Blackberry 2001 Annual Report Download - page 29

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>For the years ended February 28, 2001, February 29, 2000 and February 28, 1999
6. Income Taxes
The difference between the amount of the provision for income taxes and the amount computed by multiplying
income before taxes by the statutory Canadian rate is reconciled as follows:
February 28, 2001 February 29, 2000 February 28, 1999
Expected Canadian tax rate 44.0% 44.6% 44.6%
Expected tax provision $ 1,549 $ 7,156 $ 3,861
Increase (decrease) in taxes resulting from:
Manufacturing and processing activities (1,095) (1,067) –
Utilization of tax loss carryforwards –(838) (1,791)
Research and development tax incentives (288) (285) (252)
Change in valuation allowance 3,245 ––
Non-deductible portion of unrealized capital losses 3,245 ––
Foreign tax rate differences 2,080 ––
Other differences 995 572 427
$ 9,731 $ 5,538 $ 2,245
The provision for income taxes consists of the following:
February 28, 2001 February 29, 2000 February 28, 1999
Income (loss) before income taxes:
Canadian $ (2,485) $ 16,036 $ 8,654
Foreign 6,005 ––
$ 3,520 $ 16,036 $ 8,654
February 28, 2001 February 29, 2000 February 28, 1999
Provision for income taxes:
Current
Canadian $ 2,296 $ 1,888 $ 2,245
Foreign 2,424 ––
Future
Canadian 5,011 3,650 –
$ 9,731 $ 5,538 $ 2,245
The tax effects of significant temporary differences are as follows:
February 28, 2001
Assets
Financing costs $ 11,779
Non-deductible reserves 3,245
Research and development incentives 4,286
Other tax carryforwards 1,507
20,817
Less: valuation allowance 3,245
17,572
Liabilities
Capital assets 5,561
Net future income tax assets $ 12,011
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