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TAXES (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		For the years ended June 30,
		2016			2015
Current income tax provision		$	1,298,472		$	1,189,135
Deferred income tax benefit			(120,765)			(64,419)
Total		$	1,177,707		$	1,124,716

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		June 30, 2016			June 30, 2015
Allowance for doubtful accounts		$	123,818		$	22,612
Inventory reserve			203,674			145,073
Impairment of investment			-			61,387
Net operating loss carry-forwards			114,122			108,932
Total			441,614			338,004
Valuation allowance			(114,122)			(108,932)
Deferred tax assets, net		$	327,492		$	229,072

Summary of Valuation Allowance [Table Text Block]

Movement of valuation allowance:

		June 30, 2016			June 30, 2015
Beginning balance		$	108,932		$	313,342
Current year addition			13,971			-
Current year reversal			-			(206,724)
Exchange difference			(8,781)			2,314
Ending balance		$	114,122		$	108,932

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		For the years ended June 30,
		2016				2015
PRC statutory tax rate			25.00	%			25.00	%
Exemption rendered by local tax authorities			(12.56)	%			(11.87)	%
Effective tax rate			12.44	%			13.13	%

Schedule of Taxes Payable [Table Text Block]

Taxes payable consists of the following:

		June 30, 2016			June 30, 2015
Income tax payable		$	1,201,641		$	982,532
Value added tax payable			69,955			93,292
Business tax and other taxes payable			6,546			429
		$	1,278,142		$	1,076,253

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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-Publisher FASB
-Name Accounting Standards Codification
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