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11. Income Taxes

Jun. 30, 2020

11. Income Taxes

11.Income Taxes

The Company has $24,600,000 of net operating losses carried forward to offset taxable income in future years which expire commencing in fiscal 2032. The income tax benefit differs from the amount computed by applying the US federal income tax rate at 21% per annum to net loss before income taxes. As at June 30, 2020 and September 30, 2019, the Company had no uncertain tax positions.

	June 30, 2020 $		September 30, 2019 $
Net loss before taxes	13,318,408		12,625,204
Statutory rate	21%		21%

Computed expected tax recovery	2,796,866		2,651,293
Permanent differences and other	(1,437,275)		(396,668)
Change in valuation allowance	(1,359,591)		(2,254,625)

Income tax provision	-		–

The significant components of deferred income tax assets and liabilities as at June 30, 2020 and September 30, 2019 after applying enacted corporate income tax rates are as follows:

	2020 $		2019 $

Net operating losses carried forward	5,166,165		3,806,574
Valuation allowance	(5,166,165)		(3,806,574)

Net deferred tax asset	–		–

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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