38 RACING AUSTRALIA ANNUAL REPORT 2024 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Consolidated Note 2024 $ 2023 $ Revenue 2 15,633,427 15,703,447 Other income 3 376,556 242,801 Expenses Employee benefits 7,981,418 7,734,764 Legal & consulting 433,774 559,515 Audit fees 52,000 50,000 Depreciation & amortisation 4 2,569,815 2,888,357 Research grant 219,312 222,997 Administration 2,173,548 1,945,155 Finance costs 122,095 104,632 Impairment 4 & 10 2,355,701 - Equine Testing Fees 361,097 304,477 16,268,760 13,809,897 (Deficit) before income tax expense (258,777) 2,136,351 Income tax expense - - (Deficit) after income tax expense for the year (258,777) 2,136,351 Other comprehensive income for the year, net of tax - - Total comprehensive income (loss) / surplus for the year (258,777) 2,136,351 FOR THE YEAR ENDED 30 JUNE 2024
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