ALLUP SILICA LIMITED NOTES TO THE FINANCIAL STATEMENTS 48 FINANCIAL REPORT ALLUP SILICA Year Ending 30 June 2023 Note 3: Income Tax (continued) The revenue tax losses do not expire, however, the taxation benefit of the tax losses will only be obtained if: (i) assessable income is derived of a nature and of an amount sufficient to enable the benefits to be realised; (ii) conditions for deductibility imposed by law are complied with; and (iii) no changes in tax legislation adversely affect the realisation of the benefit from the deductions. Note 4: Key Management Personnel Compensation The compensation paid to Key Management Personnel of the Company is set out below. Please refer to the Remuneration Report in the Directors’ Report for further information: 2023 $ 2022 $ Short-term benefits 458,710 115,223 Post-employment benefits 8,820 1,389 Share-based payments 18,263 344,582 485,793 461,194 The compensation paid to employees of the Company is set out below. It is less that the amount paid to Key Management Personnel due to Director and Company Secretarial fees being classified as consulting expenses as set out in the respective Service Agreements: Wages and salaries 207,230 58,783 Superannuation 21,720 5,767 Total employee compensation 228,950 64,550 Note 5: Cash and Cash Equivalents Cash at bank 3,179,588 4,913,074 Cash at bank is equivalent to cash in the cashflow statement.
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