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Income taxes | 12 Months Ended
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Dec. 31, 2019
Major components of tax expense (income) [abstract] |
Income taxes [Text Block] | 24. Income taxes (a) Income tax expense The income tax recorded in the consolidated statements of loss for the years ended December 31, 2019 and 2018 is presented as follows:
|  |  | 2019 |  |  | 2018 |
|  |  | $ |  |  | $ |
Current income tax |  |  |  |  |  |
Expense for the year |  | 797 |  |  | 797 |
Adjustment in respect of prior years |  | - |  |  | 25 |
Current income tax expense |  | 797 |  |  | 822 |
Deferred income tax (Note 24 (b)): |  |  |  |  |  |
| Origination and reversal of temporary differences |  | (45,186 | ) |  | (36,471 | )
| Impact of changes in tax rates |  | 98 |  |  | 253 |
| Change in unrecognized deductible temporary differences |  | 3,891 |  |  | 25 |
| Adjustments in respect of prior years |  | - |  |  | 223 |
Deferred income tax recovery |  | (41,197 | ) |  | (35,970 | )
Income tax recovery |  | (40,400 | ) |  | (35,148 | )
The provision for income taxes presented in the consolidated statements of loss differs from the amount that would arise using the statutory income tax rate applicable to income of the consolidated entities, as a result of the following:
|  |  |  | 2019 |  |  | 2018 |
|  |  |  | $ |  |  | $ |
Loss before income taxes |  | (274,595 | ) |  | (140,735 | )
Income tax provision calculated using the combined Canadian federal |  |  |  |  |  |
|  | and provincial statutory income tax rate |  | (73,042 | ) |  | (37,576 | )
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |
| Non-deductible expenses, net |  | 738 |  |  | 719 |
| Non-deductible portion of capital losses, net |  | 4,877 |  |  | 856 |
| Non-deductible (non-taxable) foreign exchange loss (gain) |  | (357 | ) |  | 787 |
| Tax rate changes of deferred income taxes |  | 98 |  |  | 253 |
| Differences in foreign statutory tax rates |  | 19,758 |  |  | (1,043 | )
| Foreign withholding taxes |  | 584 |  |  | 583 |
| Share of equity loss of associates |  | 2,954 |  |  | - |
| Tax benefits not recognized |  | 3,891 |  |  | 25 |
| Other, net |  | 99 |  |  | 248 |
Total income tax recovery |  | (40,400 | ) |  | (35,148 | )
The 2019 Canadian federal and provincial statutory income tax rate is 26.6% (26.7% in 2018). The 2019 effective tax rate reflects an income tax expense of $0.1 million relating to the reduction of the Québec tax rate from 11.6% to 11.5% in 2020. The 2018 effective tax rate reflects an income tax expense of $0.3 million relating to the reduction of the Québec tax rate from 11.7% to 11.5% in 2020. . (b) Deferred income taxes The components that give rise to deferred income tax assets and liabilities are as follows:
|  | December 31, |  |  | December 31, |
|  |  | 2019 |  |  | 2018 |
|  |  | $ |  |  | $ |
Deferred tax assets: |  |  |  |  |  |
| Stream interests |  | 28,826 |  |  | 7,133 |
| Deferred and restricted share units |  | 2,865 |  |  | 2,032 |
| Share and debt issue expenses |  | (113 | ) |  | 989 |
| Other assets |  | 149 |  |  | 120 |
| Non-capital losses |  | 170 |  |  | - |
|  |  | 31,897 |  |  | 10,274 |
Deferred tax liabilities: |  |  |  |  |  |
| Royalty interests and exploration and evaluation assets |  | (77,641 | ) |  | (88,787 | )
| Convertible debentures |  | (3,632 | ) |  | (4,866 | )
| Investments |  | 1,911 |  |  | (3,898 | )
|  |  | (79,362 | ) |  | (97,551 | )
Deferred tax liability, net |  | (47,465 | ) |  | (87,277 | )
Deferred tax assets and liabilities have been offset in the balance sheets where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset.
|  | Dec. 31, 2018 |  |  | Statement of loss |  |  | Equity |  |  | Other comprehen-sive income |  |  | Translation adjustments |  |  | Dec. 31, 2019 |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stream interests |  | 7,133 |  |  | 21,693 |  |  | - |  |  | - |  |  | - |  |  | 28,826 |
Share and debt issue expenses |  | 989 |  |  | (1,036 | ) |  | (66 | ) |  | - |  |  | - |  |  | (113 | )
Deferred and restricted share units |  | 2,032 |  |  | 726 |  |  | 107 |  |  | - |  |  | - |  |  | 2,865 |
Non-capital losses |  | - |  |  | 170 |  |  | - |  |  | - |  |  | - |  |  | 170 |
Other assets |  | 120 |  |  | 29 |  |  | - |  |  | - |  |  | - |  |  | 149 |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Royalty interests and exploration and evaluation assets |  | (88,787 | ) |  | 11,769 |  |  | - |  |  | (949 | ) |  | 326 |  |  | (77,641 | )
Investments |  | (3,898 | ) |  | 6,612 |  |  | - |  |  | (803 | ) |  | - |  |  | 1,911 |
Convertible debentures |  | (4,866 | ) |  | 1,234 |  |  | - |  |  | - |  |  | - |  |  | (3,632 | )
|  | (87,277 | ) |  | 41,197 |  |  | 41 |  |  | (1,752 | ) |  | 326 |  |  | (47,465 | )
The 2018 movement for deferred tax assets and deferred tax liabilities may be summarized as follows:
|  | Dec. 31, 2017 |  |  | Statement of loss |  |  | Equity |  |  | Other comprehen-sive income |  |  | Translation adjustments |  |  | Dec. 31, 2018 |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stream interests |  | 7,793 |  |  | (660 | ) |  | - |  |  | - |  |  | - |  |  | 7,133 |
Share and debt issue expenses |  | 2,286 |  |  | (1,297 | ) |  | - |  |  | - |  |  | - |  |  | 989 |
Deferred and restricted share units |  | 2,032 |  |  | (140 | ) |  | 140 |  |  | - |  |  | - |  |  | 2,032 |
Non-capital losses |  | 1,015 |  |  | (1,015 | ) |  | - |  |  | - |  |  | - |  |  | - |
Other assets |  | 223 |  |  | (103 | ) |  | - |  |  | - |  |  | - |  |  | 120 |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Royalty interests and exploration and evaluation assets |  | (123,772 | ) |  | 37,574 |  |  | - |  |  | (2,038 | ) |  | (551 | ) |  | (88,787 | )
Investments |  | (10,054 | ) |  | 192 |  |  | - |  |  | 5,964 |  |  | - |  |  | (3,898 | )
Convertible debentures |  | (6,047 | ) |  | 1,181 |  |  | - |  |  | - |  |  | - |  |  | (4,866 | )
Other liabilities |  | (238 | ) |  | 238 |  |  | - |  |  | - |  |  | - |  |  | - |
|  | (126,762 | ) |  | 35,970 |  |  | 140 |  |  | 3,926 |  |  | (551 | ) |  | (87,277 | )
(c) Unrecognized deferred tax liabilities The aggregate amount of taxable temporary differences associated with investments in subsidiaries, for which deferred tax liabilities have not been recognized as at December 31, 2019, is $39.1 million ($76.8 million as at December 31, 2018). No deferred tax liabilities are recognized on the temporary differences associated with investments in subsidiaries because the Company controls the timing of reversal and it is not probable that they will reverse in the foreseeable future.

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