XML 89 R17.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Income Tax | 12 Months Ended
--- | ---
Oct. 31, 2012
Income Tax [Text Block] |
11. | Income Tax
The Company is subject US tax laws. The following table reconciles the expected income taxes expense (recovery) at the US statutory income tax rates to the amounts recognized in the consolidated statements of operations for the years ended October 31, 2012 and 2011:
|  |  | 2012 |  |  | 2011 |
| Income (loss) before taxes | $ | (251,510 | ) | $ | (538,226 | )
| Statutory tax rate |  | 35% |  |  | 35% |
| Expected income tax (recovery) | $ | (88,028 | ) | $ | (188,379 | )
| Non-deductible items | $ | 7,080 |  | $ | 62,926 |
| Change in estimates | $ | (58,748 | ) | $ | Nil |
| Change in valuation allowance | $ | 139,696 |  | $ | 125,453 |
| Total income taxes (recovery) | $ | Nil |  | $ | Nil |
Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes. Deferred tax assets (liabilities) at October 31, 2012 and 2011 are comprised of the following:
|  |  | 2012 |  |  | 2011 |
| Net capital loss carryforwards | $ | 1,548,213 |  | $ | 1,408,175 |
| Financial instrument | $ | (341 | ) | $ | - |
|  | $ | 1,547,871 |  | $ | 1,408,175 |
| Valuation allowance | $ | (1,547,871 | ) | $ | (1,408,175 | )
| Net deferred tax assets (liabilities) | $ | Nil |  | $ | Nil |
The Company has net operating loss carryforwards of approximately $4,423,000 which may be carried forward to apply against future year income tax for US tax purposes.
Year |  | Amount |
2025 | $ | 76,000 |
2026 |  | 508,000 |
2027 |  | 1,056,000 |
2028 |  | 720,000 |
2029 |  | 753,000 |
2030 |  | 552,000 |
2031 |  | 538,000 |
2032 |  | 220,000 |
Total | $ | 4,423,000 |
The deferred tax assets have not been recognized because at this stage of the Company’s development, it is not determinable that future taxable profit will be available against which the Company can utilize such deferred income tax assets.

X
- 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 Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: 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=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: 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 7: 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 8: 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 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration