XML 35 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
8. INCOME TAXES
12 Months Ended
Jun. 30, 2012
Income Tax Disclosure [Abstract]  
8. INCOME TAXES

  a) A reconciliation of income tax expense to the amount computed at the statutory rate is as follows:

 

    2012     2011  
             
Net loss for the year   $ (107,104 )   $ (88,253 )
Statutory tax rate     35 %     35 %
                 
Computed expected (benefit) income taxes     (37,486 )     (30,880 )
Income tax benefit not recognized     37,486       30,880  
                 
    $ -     $ -  

 

  b) Significant components of deferred income tax assets are as follows:

 

    2012     2011  
             
Operating losses carried forward   $ 120,000     $ 83,000  
Valuation allowance     (120,000 )     (83,000 )
                 
    $ -     $ -  

 

  c) The Company has incurred operating losses of approximately $345,000 which, if unutilized, will expire through to 2032.  Future tax benefits, which may arise as a result of these losses, have not been recognized in these financial statements, and have been offset by a valuation allowance.  The following table lists the fiscal year in which the loss was incurred and the expiration date of the operating loss carry forwards:

 

    INCOME TAX OPERATING  
    LOSS CARRY FORWARDS  
          EXPIRATION  
    AMOUNT     DATE  
             
    $ 107,000       2032  
      88,000       2031  
      13,000       2030  
      22,000       2029  
      68,000       2028  
      37,000       2027  
      10,000       2026  
                 
Total income tax operating loss carry forward   $ 345,000