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INCOME TAXES | 12 Months Ended
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Nov. 30, 2014
INCOME TAXES [Text Block] |
10. | INCOME TAXES
| The Company has non-capital losses of approximately $15,831,371 (2013: $14,371,847) available, which can be applied against future taxable income and which expire as follows:
| 2025 | $ | 188,494 |
| 2026 |  | 609,991 |
| 2027 |  | 1,731,495 |
| 2028 |  | 3,174,989 |
| 2029 |  | 2,792,560 |
| 2030 |  | 2,044,857 |
| 2031 |  | 854,218 |
| 2032 |  | 1,073,610 |
| 2033 |  | 1,410,557 |
| 2034 |  | 1,950,600 |
|  | $ | 15,831,371 |
The reconciliation of income taxes at statutory income tax rates to the income tax expense is as follows:
|  |  | November |  |  | November |
|  |  | 30, 2014 |  |  | 30, 2013 |
| Loss before income taxes | $ | (2,722,412 | ) | $ | (2,024,211 | )
| Applicable statutory tax rate |  | 35.0% |  |  | 35.0% |
| Income tax recovery at statutory rate |  | (952,844 | ) |  | (708,474 | )
| Permanent differences |  | 270,134 |  |  | 60,566 |
| Tax benefit not recognized |  | 682,710 |  |  | 647,908 |
| Income taxes – current and deferred | $ | - |  | $ | - |
Reconciliation of statutory tax rate to the effective income tax rate is as follows:
| Federal statutory income tax rate |  | 35.0% |
| Deferred tax asset valuation allowance |  | (35.0)% |
| Deferred tax asset components as of November 30, 2014 and 2013 are as follows:
|  |  | 2014 |  |  | 2013 |
| Operating losses available to offset future income-taxes | $ | 15,831,371 |  | $ | 14,371,847 |
| Expected Income tax recovery at statutory rate of 35% (2012: 35.0% | $ | (5,540,980 | ) | $ | (5,030,146 | )
| Undeducted share issue costs |  | - |  |  | (239,958 | )
| Valuation Allowance | $ | 5,540,980 |  | $ | 5,270,104 |
| Net deferred tax assets |  | - |  |  | - |
As the company has not earned significant revenues, it has provided a 100 per cent valuation allowance on the net deferred tax asset as of November 30, 2014 and 2013. Management believes the Company has no uncertain tax position

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 + Details
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