INCOME TAXES

3 Months Ended

Jan. 31, 2016

(5)	INCOME TAXES

The Company recognises deferred tax assets or liabilities for the expected future consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.

The Company is subject to taxation in the United States.

The Company's net deferred taxes at January 31, 2016 is summarized as follows:

	USA 2015 $			Total 2015 $
Deferred tax assets

Net operating loss carry-forward		827,643			827,643
Less valuation allowance		(827,643	)		(827,643	)
Net deferred taxes		-			-

The Company has available net operating loss carry forwards as of January 31, 2016, which are subject to limitations, aggregating approximately $2,285,000 which would expire in years 2028 through 2034.

The Company's tax returns for all years since fiscal 2012 remain open to examination by the respective tax authorities. There are currently no tax examinations in progress.

Aurum, Inc. 10-Q