INCOME TAXES

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE－15 INCOME TAXES

The provision for income taxes consisted of the following:

	Years ended June 30,
	2022		2023		2024
		S$	S$		S$
Income tax payable		107,718		33,986		-
Income tax expense		33,999		-		1,813

The effective tax rate in the years presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. Our Company’s subsidiaries mainly operate in Singapore that are subject to taxes in the jurisdictions in which they operate, as follows:

Cayman Islands

Our Company is an exempted Cayman Islands company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States.

BVI

Starry Grade is considered to be an exempted BVI Company and are presently not subject to income taxes or income tax filing requirements in the BVI or the United States.

Singapore

Premium Catering is operating in Singapore and are subject to the Singapore tax law at the corporate tax rate at 17% on the assessable income arising in Singapore during its tax year.

The reconciliation of income tax rate to the effective income tax rate based on income before income taxes for the years ended June 30, 2023 and 2024 are as follows:

	Years ended June 30
	2022			2023			2024
		S$		S$			S$
Income (Loss) before income taxes		547,333			(441,746	)		(1,464,877	)
Statutory income tax rate		17	%		17	%		17	%
Income tax expense at statutory rate		93,047			(75,097	)		(249,029	)
Tax effect of non-taxable income		(16,585	)		(3,786	)		(11,345	)
Non-deductible expense		-			78,883			260,374
Deferred tax asset not recognized		(31,882	)		-			-
Tax exemption		(17,425	)		-			-
Others		6,844			-			1,813
Income tax expense		33,999			-			1,813

	Years ended June 30,
	2023			2024
	S$			S$
Tax loss carry forwards		218,220			1,558,790
Deferred tax assets		37,097			264,994
Valuation allowance		(37,097	)		(264,994	)
Total deferred tax assets, net		-			-

Our Company did not have any significant unrecognized uncertain tax positions. Our Company did not incur any interest and penalties related to potential underpaid income tax expenses for the years ended June 30, 2023 and 2024 and also did not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from June 30, 2024.