Consolidated Restated 2021 2020 Note 6. Income Tax Note US$’000 US$’000 (a) Income Tax Recognised in the Consolidated Statement of Profit or Loss and Other Comprehensive Income Tax Income (expense) comprises: Current income tax (15,321) (3,140) Current income tax under/(over) (88) 38 Deferred income tax 47,666 3,736 Total income benefit 32,257 634 The prima facie tax on loss before income tax is reconciled to tax income as follows: Prima facie tax benefit on loss before income tax, calculated at the Australian tax rate of 30% 8,362 26,032 (Add)/subtract the tax effect of: Share‑based payments expense (non‑cash) (910) (709) Non‑deductible legal settlement (2,880) – Other non‑deductible items (3,582) (2,571) Tax losses and temporary tax differences not recognised (961) (23,649) Adjustment for current tax of previous financial years (88) 38 Difference in overseas tax rates (665) 739 Recognition of temporary differences and tax losses not previously brought to account 20,701 – Foreign exchange differences 11,952 – Non‑assessable income 328 754 Total income tax benefit 32,257 634 (b) Amounts Recognised Directly in Equity Aggregate current and deferred tax arising during the financial year and not recognised in net profit or loss, but directly debited or credited in equity: Deferred tax – credited directly in contributed equity 23(b) 143 415 Karoon Energy Ltd 101 Annual Report 2021