Cogeco 2004 Annual Report Download - page 37

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Cogeco Cable Inc. 2004 35
2AMORTIZATION
2004 2003
(amounts are in thousands of dollars) (restated)
$$
Fixed assets 116,522 89,981
Deferred charges 23,692 20,253
140,214 110,234
3INCOME TAXES
2004 2003
(amounts are in thousands of dollars) (restated)
$$
Current 2,126 3,470
Future 35,143 916
37,269 4,386
The following table provides the reconciliation between statutory federal and provincial income taxes and the effective consolidated income
tax rate:
2004 2003
(amounts are in thousands of dollars) (restated)
$$
Income tax at combined income tax rate of 35.4%
(36.5% in 2003) 1,794 1,554
Loss (income) subject to lower tax rates 131 (263)
Increase in income taxes as a result of changes
in substantially enacted tax rates 32,483 —
Large corporation tax 3,700 4,000
Other (839) (905)
Income taxes at effective income tax rate 37,269 4,386