Ann: Quarterly Report - October to December 2023, page-42

because paying income tax for companies on 1 December after the year end is a requirement under the Income Tax Assessment Act - companies don't generally pick and choose when they pay their liabilities in particular with government authorities (especially public companies).

The $64 million i mentioned above is just the tax owing as at 30 June 2023 for the 2023 financial year. They would be required to pay monthly PAYG Tax instalments each month during this current financial year. I have no idea what this amount would be, but it is a percentage of the income they earn - the percentage called PAYG Tax Instalment Rate is calculated based on the last tax return.

i stress, the major reason why they had so much tax to pay as at 30 June 2023 is because they previously had tax losses, therefore their PAYG Tax Instalment Rate would have been 0.0% for most of the 2023 financial year, therefore they wouldn't have been paying monthly PAYG Tax Instalments until they lodged their 2022 ITR - due date would have been 31 January 2023.