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Change in the Allowance Account Approximately (Table)
12 Months Ended
Jun. 30, 2012
Change in the Allowance Account Approximately  
Change in the Allowance Account Approximately

The change in the allowance account from June 30, 2011 to June 30, 2012 was approximately $120,000.

 

 

 

June 30, 2012

 

 

June 30, 2011

 

Statutory rate

 

 

25.80%

 

 

 

27.55%

 

 

 

 

 

 

 

 

 

 

Income taxes recovered at the effective tax rate

 

$

9,000

 

 

$

16,500

 

 

 

 

 

 

 

 

 

 

Temporary timing differences:

 

 

-

 

 

 

-

 

Permanent timing differences:

 

 

-

 

 

 

-

 

Change in tax rate:

 

 

(130,000

)

 

 

(133,000

)

Change in valuation allowance:

 

 

121,000

 

 

 

116,500

 

Income tax recovery (expense) recognized in year

 

$

-

 

 

$

-