Income taxes

12 Months Ended

Nov. 30, 2023

Major components of tax expense (income) [abstract]

21.	Income taxes

The following table presents the components of the current and deferred tax expenses (recovery).


	2023		2022		2021


Current tax expense	$	450	$	443	$	63


Deferred tax expense (recovery)

Origination and reversal of temporary differences	$	(5,972)	$	(11,705)	$	(7,796)

Change in unrecognized deductible temporary differences		5,943		11,705		7,796


Total deferred tax expense (recovery)	$	(29)	$	-	$	-


Total current and deferred tax expense	$	421	$	443	$	63

Reconciliation between effective and applicable tax amounts.


	2023		2022		2021


Income taxes at domestic tax statutory rate	$	(6,237)	$	(12,400)	$	(8,390)

Change in unrecognized deductible temporary differences		5,943		11,705		7,796

Impact of differences in statutory tax rates		(130)		102		64

Non-deductible expenses and other		845		1,036		593


Total income tax expense	$	421	$	443	$	63

The applicable statutory tax rate was

26.5

in 2023, 2022 and 2021. The Company’s applicable tax rate is the Canadian combined rates applicable in the jurisdictions in which the Company operates.

Unrecognized deferred tax assets

As at November 30, 2023 and 2022, the amounts and expiry dates of Canadian tax attributes for which no deferred tax asset was recognized were as follows:


			2023				2022

	Federal		Provincial		Federal		Provincial


Research and development expenses, without time limitation	$	87,151	$	105,549	$	86,768	$	105,174

Losses carried forward 2027		5,512		5,504		5,569		5,561
2028		33,761		16,258		34,110		16,426
2029		14,345		12,124		14,494		12,250
2030		8,423		8,420		8,510		8,507
2031		17,346		15,397		17,525		15,556
2032		11,752		10,791		11,874		10,902
2033		8,444		8,365		8,532		8,451
2034		7,733		7,665		7,813		7,744
2037		6,901		6,818		6,972		6,889
2038		2,013		1,938		2,034		1,958
2039		1,326		1,289		1,340		1,302
2040		7,242		7,218		7,317		7,292
2041		19,152		19,078		19,350		19,276
2042		29,042		28,885		31,181		31,190
2043		19,298		19,284		-		-

Other temporary differences, without time limitation

Excess of tax value of property and equipment over carrying value		435		420		1,000		454

Excess of tax value of intellectual property and patent fees over carrying value		10,660		10,656		10,765		10,765

Available deductions and other		73,522		32,536		69,448		28,034

Given the Company’s past losses, management does not believe that it is probable that the Company can realize its deferred tax assets and, therefore, no amount has been recognized in the consolidated statements of financial position. The generation of future taxable profit is dependent on the successful commercialization of the Company’s products and technologies.

In addition to the above attributes, as at November 30, 2023, the Company had available $8,816 (2022 – $8,883) of losses carried forward in Ireland without expiry dates for which no deferred tax assets were recognized. As at November 30, 2023, deferred tax liabilities had not been recognized for taxable temporary differences arising from investments in a subsidiary because the Company controls the decisions affecting the realization of such liabilities and it is probable that the temporary differences will not reverse in the foreseeable future.