INCOME TAXES

3 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The components of earnings (loss) before income taxes, after adjusting the earnings (loss) for non-controlling interests, are as follows

	Three months ended   December 31,
	2016			2015
United States	$	2,062,000		$	(726,000	)
Canada	(368,000		)	(876,000		)
	$	1,694,000		$	(1,602,000	)

The components of the income tax provision (benefit) are as follows:

	Three months ended   December 31,
	2016			2015
Current	$	(72,000	)	$	(209,000	)
Deferred	125,000			16,000
	$	53,000		$	(193,000	)

Consolidated taxes do not bear a customary relationship to pretax results due primarily to the fact that the Company is taxed separately in Canada based on Canadian source operations and in the U.S. based on consolidated operations, and essentially all deferred tax assets, net of relevant offsetting deferred tax liabilities, are not estimated to have a future benefit as tax credits or deductions. In addition, income from our non-controlling interest in the Kukio Resort land development partnerships is treated as non-unitary for state of Hawaii unitary filing purposes, thus unitary Hawaii losses provide limited sheltering of such non-unitary income.