What was the total income tax expense (recovery) for Cool Binz in 2023?

According to Cool Binz's 2025 Franchise Disclosure Document, the total income tax expense (recovery) for the company in 2023 was $477. This figure represents the sum of current income tax expense ($212) and deferred income tax expense (recovery) of $265 for the year ending December 31, 2023. Note that the 2022 figures have been restated.

For a prospective Cool Binz franchisee, understanding these figures provides insight into the company's tax obligations and profitability. While franchisees are responsible for their own taxes, the financial performance of the franchisor can indicate the overall health and stability of the Cool Binz system. A significant income tax expense suggests strong profitability, while a tax recovery might indicate losses or strategic tax planning.

It's important to note that these figures are specific to Cool Binz as a company and do not reflect the potential tax liabilities of individual franchisees. Franchisees should consult with their own financial advisors to understand the tax implications of owning and operating a Cool Binz franchise. Reviewing the franchisor's financial statements, including tax-related information, is a standard part of due diligence before investing in any franchise.