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17. INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2017
Income Taxes |
INCOME TAXES | The income tax recovery balance from continuing operations consists of:
(in thousands) |  |  |  | 2017 |  | 2016
Deferred income tax: |  |  |  |  |  |
Origination of temporary differences |  |  | $ | 1,211 | $ | 922
Tax benefit-previously unrecognized tax assets |  |  |  | 2,482 |  | 3,016
Prior year over (under) provision |  |  |  | (55) |  | 17
|  |  |  | 3,638 |  | 3,955
Income tax recovery |  |  | $ | 3,638 | $ | 3,955
The Company operates in multiple industries and jurisdictions, and the related income is subject to varying rates of taxation. The combined Canadian tax rate reflects the federal and provincial tax rates in effect in Ontario, Canada for each applicable year. A reconciliation of the combined Canadian tax rate to the Company’s effective rate of income tax is as follows:
(in thousands) |  |  |  | 2017 |  | 2016
Loss before taxes from continuing operations |  |  | $ | (17,725) | $ | (15,654)
Combined Canadian tax rate |  |  |  | 26.50% |  | 26.50%
Income tax recovery at combined rate |  |  |  | 4,697 |  | 4,148
Difference in tax rates |  |  |  | 1,531 |  | 9,679
Non-deductible amounts |  |  |  | (1,624) |  | (6,523)
Allowable capital loss on disposal of subsidiary |  |  |  | - |  | 1,397
Non-taxable amounts |  |  |  | 1,377 |  | 1,381
Previously unrecognized deferred tax assets (1) |  |  |  | 2,482 |  | 3,016
Renunciation of tax attributes-flow through shares |  |  |  | (2,187) |  | (667)
Change in deferred tax assets not recognized |  |  |  | (2,811) |  | (8,618)
Prior year over (under) provision |  |  |  | (55) |  | 17
Other |  |  |  | 228 |  | 125
Income tax recovery |  |  | $ | 3,638 | $ | 3,955
| (1) | The Company has recognized certain previously unrecognized Canadian tax assets in 2017 and 2016 as a result of the renunciation of certain tax benefits to subscribers pursuant to its May 2016 CAD$12,405,000 and May 2015 CAD$15,000,000 flow-through share offerings.
The deferred income tax assets (liabilities) balance reported on the balance sheet is comprised of the temporary differences as presented below:
|  |  |  | At December 31 |  | At December 31
(in thousands) |  |  |  | 2017 |  | 2016
Deferred income tax assets: |  |  |  |  |  |
Property, plant and equipment, net |  |  | $ | 779 | $ | 662
Post-employment benefits |  |  |  | 492 |  | 480
Reclamation obligations |  |  |  | 6,613 |  | 6,120
Other liabilities |  |  |  | - |  | 177
Tax loss carry forwards |  |  |  | 9,340 |  | 8,781
Other |  |  |  | 5,700 |  | 4,530
Deferred income tax assets-gross |  |  |  | 22,924 |  | 20,750
Set-off against deferred income tax liabilities |  |  |  | (22,924) |  | (20,750)
Deferred income tax assets-per balance sheet |  |  | $ | - | $ | -
Deferred income tax liabilities: |  |  |  |  |  |
Inventory |  |  | $ | (591) | $ | (554)
Investments |  |  |  | (519) |  | (274)
Investments in associates |  |  |  | 11 |  | (60)
Property, plant and equipment, net |  |  |  | (35,106) |  | (33,949)
Other |  |  |  | (901) |  | (934)
Deferred income tax liabilities-gross |  |  |  | (37,106) |  | (35,771)
Set-off of deferred income tax assets |  |  |  | 22,924 |  | 20,750
Deferred income tax liabilities-per balance sheet |  |  | $ | (14,182) | $ | (15,021)
The deferred income tax liability continuity summary is as follows:
(in thousands) |  |  |  | 2017 |  | 2016
Balance-January 1 |  |  | $ | (15,021) | $ | (16,465)
Recognized in income (loss) |  |  |  | 3,638 |  | 3,955
Recognized in comprehensive income (loss) |  |  |  | - |  | (152)
Recognized in other liabilities (flow-through shares) |  | (1,828) |  | (1,836)
Other, including foreign exchange gain (loss) |  |  |  | (971) |  | (523)
Balance-December 31 |  |  | $ | (14,182) | $ | (15,021)
Management believes that it is not probable that sufficient taxable profit will be available in future years to allow the benefit of the following deferred tax assets to be utilized:
|  |  |  |  |  | At December 31 |  | At December 31
(in thousands) |  |  |  |  |  | 2017 |  | 2016
Deferred income tax assets not recognized |  |  |  |  |  |  |  |
Investments |  |  |  |  | $ | - | $ | -
Property, plant and equipment |  |  |  |  |  | 6,753 |  | 4,974
Tax losses – capital |  |  |  |  |  | 53,217 |  | 27,544
Tax losses – operating |  |  |  |  |  | 21,944 |  | 19,833
Tax credits |  |  |  |  |  | 897 |  | 860
Other deductible temporary differences |  |  |  |  |  | 658 |  | 582
Deferred income tax assets not recognized |  |  |  |  | $ | 83,469 | $ | 53,793
A geographic split of the Company’s tax losses and tax credits not recognized and the associated expiry dates of those losses and credits is as follows:
|  | Expiry |  |  |  | At December 31 |  | At December 31
(in thousands) |  | Date |  |  |  | 2017 |  | 2016
Tax losses - gross |  |  |  |  |  |  |  |
Canada |  | 2025-2037 |  |  | $ | 117,210 | $ | 107,337
Tax losses - gross |  |  |  |  |  | 117,210 |  | 107,337
Tax benefit at tax rate of 25% - 27% |  |  |  |  |  | 31,284 |  | 28,614
Set-off against deferred tax liabilities |  |  |  |  |  | (9,340) |  | (8,781)
Total tax loss assets not recognized |  |  |  |  | $ | 21,944 | $ | 19,833
Tax credits |  |  |  |  |  |  |  |
Canada |  | 2025-2035 |  |  |  | 897 |  | 860
Total tax credit assets not recognized |  |  |  |  | $ | 897 | $ | 860

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