Income tax (Tables)
|
12 Months Ended |
Mar. 31, 2025 |
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| Major components of tax expense (income) [abstract] |
|
| Reconciliation of Income Taxes at Statutory Rates |
A reconciliation of income taxes at statutory rates with the reported taxes is as follows:
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For the Year Ended March 31, |
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2025 |
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2024 |
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|
2023 |
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Earnings (loss) for the year |
|
$ |
(6,067,232 |
) |
|
$ |
(6,739,120 |
) |
|
$ |
(5,457,763 |
) |
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Expected income tax (recovery) |
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|
(1,014,891 |
) |
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|
(821,664 |
) |
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|
(337,114 |
) |
Change in statutory, foreign tax, foreign exchange rates and other |
|
|
65,781 |
|
|
|
9,519 |
|
|
|
(11,013 |
) |
Permanent Difference |
|
|
252 |
|
|
|
181,257 |
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|
|
9,093 |
|
Provision to NOLs |
|
|
927,476 |
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|
181,755 |
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|
— |
|
Change in unrecognized deductible temporary differences |
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|
(115,279 |
) |
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|
449,133 |
|
|
|
339,034 |
|
Total income tax expense (recovery) |
|
$ |
(136,661 |
) |
|
$ |
— |
|
|
$ |
— |
|
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| Summary of Net Deferred Tax Asset (Liability) |
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As of March 31, |
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2025 |
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|
2024 |
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Deferred Tax Assets (liabilities) |
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Unrealized gain/loss |
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$ |
17,145 |
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$ |
— |
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Foreign currency (OCI) |
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|
10,383 |
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|
— |
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Intangible assets |
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|
— |
|
|
|
97,589 |
|
Depreciation |
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|
(296,736 |
) |
|
|
(222,171 |
) |
Non-capital losses available for future period |
|
|
1,597,167 |
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1,553,164 |
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|
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|
1,300,431 |
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|
1,428,582 |
|
Unrecognized deferred tax assets |
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|
(1,300,431 |
) |
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|
(1,428,582 |
) |
Net deferred tax asset (liability) |
|
$ |
— |
|
|
$ |
— |
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| Summary of Temporary Differences |
The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows:
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March 31, 2025 |
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Expiry Date Range |
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March 31, 2024 |
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Expiry Date Range |
Temporary Differences |
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Non-capital losses available for future period - finite |
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$ |
704,429 |
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5 years |
|
$ |
660,042 |
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|
5 years |
Non-capital losses available for future period |
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$ |
6,639,511 |
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No expiry date |
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$ |
6,473,993 |
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No expiry date |
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