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Income Taxes | 12 Months Ended
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Dec. 31, 2020
Major Components Of Tax Expense Income [Abstract] |
Income Taxes |
20. | Income taxes
The following table reconciles the expected income tax expense (recovery) at the Canadian federal and provincial statutory income tax rates to the amounts recognized in the consolidated statements of loss and comprehensive loss for the years ended December 31, 2020, December 31, 2019 and ten months ended December 31, 2018:
| December 31, 2020 |  | December 31, 2019 |  | December 31, 2018 |
Loss before taxes |  | (206,317 | ) |  | (146,307 | ) |  | (56,526 | )
Statutory income tax rates |  | 24.0 | % |  | 26.5 | % |  | 27.0 | %
Expected income tax recovery |  | (49,516 | ) |  | (38,771 | ) |  | (15,262 | )
Non-deductible share-based compensation |  | 1,970 |  |  | 10,474 |  |  | 1,860 |
Non-deductible finance expense |  | 2,130 |  |  | 15,981 |  |  | 2,304 |
Other non-deductible expenses |  | 348 |  |  | 2,621 |  |  | — |
Change in tax rates |  | 1,528 |  |  | 3,305 |  |  | — |
Deferred tax benefits not recognized |  | 43,540 |  |  | 2,781 |  |  | 11,098 |
Income tax (recovery) expense |  | — |  |  | (3,609 | ) |  | — |
Details of the deferred tax assets (liabilities) are as follows:
| December 31, 2020 |  | December 31, 2019 |
Deferred tax assets (liabilities): |  |  |  |  |  |
Property, plant and equipment |  | — |  |  | (3,490 | )
Inventory |  | 8,388 |  |  | 1,881 |
Biological assets |  | (8,388 | ) |  | (7,170 | )
Intangible assets |  | — |  |  | (7,355 | )
Non-capital losses |  | — |  |  | 12,769 |
Net deferred tax asset (liability) |  | — |  |  | (3,365 | )
Deferred tax assets have not been recognized for the following deductible temporary differences:
| December 31, 2020 |  | December 31, 2019 |
Unrecognized deductible temporary differences: |  |  |  |  |  |
Property, plant and equipment |  | 36,782 |  |  | — |
Intangible assets |  | 536 |  |  | — |
Share issue costs |  | 11,112 |  |  | 16,779 |
Financial obligations and other |  | 1,054 |  |  | 1,726 |
Inventory and biological assets |  | 34,781 |  |  | — |
Non-capital losses |  | 171,205 |  |  | 54,472 |
Unrecognized deductible temporary differences |  | 255,470 |  |  | 72,977 |
The movement in deferred income tax liability is as follows:
| December 31, 2020 |  | December 31, 2019 |
Balance, beginning of year |  | 3,365 |  |  | — |
Acquisition of Pathway Rx |  | — |  |  | 3,609 |
Acquisition of Bridge Farm |  | — |  |  | 4,355 |
Recognized in profit and loss |  | — |  |  | (3,609 | )
Recognized in other comprehensive income |  | (25 | ) |  | 27 |
Recognized in discontinued operations (note 5) |  | (225 | ) |  | (1,017 | )
Disposition of Bridge Farm (note 5) |  | (3,115 | ) |  | — |
Balance, end of year |  | — |  |  | 3,365 |
The Company has $171.2 million (December 31, 2019 - $99.1 million) of non-capital losses available for future periods that will expire prior to 2038-2040. The loss on financial obligation in 2019 was not recognized as a deduction for deferred income taxes. If it was deducted, the amount would be considered as an unrecognized deferred tax asset as it is less likely than not that it would be utilized in the foreseeable future.

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