5. EXPENSES 2022 $’000 2021 $’000 Profit/(loss) before income tax includes the following expenses: Depreciation – property, plant and equipment Computer equipment 10 8 Total depreciation 10 8 Remuneration of auditors Audit and review of financial statements (Grant Thornton NZ) 70 66 Total remuneration of auditors 70 66 Employee benefits expense Short-term benefits 1,607 1,093 Post-employment benefits 153 91 Other employee benefits 34 26 Share based payments 868 611 Total employee benefits expenses 2,662 1,821 Directors’ compensation Short-term benefits 732 498 Post-employment benefits 38 23 Share based payments 126 229 Total Directors' compensation 896 750 Other Consultants - share based payments 994 – In the comparative figures, Jon Pilcher is included in Employee benefits until 14 June 2021, when he was appointed Managing Director. His remuneration post 14 June 2021 is included in Director’s compensation. 6. INCOME TAX 2022 $’000 2021 $’000 Income tax expense Current tax expense – – Deferred tax expense – – – – Numerical reconciliation of income tax to prima facie tax receivable: Profit / (Loss) before income tax 184 (7,794) Tax at applicable rates 25.0% (2021: 26.0%) 46 (2,026) Non-taxable Australian R&D tax incentive income (216) (831) Non-deductible expenses for R&D incentive 497 1,973 Non-deductible share option expenses 497 218 Non-deductible loss in fair value of derivative 175 – Other non-assessable income (68) – Utilisation of previously unrecognised tax losses (946) – Deductible temporary differences and tax losses for which no deferred tax asset was recognised 15 666 Income tax expense – – NOTES TO THE CONSOL I DATED F I NANC I A L STATEMENTS CON T I NU E D Neuren Pharmaceuticals Limited Annual Repor t 2022 36
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