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INCOME TAXES | 12 Months Ended
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Dec. 31, 2024
Text block [abstract] |
INCOME TAXES |
18. | INCOME TAXES
A reconciliation of income taxes at statutory rates with the reported taxes is as follows:
|  | 2024 |  |  | 2023
Net income (loss) before taxes for the year |  | $ | (82,126) |  |  | $ | 68,756 |
Statutory rate |  |  | 27.00% |  |  |  | 27.00% |
Expected income tax expense (recovery) |  | $ | (22,174) |  |  | $ | 18,564 |
Permanent differences |  |  | 11,639 |  |  |  | 7,617 |
Impact of renunciation of flow-through shares |  |  | - |  |  |  | 1,328 |
Impact of (gain) loss recognized in other comprehensive income |  |  | (4,567) |  |  |  | 328 |
Impact of (gain) loss on convertible debentures |  |  | (3,550) |  |  |  | 13,900 |
Impact on deconsolidation of IsoEnergy |  |  | - |  |  |  | (27,361) |
Change in unrecognized deductible temporary differences |  |  | 14,085 |  |  |  | (15,778) |
Other |  |  | - |  |  |  | (10) |
Deferred income tax expense (recovery) |  | $ | (4,567) |  |  | $ | (1,412) |
The Company’s income tax recovery is comprised of the following:
|  | 2024 |  |  | 2023 |
Deferred income tax expense (recovery) |  | $ | (4,567) |  |  | $ | (1,412) |
Total |  | $ | (4,567) |  |  | $ | (1,412) |
The Company’s deferred tax items recognized in other comprehensive income (loss) during the year:
|  | 2024 |  |  | 2023
Change in fair value of convertible debentures attributable to the change in credit risk |  | $ | 4,114 |  |  | $ | (328) |
Share of other comprehensive income (loss) of associate |  |  | 453 |  |  |  | - |
Change in fair value of marketable securities |  |  | - |  |  |  | (121) |
Deferred tax expense (recovery) charged to OCI |  | $ | 4,567 |  |  | $ | (449) |
The tax effects of temporary differences between amounts recorded in the Company’s accounts and the corresponding amounts as calculated for income tax purposes give rise to the following deferred tax (assets) and liabilities:
|  | 2024 |  |  | 2023
Exploration and evaluation assets |  | $ | 67,276 |  |  | $ | 46,658 |
Convertible debentures |  |  | 12,928 |  |  |  | 1,559 |
Non-capital losses |  |  | (103,636) |  |  |  | (73,070) |
Investment in associate |  |  | 23,432 |  |  |  | 24,853 |
Net deferred tax liabilities |  | $ | - |  |  | $ | - |
Movement in the Company’s deferred tax liability balance in the year is as follows:
|  | 2024 |  |  | 2023
Opening balance |  | $ | - |  |  | $ | 867 |
Recognized in income tax expense (recovery) |  |  | (4,567) |  |  |  | 657 |
Recognized in OCI/equity |  |  | 4,567 |  |  |  | (449) |
Disposal due to deconsolidation of IsoEnergy |  |  | - |  |  |  | (1,075) |
Net deferred tax liabilities |  | $ | - |  |  | $ | - |
NexGen Energy Ltd. Notes to the Consolidated Financial Statements For the year ended December 31, 2024 and 2023 (expressed in thousands of Canadian dollars, except as otherwise stated) The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows:
Temporary Differences |  | 2024 |  |  | Expiry Date Range |  | 2023 |  |  | Expiry Date Range
Non-capital losses available for future periods |  | $ | 122,375 |  |  | 2029 to 2044 |  | $ | 96,732 |  |  | 2029 to 2043
Convertible debentures |  |  | 9,925 |  |  | - |  |  | - |  |  | -
Other |  |  | 41,489 |  |  | - |  |  | 14,404 |  |  | -
The Company has non-capital losses of $506,213 (2023: $368,087) which expire from 2029 to 2044. In addition, the company has investment tax credits of $427 which expire in 2032. Tax attributes are subject to review, and potential adjustment, by tax authorities.

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