INCOME TAXES

12 Months Ended

Sep. 30, 2021

Major components of tax expense (income) [abstract]

12. INCOME TAXES

A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows:

	September 30, 2021		September 30, 2020		September 30, 2019
	$		$		$
Net loss	(8,650,763	)	(480,377	)	(78,717	)
Statutory tax rate	27.75%		27%		27%
Expected income tax recovery	(2,400,311	)	(129,702	)	(21,254	)
Deductible and non-deductible items	(256,939	)	42,136		-
Change in deferred tax assets not recognized	2,657,250		87,566		21,254
Total income tax recovery	-		-		-

The Company has the following deductible temporary differences for which no deferred tax has been recognized:

	September 30, 2021		September 30, 2020
	$		$
Non-capital losses	9,976,000		403,000
Share issue costs	1,448,000		4,000
Intangible assets	(1,000	)	(2,000	)
Valuation allowance	(11,423,000	)	(405,000	)
Net deferred income tax assets	-		-

The Company has Canadian non-capital losses of approximately $9,940,000 (2019 - $403,000), US non-capital losses of $ 30,000 (2019 - $Nil) and Australian non-capital losses of $6,000 (2019- $Nil), which may be carried forward and applied against taxable income in future years. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements and have been offset by a valuation allowance.

The Company's Canadian non-capital loss carry-forwards expire as follows:

Year of Origin	Year of Expiry	Non-Capital Losses
		$
2019	2039	79,000
2020	2040	324,000
2021	2041	9,537,000
		9,940,000