Net deferred tax assets are $0. Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a 100% valuation allowance. Management believes it is likely that any deferred tax assets will not be realized.
| March 31, 2017 | March 31, 2016 | |||||
| Net loss before taxes | $ | 21,293 | $ | 15,564 | ||
| Statutory rate | 35% | 35% | ||||
| Computed expected tax recovery | 7,453 | 5,447 | ||||
| Change in valuation allowance | (7,453) | (5,447) | ||||
| Income tax provision | — | — | ||||
The accumulated net losses to March 31, 2017 before taxes are $110,797, resulting in an aggregate deferred tax asset/recovery of $38,779. The Company has recorded a 100% valuation allowance due to the uncertainty of realization.
The Company’s aggregate net operating losses of $110,797 expire as follows:
| March 31, 2033 | $ | 555 | ||
| March 31, 2034 | 50,947 | |||
| March 31, 2035 | 22,438 | |||
| March 31, 2036 | 15,564 | |||
| March 31, 2037 | 21,293 | |||
| $ | 110,797 |