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CURRENT AND DEFERRED INCOME TAX (Tables)
 12 Months Ended
Dec. 31, 2018
Income Taxes [Abstract]  
Disclosure of income tax expense differences
The reasons for the differences are as follows:

Years ended December 31
2018

2017

 
$

$

Income before taxes
8,090

74,587

Statutory tax rate
27.00
%
26.00
%
Expected income tax
2,184

19,392

 
 
 
Decrease resulting from:
 
 
Permanent differences
25,408

(17,048
)
Foreign exchange
(13,714
)
4,806

Differences in foreign and future tax rates
(1,086
)
48,167

Mining & overseas withholding tax
4,955

5,134

Expired losses
2,928

3,658

Restructure
114,100

—

Change in estimates in respect of prior years
1,501

(484
)
Movement in deferred tax not recognized
(128,066
)
(60,540
)
Other
(89
)
36

Total income tax expense
8,121

3,121

 
 
 
Current tax expense
8,043

3,094

Deferred tax expense
78

27

Total income tax expense
8,121

3,121
Disclosure of temporary difference, unused tax losses and unused tax credits [text block]
The tax effected items that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities for the years ended December 31, 2018 and 2017 are presented below:


 
 
 
 
 
Balance as at December 31, 2018
 
Net balance at beginning of year

Recognized in statement of income

Recognized in OCI

AMT refund

Net

 
Deferred tax assets

Deferred tax liabilities

 
$

$

$

$

$

 
$

$

Marketable securities
(13,205
)
376

13,867

—

1,038

 
1,038

—

Inventory
(7,244
)
3,733

—

—

(3,511
)
 
—

(3,511
)
Property, plant and equipment
(81,294
)
(10,452
)
—

—

(91,746
)
 
940

(92,686
)
Close down and restoration provision
1,787

1,567

—

—

3,354

 
3,354

—

Convertible notes
(4,056
)
1,820

—

—

(2,236
)
 
—

(2,236
)
Carry forward tax loss and tax credits
21,830

(6,469
)
—

—

15,361

 
15,361

—

Mining and foreign withholding tax
(39,227
)
(1,916
)
—

—

(41,143
)
 
—

(41,143
)
Executive compensation plans
2,065

1,918

—

—

3,983

 
3,983

—

Deductibility of other taxes
9,021

424

—

—

9,445

 
9,445

—

Other
(4,253
)
8,921

850

(449
)
5,069

 
5,200

(131
)
Net deferred tax (liabilities) assets before set-off
(114,576
)
(78
)
14,717

(449
)
(100,386
)
 
39,321

(139,707
)
Offset tax
—

—

—

—

—

 
(31,798
)
31,798

Net deferred tax (liabilities) assets
(114,576
)
(78
)
14,717

(449
)
(100,386
)
 
7,523

(107,909
)

10.
CURRENT AND DEFERRED INCOME TAX (Continued)
 
 
 
 
Balance as at December 31, 2017
 
Net balance at beginning of year

Recognized in statement of income

Recognized in OCI

Net

 
Deferred tax assets

Deferred tax liabilities

 
$

$

$

$

 
$

$

Marketable securities
(16,949
)
—

3,744

(13,205
)
 
—

(13,205
)
Inventory
(1,984
)
(5,260
)
—

(7,244
)
 
—

(7,244
)
Property, plant and equipment
(96,614
)
15,320

—

(81,294
)
 
1,016

(82,310
)
Close down and restoration provision
3,917

(2,130
)
—

1,787

 
1,787

—

Convertible notes
(5,497
)
1,441

—

(4,056
)
 


(4,056
)
Carry forward tax loss and tax credits
20,682

3,404

(2,256
)
21,830

 
21,830

—

Mining and foreign withholding tax
(37,151
)
(2,076
)
—

(39,227
)
 
—

(39,227
)
Executive compensation plans
2,582

(517
)
—

2,065

 
2,065

—

Deductibility of other taxes
9,459

(438
)
—

9,021

 
9,021

—

Other
5,764

(9,771
)
(246
)
(4,253
)
 
2,895

(7,148
)
Net deferred tax (liabilities) assets before set-off
(115,791
)
(27
)
1,242

(114,576
)
 
38,614

(153,190
)
Offset tax
—

—

—

—

 
(38,614
)
38,614

Net deferred tax (liabilities) assets
(115,791
)
(27
)
1,242

(114,576
)
 
—

(114,576
)
Disclosure of unrecognized deductible temporary differences for which no deferred tax asset is recognized
Our unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts:
Years ended December 31
2018

2017

 
$

$

Inventory
—

11,237

Property, plant and equipment
3,330

79,336

Close down and restoration provision
30,677

38,027

Carry forward tax loss and tax credits
7,962

396,830

Mineral and foreign withholding tax
567

—

Other items
3,883

75,327

Unrecognized deductible temporary differences
46,419

600,757
Disclosure of estimated tax operating losses available to reduce future taxable income
At December 31, 2018, we had the following estimated tax operating losses available to reduce future taxable income, including both losses for which deferred tax assets are utilized to offset applicable deferred tax liabilities and losses for which deferred tax assets are not recognized as listed in the table above. Losses expire at various dates and amounts between 2019 and 2038.

As at December 31, 2018
$ 

Argentina
17,324

Mexico
41,601

Peru
71

Canada
4,256

U.S.A.
9,482

Tax operating losses
72,734