Genetic Signatures

Genetic Signatures Limited – Annual Report 2021 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021 31 Consolidated 2021 $’000s 2020 $’000s Note 4: Other income Interest income 206 271 Government Grant (R&D Rebate)* - 2,554 Export Market Development Grant 100 - Other income 129 85 Total other income 435 2,910 * The group exceeded the $20 million aggregate turnover rate imposed by the ATO and therefore did not qualify for the R&D cash rebate for the 30 June 2021 financial year. Consolidated 2021 $’000s 2020 $’000s Note 5: Expenses Finance costs Interest charges 36 33 Superannuation expense Defined contribution superannuation expense (including non-executive Directors) 466 290 Write-down of inventory to net realisable value* 270 - Items included in other expenses include: Patents – lodgement and maintenance 143 153 Foreign exchange loss 71 133 * Write-down of inventory to net realisable value included in the cost of materials used in the statement of profit or loss and other comprehensive income. Refer to Note 9 for details of inventories. Note 6: Income tax Consolidated 2021 $’000s 2020 $’000s Numerical reconciliation of income tax benefit to prima facie tax payable Prima facie income tax (benefit) on profit/(loss) from ordinary activities at 26% (2020: 27.5%) 715 (1,048) Add/(less)tax effect of: - non-deductible items 2,459 1,862 - tax losses not brought to account 329 (587) - research and development tax credit (2,902) - - temporary differences not brought to account (601) (328) Income tax benefit attributable to entity - - Financial Report