62 Note 2023 2022 All figures are in A$000's Current income tax: Current tax expense 18,093 17,090 Adjustment in respect of current year income tax of previous year 353 13 Deferred tax: Relating to origination, reversal and impairment of temporary differences 2,297 (1,497) Income tax expense reported in statement of profit or loss 20,743 15,606 A reconciliation of income tax expense applicable to accounting profit before income tax at the statutory income tax rate to income tax expense at the Group's effective income tax rate for the years ended 30 June 2023 and 2022 is as follows: Accounting (loss) / profit before income tax (45,830) 46,828 Income tax (benefit) / expense at the statutory income tax rate of 30% (2022: 30%) (13,749) 14,048 Adjusted for: Non-deductible expense and non-assessable income 13,968 (478) Share of loss of associates 55 140 Withholding tax expensed 1,520 987 Non-assessable income on tax recoupment from Parent (6,223) (4,002) Deferred taxation asset not recognised 17,005 3,784 Adjustment in respect of current income tax of previous year 353 13 Effects of higher rates of tax on foreign income 6,868 1,651 Other items 946 (537) Income tax expense reported in statement of profit or loss 20,743 15,606 Consolidated 5. Taxation Tax consolidation - Distributions arising from tax consolidation During the financial year McConnell Dowell Corporation Limited and its wholly owned Australian entities allocated its current taxes to the head entity as distribution by subsidiary,resulting in the head entity recognising an inter-company receivable / (payable) that is receivable / (payable) on call and is not interest bearing. The treatment of this loan follows the legal consideration of the tax funding agreement entered into by the entities and on tax consolidation the distributions were recognised as a tax recoupment in McConnell Dowell Corporation. The prior year comparatives have been restated to reflect this as a recoupment other than a deferred tax asset. The historical unused tax losses that was generated by McConnell Dowell Corporation Limited was assumed by the head entity (Aveng Australia Holdings Pty Ltd). Notes to the annual financial statements (continued) for the year ended 30 June 2023 *Australian income taxation is calculated at 30% (2022: 30%) of the taxable income for the year. Taxation in other jurisdictions is calculated at the prevailing rates.
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