Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Income tax (Tables)

v3.22.2
Income tax (Tables)
 12 Months Ended
Mar. 31, 2022
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:

 

 

 

For the Year Ended March 31,

 

 

 

2022

 

 

2021

 

Earnings (loss) for the year

 

$

(1,749,870

)

 

$

(672,915

)

 

 

 

 

 

 

 

Expected income tax (recovery)

 

 

(181,189

)

 

 

(108,533

)

Change in statutory, foreign tax, foreign exchange rates and other

 

 

(51,491

)

 

 

(32,104

)

Permanent Difference

 

 

86,824

 

 

 

91,072

 

Change in unrecognized deductible temporary differences

 

 

145,856

 

 

 

49,565

 

Total income tax expense (recovery)

 

$

—

 

 

$

—

 
Summary of Net Deferred Tax Asset (Liability)

 

 

Year Ended March 31,

 

 

 

2022

 

 

2021

 

Deferred Tax Assets (liabilities)

 

 

 

 

 

 

Non-capital losses available for future period

 

 

569,585

 

 

 

435,806

 

 

 

 

569,585

 

 

 

435,806

 

Unrecognized deferred tax assets

 

 

(569,585

)

 

 

(435,806

)

Net deferred tax asset (liability)

 

$

—

 

 

$

—

 
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:

 

 

 

As of March 31,

 

 

 

 

As of March 31,

 

 

 

 

 

2022

 

 

Expiry Date Range

 

2021

 

 

Expiry Date Range

Temporary Differences

 

 

 

 

 

 

 

 

 

 

Non-capital losses available for future period

 

 

3,350,502

 

 

No expiry date

 

 

2,492,526

 

 

No expiry date