Shaw 2011 Annual Report Download - page 115

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Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2011, 2010 and 2009
[all amounts in thousands of Canadian dollars except share and per share amounts]
The income tax expense differs from the amount computed by applying Canadian statutory rates
to income before income taxes for the following reasons:
2011 2010 2009
$$$
Current statutory income tax rate 27.9% 29.3% 30.2%
Income tax expense at current statutory rates 209,998 213,455 219,787
Increase (decrease) in taxes resulting from:
Non-taxable portion of foreign exchange gains or losses
and amounts on sale/write-down of assets and
investments 697 (1,221) (551)
Decrease in valuation allowance (4,258) (11,036) (3,463)
Effect of future tax rate reductions –(17,643) (22,582)
Originating temporary differences recorded at future
tax rates expected to be in effect when realized 2,733 (11,235) (9,753)
Other (4,341) 11,169 7,759
Income tax expense 204,829 183,489 191,197
Significant components of income tax expense are as follows:
2011 2010 2009
$$$
Current income tax expense 209,649 167,767 23,300
Future income tax expense (recovery) related to origination
and reversal of temporary differences (562) 44,401 193,942
Future income tax recovery resulting from rate changes and
valuation allowance (4,258) (28,679) (26,045)
Income tax expense 204,829 183,489 191,197
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