Income Tax (Tables)

9 Months Ended

12 Months Ended

Mar. 31, 2014

Jun. 30, 2013

Income Tax [Abstract]

Schedule of income tax expense

NCOME TAX EXPENSE
	For the nine months ended
	March 31
	2014		2013
Income tax expense - current	$	-	$	-
Income tax expense - deferred		203,186		240,428
Total	$	203,186	$	240,428

INCOME TAX EXPENSE	June 30
	2013		2012
Income tax expense - current	$	-	$	-
Income tax expense - deferred		305,246		179,647
Total	$	305,246	$	179,647

Summary of components of income before income tax

	For the nine month ended
	March 31
	2014			2013
(Loss) income from continuing operations	$	(386,881	)	$	417,925
Net loss from discontinued operations		(301,280	)		-
(Loss) income before Income tax	$	(688,161	)	$	417,925
Loss from USA operations	$	(1,078,312	)	$	-
Income from Australian operations		390,151			417,925
(Loss) income before Income tax	$	(688,161	)	$	417,925
Income tax	$	203,186		$	240,428
Effective tax rate		(29	)%		57	%

COMPONENTS OF INCOME BEFORE INCOME TAX	June 30
	2013			2012
Income (loss) from USA operations	$	-		$	-
Income from Australian operations		567,998			257,587
(Loss) income before Income tax	$	567,998		$	257,587
Income tax	$	305,246		$	179,647
Effective tax rate		54	%		70	%

Schedule of income tax rate reconciliation

	For the nine months ended  March 31
	2014			2013
US statutory rates		34	%		34	%
Tax rate difference		(4	)%		(4	)%
Research and development	(12	)%		27	%
USA losses		(47	)%		-	%
Tax expenses at actual rate		(29	)%		57	%

 

INCOME TAX RATE RECONCILIATION	June 30
	2013			2012
US statutory rates		34	%		34	%
Tax rate difference		(4	)%		(4	)%
Research and development		24	%		40	%
Tax expenses at actual rate		54	%		70	%

Summary of components of deferred tax expense

	For the nine months ended
	March 31
	2014			2013
Tax losses carried forward	$	279,351		$	185,120
Doubtful debts reserve		(68,729	)		52,488
Accruals		(7,436	)		2,820
		203,186			240,428

COMPONENTS OF DEFERRED TAX EXPENSE	June 30
	2013			2012
Tax losses carried forward	$	348,179		$	242,351
Doubtful debts reserve		(18,827	)		(51,403	)
Accruals		(24,106	)		(11,301	)
		305,246			179,647

Summary of components of deferred tax asset

	March 31		June 30
	2014		2013
Tax losses carried forward	$	1,326,435	$	1,592,888
Doubtful debts reserve		290,887		219,442
Accruals		44,747		36,891
		1,662,069		1,849,221
Deferred tax assets - current	$	276,630	$	718,767
Deferred tax assets - non current		1,385,439		1,130,454
		1,662,069		1,849,221

COMPONENTS OF DEFERRED TAX ASSET	June 30
		2013		2012
Tax losses carried forward	$	1,592,888	$	2,116,283
Doubtful debts reserve		219,442		225,469
Accruals		36,891		17,187
		1,849,221		2,358,939
Deferred tax assets - current	$	718,767	$	317,850
Deferred tax assets - non current		1,130,454		2,041,089
		1,849,221		2,358,939