15. INCOME TAXES
Income tax expense differs from the amount that would be computed by applying the Canadian statutory income tax rate of 26.00% to income before income taxes.
| 2017 | 2016 | 2015 | ||||||||||
| Loss before income taxes | $ | 183,934 | $ | 347,963 | $ | 334,993 | ||||||
| Statutory income tax rate | 26.00 | % | 26.00 | % | 26.00 | % | ||||||
| Expected income tax benefit | 47,823 | 90,470 | 87,098 | |||||||||
| Items not deductible for income tax purposes | — | — | (81 | ) | ||||||||
| Underprovided in prior years | (18,429 | ) | 783 | 57,063 | ||||||||
| Unrecognized benefit of deferred tax assets | (29,394 | ) | (89,688 | ) | (144,080 | ) | ||||||
| Income tax expense | $ | — | $ | — | $ | — | ||||||
The Company recognizes tax benefits on losses or other deductible amounts where it is probable the Company will generate sufficient taxable income to utilize deferred tax assets. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts:
| 2017 | 2016 | |||||||
| Excess of unused exploration expenditures over carrying value of mineral property interests | $ | 2,656,167 | $ | 2,656,167 | ||||
| Excess of undepreciated capital cost over carrying value of fixed assets | 650,381 | 650,381 | ||||||
| Non-refundable mining investment tax credits | 988 | 988 | ||||||
| Long-term investment | 400,000 | 400,000 | ||||||
| Share issue cost | — | 9,600 | ||||||
| Non-capital losses carried forward | 3,786,737 | 3,664,085 | ||||||
| Capital losses carried forward | 993,649 | 993,649 | ||||||
| Unrecognized deductible temporary differences | $ | 8,487,922 | $ | 8,374,870 | ||||
The Company’s unrecognized unused non-capital tax losses have the following expiry dates:
| 2027 | $ | 590,000 | $ | 590,000 | ||||
| 2028 | 306,000 | 306,000 | ||||||
| 2029 | 487,000 | 487,000 | ||||||
| 2030 | 454,000 | 454,000 | ||||||
| 2031 | 336,000 | 333,000 | ||||||
| 2032 | 122,000 | 163,000 | ||||||
| 2033 | 213,000 | 172,000 | ||||||
| 2034 | 457,000 | 457,000 | ||||||
| 2035 | 344,000 | 344,000 | ||||||
| 2036 | 284,000 | 358,000 | ||||||
| 2037 | 194,000 | — | ||||||
| $ | 3,787,000 | $ | 3,664,000 |
The Company has available approximate net capital losses of $994,000 that may be carried forward indefinitely. The Company has available resource-related deductions of approximately $2,656,000 that may be carried forward indefinitely.