Shaw 2010 Annual Report Download - page 100

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The income tax expense or recovery differs from the amount computed by applying Canadian
statutory rates to income before income taxes for the following reasons:
2010
$
2009
$
2008
$
Current statutory income tax rate 29.3% 30.2% 32.0%
Income tax expense at current statutory rates 213,046 219,787 220,904
Increase (decrease) in taxes resulting from:
Non-taxable portion of foreign exchange gains or
losses and amounts on sale/write-down of assets
and investments (1,221) (551) –
Decrease in valuation allowance (11,036) (3,463) (9,867)
Effect of future tax rate reductions (17,643) (22,582) (187,990)
Originating temporary differences recorded at future
tax rates expected to be in effect when realized (11,178) (9,753) (11,601)
Other 11,169 7,759 5,974
Income tax expense 183,137 191,197 17,420
Significant components of income tax expense (recovery) are as follows:
2010
$
2009
$
2008
$
Current income tax expense 167,767 23,300 –
Future income tax expense related to origination and
reversal of temporary differences 44,049 193,942 215,277
Future income tax recovery resulting from rate changes
and valuation allowance (28,679) (26,045) (197,857)
Income tax expense 183,137 191,197 17,420
96
Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2010, 2009 and 2008
[all amounts in thousands of Canadian dollars except share and per share amounts]