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Income tax note | 12 Months Ended
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Mar. 31, 2024
Income tax note |
Income tax note | 17. Income tax note The reconciliation of the combined Canadian federal and provincial statutory income tax rate of 26.5% (2023 – 26.5%) to the effective tax rate is as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
Net Income/(Loss) before recovery of income taxes |  | (51,159,048) |  | (3,206,403)
Expected income tax (recovery)/expense |  | (13,557,148) |  | (849,679)
Difference in foreign tax rates |  | 966 |  | —
Listing expense |  | 10,992,625 |  | —
Other permanent expenses |  | 2,061,001 |  | —
Change in tax benefits not recognized |  | 502,556 |  | 849,679
Income tax (recovery)/expense |  | — |  | —
​ Unrecognized deferred tax asset Deferred taxes are provided as a result of temporary differences that arise due to the differences between the income tax values and the carrying amounts of assets and liabilities. Deferred tax assets have not been recognized in respect of the following deductible temporary differences: ​
​ | ​ | ​ | ​ | ​
Unrecognized deductible temporary differences |  | 2024 |  | 2023
Equipment |  | 240 |  | —
Other |  | 124,132 |  | 22,035
Non-capital losses carried forward-Canada |  | 1,357,347 |  | —
Non-capital losses carried forward-Australia |  | 164,861 |  | 1,699,257
​ |  | 1,646,580 |  | 1,721,292
​ The Company’s non-capital loss carry forwards will expire as noted in the table below: ​
​ | ​ | ​ | ​ | ​
Year of expiry |  | Canada |  | Australia
2044 |  | 1,357,347 |  | —
Indefinite |  | — |  | 164,861
Total |  | 1,357,347 |  | 164,861
​

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- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=12&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2023-03-23 + Details
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