| Income tax recovery and deferred tax assets and liabilities |
11. Income tax recovery and deferred tax assets and liabilities
A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows:
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31-Dec-20
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31-Dec-19
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31-Dec-18
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Loss before tax
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$
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(63,079,457)
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$
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(23,291,823)
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$
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(7,746,599)
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Statutory tax rate
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27
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%
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27
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%
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27
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%
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Expected income tax recovery at the statutory tax rate
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(17,031,453)
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(6,288,792)
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(2,091,582)
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Lower rate on foreign subsidiaries
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48,161
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|
13,932
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|
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—
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Change in estimates
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(115,603)
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141,562
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—
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Non-deductible items
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10,299,823
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1,920,654
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(933,010)
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Share issue costs and other
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(1,372,262)
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(281,953)
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(748,188)
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Temporary differences not recognized
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8,138,782
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4,415,472
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3,771,494
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Income tax recovery
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(32,552)
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(79,125)
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(1,286)
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The Company has the following deductible (taxable) temporary differences:
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31-Dec-20
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31-Dec-19
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31-Dec-18
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Non-capital loss carry-forwards
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$
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63,213,473
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$
|
35,846,498
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$
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18,638,208
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Property, plant and equipment
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1,845,332
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339,632
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243,969
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Share issue costs
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6,774,934
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3,757,068
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3,662,916
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SR&ED expenditures
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2,941,082
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2,430,941
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1,718,657
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ROU Assets
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(927,331)
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(1,077,556)
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|
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—
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Lease libiltiy
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1,075,773
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1,129,249
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|
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—
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Net Investment Assets
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(38,541)
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—
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—
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Other
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(374,454)
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(270,395)
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(303,327)
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74,510,268
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42,155,437
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23,960,423
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Deferred tax assets not recognized
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(74,510,268)
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(42,277,892)
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(24,369,388)
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Deferred tax liability
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—
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(122,455)
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(408,965)
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Deferred tax liability (tax effected at 27%)
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$
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—
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$
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(33,063)
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$
|
(110,420)
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