XML 73 R40.htm IDEA: XBRL DOCUMENT v3.24.2

Income Taxes (Tables)

9 Months Ended

12 Months Ended

Mar. 31, 2024

Jun. 30, 2023

Income Taxes [Abstract]

Schedule of United States and Foreign Components of Income (Loss) Before Income Taxes

The United States and foreign components of loss before income taxes were comprised of the following:

		For the three months ended								For the nine months ended
		March  31,								March 31,
		2024				2023				2024				2023
		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Tax jurisdictions from:
- Local – United States		$	(1,291,148	)		$	(1,137,653	)		$	(3,748,688	)		$	(2,344,369	)
- Foreign – Malaysia			(422,167	)			(1,776,915	)			(1,275,001	)			(6,231,712	)
Loss before income tax		$	(1,713,315	)		$	(2,914,568	)		$	(5,023,689	)		$	(8,576,081	)

The provision for income taxes consisted of the following:

		For the three months ended								For the nine months ended
		March 31,								March 31,
		2024				2023				2024				2023
		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Tax jurisdictions from:
- Local – United States		$	-			$	11,500			$	14,800			$	34,500
- Foreign – Malaysia			-				-				6,052				-
Provision for income taxes		$	-			$	11,500			$	20,852			$	34,500

The United States and foreign components of loss before income taxes were comprised of the following:

		For the years ended
		June 30,
		2023				2022
Tax jurisdictions from:
- Local – United States		$	(3,728,225	)		$	(3,541,832	)
- Foreign – Malaysia			(7,901,870	)			(8,188,582	)
Loss before income tax		$	(11,630,095	)		$	(11,730,414	)

Schedule of Aggregate Deferred Tax Assets

The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of:

		As of March 31, 2024				As of June 30, 2023
		(Unaudited)				(Audited)
Deferred tax assets:
Net operating loss carry forwards in U.S.		$	1,661,488			$	1,177,486
Net operating loss carry forwards in Malaysia			5,401,789				4,927,995
Amortization of debt discount			156,403				70,415
Less: valuation allowance*			(7,219,680	)			(6,175,896	)
Deferred tax assets		$	-			$	-

* Change in valuation allowance was amounted to $1,042,990 and $1,665,893 for the nine months ended March 31, 2024 and 2023, respectively.

The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of:

		As of June 30, 2023				As of June 30, 2022
Deferred tax assets:
Net operating loss carry forwards in U.S.		$	1,177,486			$	324,144
Net operating loss carry forwards in Malaysia			4,927,995				3,031,546
Stock based compensation			-				179,796
Amortization of debt discount			70,415				148,081
Less: valuation allowance*			(6,175,896	)			(3,683,567	)
Deferred tax assets		$	-			$	-

* Change in valuation allowance was amounted to $2,492,329 and $1,870,243 for the years ended June 30, 2023 and 2022, respectively.

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following:

		For the years ended
		June 30,
		2023				2022
Tax jurisdictions from:
- Local – United States		$	97,616			$	15,600
- Foreign – Malaysia			-				-
Provision for income taxes		$	97,616			$	15,600

Schedule of Effective Tax Rate

The following table reconciles the local (United States) statutory rates to the Company’s effective tax rate for the periods indicated below:

		For the years ended
		June 30,
		2023				2022
U.S. statutory rate			21.0	%			21.0	%
Differential of Malaysia statutory tax rate			2.0	%			2.1	%
Change in valuation allowance			(23.8	)%			(15.9	)%
Permanent difference (1)			-	%			(7.3	)%
Effective tax rate			(0.8	)%			(0.1	)%

(1) Permanent difference consists of legal and professional fee net with the IPO proceeds, which is non-deductible in the Company’s tax return.

X

- Definition

Schedule of provision for income taxes [table text block].

+ References

No definition available.

+ Details

Name:	tgl_ScheduleOfProvisionForIncomeTaxesTableTextBlock
Namespace Prefix:	tgl_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration