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Income taxes
 12 Months Ended
Mar. 31, 2023
Disclosure Of Income Tax [Abstract]  
Income taxes Income taxes
Income tax expense (recovery) includes the following components:
20232022
$
$
Current
Related to current year2,880 1,214 
Related to prior years(411)(111)
2,469 1,103 
Deferred
Related to current year(6,338)(27,831)
Related to prior years(350)(193)
(6,688)(28,024)
Total income tax recovery(4,219)(26,921)
The income tax expense (recovery) reported, which includes foreign taxes, differs from the amount of the income tax expense (recovery) computed by applying Canadian statutory rates as follows:
20232022
$$
Loss before income taxes(1,074,228)(315,354)
Statutory tax rate26.5 %26.5 %
Income tax recovery at the statutory tax rate(284,671)(83,589)
Impact of rate differential of foreign jurisdiction9,944 7,078 
Non-deductible share-based compensation and related costs33,771 20,208 
Acquisition-related compensation and transaction-related costs1,267 1,480 
Other non-deductible expenses (credits) and non-taxable amounts728 (192)
Adjustment related to prior years(761)(304)
Goodwill impairment198,409 — 
Changes in unrecognized benefits of deferred tax assets38,673 27,972 
Impact of foreign exchange and other(1,579)426 
Total income tax recovery(4,219)(26,921)
Deferred taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:
20232022
Deferred tax assets$$
Property and equipment3,179 2,402 
Non-capital losses carried forward49,467 78,292 
Lease liabilities6,045 6,354 
Deferred revenue530 1,217 
Interest expenses carried forward3,170 5,852 
Other17,760 6,338 
Total deferred tax assets80,151 100,455 
Deferred tax liabilities
Property and equipment(562)(299)
Intangible assets(67,972)(97,647)
Lease right-of-use assets(5,028)(5,140)
Other(6,288)(4,048)
Total deferred tax liabilities(79,850)(107,134)
Net deferred tax assets (liabilities)301 (6,679)
As presented on the consolidated balance sheets:
Deferred tax assets301 154 
Deferred tax liabilities— (6,833)
Net deferred tax assets (liabilities)301 (6,679)
2023
Balance as at March 31, 2022Charged
(credited) to
consolidated
statement of
loss		Business
acquisitions
and other		Balance as at March 31, 2023
$$$$
Deferred tax assets (liabilities) continuity
Property and equipment2,103 514 — 2,617 
Intangible assets(97,647)29,675 — (67,972)
Lease liabilities6,354 (309)— 6,045 
Lease right-of-use assets(5,140)112 — (5,028)
Non-capital losses carried forward78,292 (28,825)— 49,467 
Deferred revenue1,217 (687)— 530 
Interest expenses carried forward5,852 (2,682)— 3,170 
Other2,290 8,890 292 11,472 
Net deferred tax assets (liabilities)(6,679)6,688 292 301 
2022
Balance as at March 31, 2021Charged
(credited) to
consolidated
statement of
loss		Business
acquisitions
and other		Balance as at March 31, 2022
$$$$
Deferred tax assets (liabilities) continuity
Property and equipment2,061 75 (33)2,103 
Intangible assets(50,476)22,042 (69,213)(97,647)
Lease liabilities6,073 5 276 6,354 
Lease right-of-use assets(5,000)86 (226)(5,140)
Non-capital losses carried forward41,308 3,439 33,545 78,292 
Deferred revenue1,011 206 — 1,217 
Interest expenses carried forward5,188 664 — 5,852 
Other(1,351)1,507 2,134 2,290 
Net deferred tax assets (liabilities)(1,186)28,024 (33,517)(6,679)
The Company has accumulated unrecognized deductible temporary differences, unused tax losses and unused tax credits as follows:
20232022
$$
Deductible temporary differences63,695 60,237 
Non-capital losses587,407 394,067 
Research and development expenditures21,760 15,456 
672,862 469,760 
As at March 31, 2023, the Company and its subsidiaries have non-capital losses of $587,407 (2022 - $394,067) available to reduce future taxable income for which the benefits have not been recognized. From this amount, $320,344 (2022 - $226,403) expires from calendar year 2024 to 2043, while $267,063 (2022 - $167,664) has no expiry date.
There was no change in statutory tax rate for the financial year.
Government assistance
The Company incurred research and development expenditures and e-business development expenses which are eligible for tax credits. The tax credits recorded are based on management’s estimate of amounts expected to be recovered and are subject to audit by the taxation authorities and, accordingly, these amounts may vary. For the fiscal year ended March 31, 2023, the Company recorded a Canadian provision for refundable tax credits of $4,077 (2022 – $3,933). This amount has been recorded as a reduction of research and development and e-business development expenditures for the year.
As at March 31, 2023, the Company has available Canadian federal non-refundable investment tax credits of $2,598 (2022 – $2,548) related to research and development expenditures which may be used to reduce Canadian federal income taxes payable in future years. These non-refundable investment tax credits begin to expire in 2033. The Company also has a non-refundable e-business tax credit of $4,823 (2022 – $3,772) which may reduce Canadian provincial income taxes payable in future years. These non-refundable credits begin to expire in 2035.
The benefits of these non-refundable investment tax credits have not been recognized in the consolidated financial statements.