10.	Trade and Other Receivables

 

(1)	Refer to Note 5 (a) for details on provisional pricing adjustments.

(2)	Net of allowances for expected credit losses of $1.7 million (2024: $1.9 million).

Recognition and measurement

Trade receivables are generally due within 30 days and are initially recognised at their transaction price, or fair value for those receivables containing a significant financing component. Trade receivables are subsequently measured at amortised cost using the effective interest method, less an allowance for expected credit losses, except for provisionally priced receivables which are subsequently measured at fair value through profit or loss in accordance with IFRS 9 Financial Instruments.

GST/QST receivable from taxation authorities is initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less an allowance for expected credit losses.

The collectability of trade and other receivables is assessed continuously. Individual receivables which are deemed to be unrecoverable are written off by reducing the carrying value directly. At the reporting date, specific allowances are made for any expected credit losses based on a review of all outstanding amounts. Information about the Group’s exposure to credit risks and expected credit losses for trade and other receivables is included in Note 23 (c).