XML 85 R49.htm IDEA: XBRL DOCUMENT
v3.24.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Taxes [Abstract] |
Schedule of components of income tax expense | The major components of income tax expense for the years ended December 31, 2023 and 2022 are set out below:
FOR THE YEARS ENDED DEC. 31 (MILLIONS) | 2023 |  | 2022
Current income tax expense | $ | 1,908 |  |  | $ | 1,278 |
Deferred income tax (recovery)/expense |  |  |
Origination and reversal of temporary differences | (789) |  |  | 690 |
Recovery arising from previously unrecognized tax assets | (116) |  |  | (447) |
Change in tax rates and new legislation | 8 |  |  | (52) |
Total deferred income tax (recovery)/expense | (897) |  |  | 191 |
Income tax expense | $ | 1,011 |  |  | $ | 1,469 |
Schedule of income tax rates | The company’s effective income tax rate is different from the company’s domestic statutory income tax rate due to the following differences set out below:
FOR THE YEARS ENDED DEC. 31 | 2023 |  | 2022
Statutory income tax rate | 26 | % |  | 26 | %
(Reduction)/increase in rate resulting from: |  |  |
Portion of gains subject to different tax rates | (8) |  |  | (2) |
Taxable income attributable to non-controlling interests | (6) |  |  | (3) |
International operations subject to different tax rates | 1 |  |  | 3 |
Recognition of deferred tax assets | (5) |  |  | (6) |
Non-recognition of the benefit of current year’s tax losses | 5 |  |  | 3 |
Non-deductible expenses | 7 |  |  | 3 |
Other | (3) |  |  | (2) |
Effective income tax rate | 17 | % |  | 22 | %
Schedule of deferred income tax assets and liabilities | Deferred income tax assets and liabilities as at December 31, 2023 and 2022 relate to the following:
AS AT DEC. 31 (MILLIONS) | 2023 |  | 2022
Non-capital losses (Canada) | $ | 2,132 |  |  | $ | 1,666 |
Capital losses (Canada) | 5 |  |  | 77 |
Losses (U.S.) | 3,472 |  |  | 3,959 |
Losses (International) | 2,900 |  |  | 1,814 |
Difference in basis | (30,158) |  |  | (27,303) |
Total net deferred tax liabilities | $ | (21,649) |  |  | $ | (19,787) |
Disclosure of unrecognized deferred tax assets | The following table details the expiry date, if applicable, of the unrecognized deferred tax assets:
AS AT DEC. 31 (MILLIONS) | 2023 |  | 2022
One year from reporting date | $ | 10 |  |  | $ | 29 |
Two years from reporting date | 13 |  |  | 11 |
Three years from reporting date | 17 |  |  | 12 |
After three years from reporting date | 667 |  |  | 672 |
Do not expire | 2,212 |  |  | 1,833 |
Total | $ | 2,919 |  |  | $ | 2,557 |
Schedule of components of income taxes in other comprehensive income | The components of the income taxes in other comprehensive income for the years ended December 31, 2023 and 2022 are set out below:
FOR THE YEARS ENDED DEC. 31 (MILLIONS) | 2023 |  | 2022
Revaluation of property, plant and equipment | $ | 120 |  |  | $ | 1,187 |
Financial contracts and power sale agreements | (29) |  |  | 315 |
Fair value through OCI securities | 76 |  |  | (127) |
Foreign currency translation | (72) |  |  | 87 |
Revaluation of pension obligation | 5 |  |  | 61 |
Total deferred tax in other comprehensive income | $ | 100 |  |  | $ | 1,523 |

X
- Definition Disclosure Of Components Of Income Tax Expense [Table Text Block] + References No definition available. + Details
Name: | bn_DisclosureOfComponentsOfIncomeTaxExpenseTableTextBlock
Namespace Prefix: | bn_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Components Of Income taxes In Other Comprehensive Income [Table Text Block] + References No definition available. + Details
Name: | bn_DisclosureOfComponentsOfIncometaxesInOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | bn_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Income Tax Rates [Table Text Block] + References No definition available. + Details
Name: | bn_DisclosureOfIncomeTaxRatesTableTextBlock
Namespace Prefix: | bn_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Unrecognized Deferred Tax Assets [Table Text Block] + References No definition available. + Details
Name: | bn_DisclosureOfUnrecognizedDeferredTaxAssetsTableTextBlock
Namespace Prefix: | bn_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Income Taxes [Abstract] + References No definition available. + Details
Name: | bn_IncomeTaxesAbstract
Namespace Prefix: | bn_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfDeferredTaxesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration