1. Summary of Significant Accounting Policies: Income Taxes (Policies)

12 Months Ended

Jun. 30, 2012

Income Taxes:

Income Taxes

Income Taxes

The Company provides for income taxes under ASC 740 “Accounting for Income Taxes”.  ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.

ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.