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Income Taxes

12 Months Ended

Mar. 31, 2020

8. INCOME TAXES

Income taxes

The provision for income taxes differs from that computed at combined corporate tax rate of approximately 26% as follows:

Income tax recovery

	Year ended March 31, 2020			Year ended March 31, 2019
	$			$
Net loss		(11,066,942	)		(8,952,065	)

Expected income tax recovery		(2,877,405	)		(2,233,937	)
Non-deductible expenses		912,038			796,673
Other temporary differences		(43,975	)		(44,048	)
Change in valuation allowance		2,009,342			1,481,312
		-			-

Deferred tax assets

	As at March 31, 2020			As at March 31, 2019
	$			$
Non-capital loss carry forwards		4,636,203			2,626,861
Other temporary differences		79,834			123,810
Valuation allowance		(4,716,037	)		(2,750,671	)
		-			-

As of March 31, 2020 and 2019, the Company decided that a valuation allowance relating to the above deferred tax assets of the Company was necessary, largely based on the negative evidence represented by losses incurred and a determination that it is not more likely than not to realize these assets, such that, a corresponding valuation allowance, for each respective period, was recorded to offset deferred tax assets.

As of March 31, 2020, and 2019 the Company has approximately $17,831,550 and $10,103,310, respectively, of non-capital losses available to offset future taxable income. These losses will expire between 2034 to 2037.

As of March 31, 2020, and 2019 the Company is not subject to any uncertain tax positions.

- Definition

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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