8. INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2013

	Year Ended
	June 30,			June 30,
	2013			2012
	Amount	Impact on Rate		Amount		Impact on Rate

Income Tax Expense (Benefit) at Australia Statutory Rate	$(492,334)	(32.75)	%	$	(3,482,491)		(30.00)	%

Expenses paid by parent on behalf of Foreign subsidiary	351,935	23.41	%		-		0.00	%

R&D Refundable Tax Credit	(60,461)	(4.02)	%		(173,928)		(1.50)	%

Reduction of NOL Carryforward Due to R&D Tax Credit	60,461	4.02	%		173,928		1.50	%

Deferred Tax Valuation Allowance	(363,703)	(24.20)	%		3,211,114		27.66	%

Foreign Exchange Rate Changes	443,641	29.52	%		97,449		0.84	%

Total Income Tax Expense (Benefit)	$(60,461)	(4.02)	%	$	(173,928)		(1.50)	%

	June 30,		June 30,
	2013		2012
Current Deferred Tax Assets
Provision for annual leave	$	14,813	$	12,630
Superannuation		3,699		4,114
Total Current Deferred Tax Assets	$	18,512	$	16,744

Current Deferred Tax Liabilities
Prepaid Investor Services	$		$	-
Prepaid expenses				-
Prepaid insurance				-
Accounts Payable/trade creditors				-
Patent Costs				-
Total Current Deferred Tax Liabilities	$		$	-

Non-Current Deferred Tax Assets
Prepaid Investor Services	$	1,393,309	$	2,284,981
Capital Raising Costs		27,752		30,870
Legal Costs		28,337		30,948
Intellectual Property		13,854		15,410
Patent Costs		32,425		23,518
Formation Expense		8,491		9,445
Net Operating Loss Carryover		2,418,795		1,893,262
Foreign Exchange Loss (OCI)		73,377		107,675
Total Non-Current Deferred Tax Assets		3,996,340		4,396,109
Deferred Tax Valuation Allowance		(4,014,862)		(4,412,853)
Total Non-Current Deferred Tax Assets		(18,512)		(16,744)

Total Deferred Tax Assets (Net)	$		$	-