Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.22.2.2
Income Tax (Tables)
12 Months Ended
Aug. 31, 2022
Income Tax  
Schedule of effective income tax rate reconciliation

 

 

August 31

2022

 

 

August 31

2021

 

 

 

$

 

 

$

 

Loss before taxes

 

 

(7,383,653

)

 

 

(4,169,832 )

Expected income tax recovery

 

 

(1,619,854

)

 

 

(800,952 )

Non-deductible items

 

 

(280,155

)

 

 

(142,895 )

Change in estimates

 

 

(44,867

)

 

 

(56,316 )

Effect of changes in foreign and long-term tax rates

 

 

23,625

 

 

 

-

 

Change in valuation allowance

 

 

1,271,207

 

 

 

1,006,256

 

Total income taxes

 

 

-

 

 

 

6,093

 

Schedule of deferred taxes assets and liabilities

 

 

August 31

2022

$

 

 

August 31

2021

$

 

Non-capital losses

 

 

7,747,485

 

 

 

6,580,183

 

Marketable securities

 

 

118,175

 

 

 

14,270

 

Total unrecognized deferred tax assets

 

 

7,865,660

 

 

 

6,594,453

 

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

 

 

-

 

 

 

-

 

2040

 

 

-

 

 

 

270,000

2041

 

 

-

 

 

 

-

 

2042

 

 

-

 

 

 

380,000

 

Indefinite

 

 

23,390,000

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Total

 

 

36,387,000

 

 

 

650,000