Taxes (Tables)
|
9 Months Ended |
Mar. 31, 2026 |
| Taxes [Abstract] |
|
| Schedule of Provision for Income Tax |
The provision for income tax
for the three months ended March 31, 2026 and 2025 consists of the following:
| | |
For the Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| Current income tax expense | |
$ | 84,954 | | |
| 26,608 | |
| Deferred income tax credit | |
| (55,361 | ) | |
| (8,014 | ) |
| Total income tax expense | |
$ | 29,593 | | |
| 18,594 | |
The provision for income tax
for the nine months ended March 31, 2026 and 2025 consists of the following:
| | |
For the Nine Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| Current income tax expense | |
$ | 189,487 | | |
| 26,608 | |
| Deferred income tax credit | |
| (78,855 | ) | |
| (8,014 | ) |
| Total income tax expense | |
$ | 110,632 | | |
| 18,594 | |
|
| Schedule of Reconciles the Statutory Tax Rate |
The following table reconciles
the statutory tax rate to the Company’s effective tax the three months ended March 31, 2026 and 2025:
| | |
For the Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| Loss before tax | |
$ | (1,499,218 | ) | |
$ | (358,366 | ) |
| Statutory state tax rate | |
| 21 | % | |
| 21 | % |
| Income tax credit at the federal statutory rate | |
| (314,835 | ) | |
| (75,257 | ) |
| Change in valuation allowance | |
| 324,578 | | |
| 70,779 | |
| Tax effect on other tax jurisdiction | |
| (1,038 | ) | |
| 1,919 | |
| Non-deductible expense | |
| 20,888 | | |
| 21,153 | |
| Total income tax expense | |
$ | 29,593 | | |
$ | 18,594 | |
The following table reconciles
the statutory tax rate to the Company’s effective tax the nine months ended March 31, 2026 and 2025:
| | |
For the Nine Months Ended March 31 | |
| | |
2026 | | |
2025 | |
| Loss before tax | |
$ | (3,342,245 | ) | |
$ | (1,511,008 | ) |
| Statutory state tax rate | |
| 21 | % | |
| 21 | % |
| Income tax credit at the federal statutory rate | |
| (701,871 | ) | |
| (317,312 | ) |
| Change in valuation allowance | |
| 772,953 | | |
| 329,955 | |
| Tax effect on other tax jurisdiction | |
| 342 | | |
| (15,202 | ) |
| Non-deductible expense | |
| 39,208 | | |
| 21,153 | |
| Total income tax expense | |
$ | 110,632 | | |
$ | 18,594 | |
|
| Schedule of Deferred Tax Assets and Liabilities |
The Company’s deferred
tax assets and liabilities consist of the following:
| | |
March 31 2026 | | |
June 30, 2025 | |
| Deferred tax assets: | |
| | |
| |
| Allowance for credit loss | |
$ | 42,795 | | |
$ | 8,260 | |
| Allowance for credit loss - loan receivable | |
| 73,500 | | |
| - | |
| Refundable liability net of right of return asset | |
| 28,292 | | |
| - | |
| Non-capital loss carried forward | |
| 1,234,620 | | |
| 535,167 | |
| Valuation allowance | |
| (1,308,120 | ) | |
| (535,167 | ) |
| Total deferred tax assets | |
$ | 71,087 | | |
$ | 8,260 | |
| Deferred tax liabilities: | |
| | | |
| | |
| Intangible asset – license | |
| (75,332 | ) | |
| (91,360 | ) |
| Total deferred tax liabilities | |
| (75,332 | ) | |
| (91,360 | ) |
| Deferred tax liabilities, net | |
$ | (4,245 | ) | |
$ | (83,100 | ) |
|