Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Details 1)

v3.5.0.2
INCOME TAXES (Details 1) - USD ($)
12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Income Tax Expense (Benefit) at Australia Statutory Rate $ (2,190,750) $ (672,087)
Expenses Paid by Parent on Behalf of Foreign Subsidiary 1,113,419 156,410
R&D Refundable Tax Credit (72,538) (77,470)
Reduction of NOL Carryforward Due to R&D Tax Credit 72,538 77,470
Change in Deferred Tax Valuation Allowance 900,761 (355,636)
Foreign Exchange Rate Changes 104,032 793,843
Income Taxes Expense (Benefit) $ (72,538) $ (77,470)
Income Tax Expense (Benefit) at Australia Statutory Rate, Impact on Rate (23.10%) (19.26%)
Expenses paid by parent on behalf of foreign subsidiary, Impact on Rate 11.74% 4.48%
R&D Refundable Tax Credit, Impact on Rate, Impact on Rate (0.76%) (2.22%)
Reduction of NOL Carryforward Due to R&D Tax Credit, Impact on Rate 0.76% 2.22%
Change in deferred Tax Valuation Allowance, Impact on Rate 9.50% (10.19%)
Foreign Exchange Rate Changes, Impact on Rate 1.10% 22.74%
Total Income Tax Expense (Benefit), Impact on Rate (0.76%) (2.22%)