Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.21.2
Income Tax (Tables)
12 Months Ended
Aug. 31, 2021
Income Tax  
Schedule of effective income tax rate reconciliation

 

 

August 31

2021

 

 

August 31

2020

 

 

 

 

 

 

Loss before taxes

 

 

(4,169,832

 

 

(3,987,018 )

Expected income tax recovery

 

 

(800,952 )

 

 

(856,424 )

Non-deductible items

 

 

(142,895

 

 

200,573

 

Change in estimates

 

 

(56,316

 

 

92,083

 

Effect of changes in foreign and long-term tax rates

 

 

-

 

 

 

-

 

Change in valuation allowance

 

 

1,006,256

 

 

 

566,087

 

Total income taxes

 

 

6,093

 

 

 

2,319

 

Schedule of deferred taxes assets and liabilities

 

 

August 31

2021

$

 

 

August 31

2020

$

 

Non-capital losses

 

 

6,580,183

 

 

 

5,585,897

 

Marketable securities

 

 

14,270

 

 

2,300

 

Total unrecognized deferred tax assets

 

 

6,594,453

 

 

 

5,588,197

 

Schedule of carryforwards net operating loss

Year

 

Amount

 

 

Canada

 

2026

 

 

 

 

 

-

 

2025

 

 

76,000

 

 

 

-

 

2026

 

 

508,000

 

 

 

-

 

2027

 

 

1,056,000

 

 

 

-

 

2028

 

 

720,000

 

 

 

-

 

2029

 

 

753,000

 

 

 

-

 

2030

 

 

552,000

 

 

 

-

 

2031

 

 

538,000

 

 

 

-

 

2032

 

 

252,000

 

 

 

-

 

2033

 

 

344,000

 

 

 

-

 

2034

 

 

3,257,000

 

 

 

-

 

2035

 

 

1,934,000

 

 

 

-

 

2036

 

 

1,150,000

 

 

 

-

 

2037

 

 

1,857,000

 

 

 

-

 

2038

 

 

-

 

 

 

-

 

2039

 

 

-

 

 

 

121,000

 

2040

 

 

-

 

 

 

318,000

Indefinite

 

 

18,186,000

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Total

 

 

31,183,000

 

 

 

439,000