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11 Deferred Income
12 Months Ended
Jun. 30, 2015
Notes  
11 Deferred Income

11           DEFERRED INCOME    

The balance of deferred income represents government grants related to the Company's construction in progress ("CIP"). It will be recognized as subsidy income on a systematic basis (straight-line method) over the useful life of the fixed asset transferred from CIP which is a project to reform and improve the production line of the Zhongtongan. As of June 30, 2015, the CIP was transferred to building and building improvements and will be depreciated over 35 years. See Note 5.