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INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Taxes |
INCOME TAXES |
19. | INCOME TAXES
The reconciliation of income taxes at statutory rates is as follows: SCHEDULE OF RECONCILIATION OF INCOME TAXES AT STATUTORY RATES
|  | 2024 |  |  | 2023 |  |  | 2022
Loss for the year |  | $ | (25,270,714 | ) |  | $ | (12,931,794 | ) |  | $(15,299,251)
Expected income tax (recovery) |  |  | (6,419,589 | ) |  |  | (3,387,159 | ) |  | (3,085,891)
Change in statutory, foreign tax, foreign exchange rates and other |  |  | 340,677 |  |  |  | (181,113 | ) |  | 825,208
Permanent differences |  |  | 868,994 |  |  |  | 1,419,000 |  |  | 863,183
Share issuance cost |  |  |  |  |  |  |  |  |  | -
Impact of warrants +convertible debenture |  |  |  |  |  |  | 980,080 | ) |  | (3,154,750)
Prior year adjustment |  |  | 53,971 |  |  |  | (59,487 | ) |  | (147,786)
Expiry of non-capital losses |  |  |  |  |  |  | - |  |  | -
Change in unrecognized deductible |  |  | 5,155,947 |  |  |  | 1,228,679 |  |  | 4,700,036
Total income tax expense (recovery) |  | $ | - |  |  | $ | - |  |  | $-
Current income tax |  | $ | - |  |  | $ | - |  |  | $-
Deferred income tax |  |  |  |  |  |  | - |  |  | -
Total |  | $ | - |  |  | $ | - |  |  | $-
The significant components of the Company’s deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES
|  | December 31, 2024 |  |  | December 31, 2023 |  |  | December 31, 2022 |
Deferred tax assets (liabilities) |  |  |  |  |  |  |  |  |  |  |  |
ROU assets and lease liabilities |  | $ | (3,000 | ) |  | $ | (6,000 | ) |  | $ | (11,000 | )
Intangible assets |  |  | (992,000 | ) |  |  | (135,000 | ) |  |  | (132,000 | )
Finance fees |  |  | (2,132,000 | ) |  |  | - |  |  |  | - |
Warrant liability |  |  | - |  |  |  | (42,000 | ) |  |  | (820,000 | )
Non-capital losses |  |  | 3,127,000 |  |  |  | 183,000 |  |  |  | 963,000 |
Net deferred tax liability |  | $ | - |  |  | $ | - |  |  | $ | - |
Siyata Mobile Inc. Notes to the Consolidated Financial Statements (Expressed in US dollars) As at and for the years ended December 31, 2024 and 2023
19. | INCOME TAXES (cont’d)
The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows: SCHEDULE OF TEMPORARY DIFFERENCES UNUSED TAX CREDITS AND UNUSED TAX LOSSES
|  | 2024 |  |  | Expiry date |  |  | 2023 |  |  | Expiry date |  | 2022 |  |  | Expiry date
Receivables |  | $ | - |  |  |  |  |  |  | $ | - |  |  |  |  | $ | - |  |  | None
Property, plant and equipment and intangibles |  | $ | 2,973,000 |  |  |  |  |  |  |  | 3,210,000 |  |  | None |  |  | 2,522,000 |  |  | None
Financing cost |  |  | 7,907,000 |  |  |  |  |  |  |  | 3,480,000 |  |  | 2042 to 2046 |  |  | 4,262,000 |  |  | 2041 to 2045
Inventory |  |  | 736,000 |  |  |  | None |  |  |  | 800,000 |  |  | None |  |  | 1,614,000 |  |  | None
Allowance for doubtful accounts |  |  | - |  |  |  |  |  |  |  | - |  |  | None |  |  | - |  |  | None
Warrant liability |  |  | - |  |  |  | None |  |  |  | 156,000 |  |  | None |  |  | 3,036,000 |  |  | None
Allowable capital losses |  |  | 35.000 |  |  |  | None |  |  |  | 38,000 |  |  | None |  |  | 37,000 |  |  | None
Non-capital losses available for future periods |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Canada |  |  | 69,155,000 |  |  |  |  |  |  |  | 49,918,000 |  |  | 2026-2043 |  |  | 38,258,000 |  |  | 2026 to 2042
- Israel |  |  | 27,410,000 |  |  |  |  |  |  |  | 27,339,000 |  |  | None |  |  | 23,600,000 |  |  | None
- United States |  |  | - |  |  |  |  |  |  |  | - |  |  | None |  |  | - |  |  | None
Total non-capital losses |  | $ | 96,565,000 |  |  |  |  |  |  |  | 77,257,000 |  |  |  |  |  | 61,858,000 |  |  |

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