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Income Tax | 12 Months Ended
--- | ---
Aug. 31, 2017
Income Tax [Text Block] |
17. | Income Tax
| The following table reconciles the income tax benefit at the U.S. Federal statutory rate to income tax benefit at the Company’s effective tax rates as at August 31, 2017 and 2016:
|  |  | August 31 |  |  | August 31 |
|  |  | 2017 |  |  | 2016 |
|  |  | $ |  |  | $ |
| Loss before taxes |  | (1,933,473 | ) |  | (1,277,249 | )
| Expected income tax recovery |  | (676,716 | ) |  | (447,037 | )
| Non-deductible items |  | 242,716 |  |  | 101,040 |
| Change in estimates |  | (174,135 | ) |  | (897,713 | )
| Change in valuation allowance |  | 608,216 |  |  | 1,243,710 |
| Total income taxes |  | - |  |  | - |
Deferred taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes. Deferred tax assets at August 31, 2017 and 2016 are comprised of the following:
|  |  | August 31 |  |  | August 31 |
|  |  | 2017 |  |  | 2016 |
|  |  | $ |  |  | $ |
| Non-capital losses |  | 4,567,920 |  |  | 3,959,704 |
| Valuation allowance |  | (4, 567,920 | ) |  | (3,959,704 | )
| Net deferred tax assets recognized |  | - |  |  | - |
The Company has net operating loss carryforwards of approximately $13,051,000 which may be carried forward to apply against future year income tax for U.S. 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 |  | 252,000 |
2033 |  | 344,000 |
2034 |  | 3,257,000 |
2035 |  | 2,268,000 |
2036 |  | 989,000 |
2037 |  | 1,738,000 |
|  | 13,051,000 |

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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=65882285&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=65882285&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=65882285&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=65882285&loc=d3e32537-109319 + Details
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