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Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2018
Disclosure Of Income Taxes [Abstract]  
Summary of Income Tax Expense

Income tax expense varies from the amount that would be computed by applying the basic federal and provincial tax rates to loss before income taxes, shown as follows:

 

 

March 31, 2018

 

 

March 31, 2017

 

Loss from operations

 

(52,541

)

 

 

(10,275

)

Expected tax rate

 

26.5

%

 

 

26.5

%

 

 

 

 

 

 

 

 

Expected tax benefit resulting from loss

$

13,923

 

 

$

2,723

 

Non-deductible expenses

 

(19,310

)

 

 

(2,156

)

Increase in unrecognized temporary differences

 

(5,506

)

 

 

2,258

 

Non-taxable portion of capital gains and losses

 

9,421

 

 

 

-

 

Other

 

(121

)

 

 

(122

)

Income tax (expense) recovery

$

(1,593

)

 

$

2,703

 

 
Summary of Effect of Temporary Differences and Loss Carryforwards

The effect of temporary differences and loss carryforwards that give rise to significant portions of the deferred tax liability, which has been recognized during the year ended March 31, 2018 are as follows:

 

March 31, 2017

 

 

Recognized in profit or loss

 

 

Recognized in equity

 

 

Recognized in other comprehensive income

 

Disposal of consolidated entity

 

Business combinations and assets held for sale

 

March 31, 2018

 

Deferred tax asset

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss carryforwards

$

30,494

 

 

$

5,677

 

 

$

-

 

 

$

-

 

$

(1,014

)

$

-

 

$

35,157

 

Other

 

829

 

 

 

-

 

 

 

4,511

 

 

 

-

 

 

-

 

 

-

 

 

5,340

 

 

 

31,323

 

 

 

5,677

 

 

 

4,511

 

 

 

-

 

 

(1,014

)

 

-

 

 

40,497

 

Deferred tax liability

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed assets

 

(1,126

)

 

 

3,577

 

 

 

-

 

 

 

-

 

 

(263

)

 

(1,117

)

 

1,071

 

Intangibles

 

(42,703

)

 

 

10,310

 

 

 

-

 

 

 

-

 

 

6,965

 

 

-

 

 

(25,428

)

Biological assets

 

(20,615

)

 

 

(9,460

)

 

 

-

 

 

 

-

 

 

295

 

 

-

 

 

(29,780

)

Investments

 

(3,184

)

 

 

(13,558

)

 

 

-

 

 

 

(5,124

)

 

-

 

 

-

 

 

(21,866

)

Other long-term liabilities

 

-

 

 

 

2,783

 

 

 

-

 

 

 

-

 

 

-

 

 

-

 

 

2,783

 

Other

 

381

 

 

 

(922

)

 

 

-

 

 

 

-

 

 

(284

)

 

12

 

 

(813

)

 

 

(67,247

)

 

 

(7,270

)

 

 

-

 

 

 

(5,124

)

 

6,713

 

 

(1,105

)

 

(74,033

)

Net deferred taxes

$

(35,924

)

 

$

(1,593

)

 

$

4,511

 

 

$

(5,124

)

$

5,699

 

$

(1,105

)

$

(33,536

)

 

The effect of temporary differences and loss carryforwards that give rise to significant portions of the deferred tax liability, which has been recognized during the year ended March 31, 2017 are as follows:

 

 

March 31, 2016

 

 

Recognized in profit or loss

 

 

Recognized in goodwill

 

 

Recognized in other comprehensive income

 

Liabilities associated with asset held for sale

 

March 31, 2017

 

Deferred tax asset

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss carryforwards

$

9,100

 

 

$

15,332

 

 

$

6,062

 

 

$

-

 

$

-

 

$

30,494

 

Other

 

224

 

 

 

(62

)

 

 

667

 

 

 

-

 

 

-

 

 

829

 

 

 

9,324

 

 

 

15,270

 

 

 

6,729

 

 

 

-

 

 

-

 

 

31,323

 

Deferred tax liability

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed assets

 

(1,097

)

 

 

132

 

 

 

(161

)

 

 

-

 

 

-

 

 

(1,126

)

Intangibles

 

(8,436

)

 

 

479

 

 

 

(34,746

)

 

 

-

 

 

-

 

 

(42,703

)

Asset held for sale

 

-

 

 

 

-

 

 

 

(820

)

 

 

-

 

 

820

 

 

-

 

Biological assets

 

(7,201

)

 

 

(12,529

)

 

 

(885

)

 

 

-

 

 

-

 

 

(20,615

)

Investments

 

-

 

 

 

(756

)

 

 

-

 

 

 

(2,428

)

 

-

 

 

(3,184

)

Other

 

(3

)

 

 

107

 

 

 

277

 

 

 

-

 

 

-

 

 

381

 

 

 

(16,737

)

 

 

(12,567

)

 

 

(36,335

)

 

 

(2,428

)

 

820

 

 

(67,247

)

Net deferred taxes

$

(7,413

)

 

$

2,703

 

 

$

(29,606

)

 

$

(2,428

)

$

820

 

$

(35,924

)

 
Summary of Unrecognized Temporary Differences

The unrecognized temporary differences of the Company are comprised of:

 

 

March 31, 2018

 

 

March 31, 2017

 

Losses carried forward

$

30,041

 

 

$

2,792

 

Intangibles assets and fixed asset

 

-

 

 

 

9,906

 

Total

$

30,041

 

 

$

12,698

 

 
Non-Capital Losses Available to Reduce Future Years Taxable Income

24.

INCOME TAXES (CONTINUED)

The Company has the following non-capital losses available to reduce future years' taxable income which expires as follows:

 

2030

$

40

 

2031

 

123

 

2032

 

376

 

2033

 

3,195

 

2034

 

7,258

 

2035

 

18,196

 

2036

 

29,806

 

2037

 

29,202

 

2038

 

79,301

 

Foreign - indefinite

 

3,900

 

 

$

171,397